ClassicCars.com announced late last week that the online collector/classic car marketplace has reached a new milestone. The aggregate value of the inventory on the site now is more than $1 billion, officials noted. “Reaching one billion dollars in inventory is a tremendous milestone for us and for our industry,” stated chief executive officer Roger Falcione. [Read More]

Mecum Auctions is welcoming the spring season for collectors with hopes of filling the Kansas City Convention Center/Bartle Hall in Kansas City, Mo., for a sale scheduled to run March 29–31. With nearly 750 collector vehicles expected to cross the block, the auction is excited for the first of two visits to the City of […] [Read More]

Dollar Thrifty Automotive Group revealed late last week the completion of a new five-year $450 million senior secured credit facility that “significantly enhances the company’s liquidity, as well as its operating and financing flexibility,” according to officials. [Read More]

Late last week, Ford Motor Co. was named as one of America’s top corporations for its support of women-owned suppliers. "Building a financially healthy, diverse supply base is a central part of the Ford purchasing strategy," said Tony Brown, group vice president for Ford Global Purchasing. "We are proud to receive this recognition, and we […] [Read More]

NEW YORK — As part of a record year for net income, JPMorgan Chase & Co., watched its fourth-quarter auto originations tick higher year-over-year. The company recently reports its fourth-quarter auto originations totaled $4.9 billion, up 2 percent from the prior year period. However, Chase acknowledged the figure was down 17 percent from the prior […] [Read More]

BENTONVILLE, Ark. — Buy-here, pay-here dealership chain America’s Car-Mart late last week announced its operating results for its third fiscal quarter, showing double-digit growth revenue. For the quarter ending Jan. 31, the group saw a revenue increase of 13.8 percent, coming in at $105.4 million, up from the $92.6 million for the same period last […] [Read More]

NEW YORK — While referencing the need to cultivate relationships with dealers, Fitch believes U.S. banks have a chance to foster loan growth via their auto portfolios as consumer demand and sales of both new and used vehicles increases. But analysts concede timing and competition could present challenges. Fitch explained U.S. banks continue to struggle […] [Read More]

ATLANTA — With its latest feature, AutoTrader.com is looking to give dealers another way to attract shoppers to their lots and inventory. With the new Price Markdown feature, dealers can systematically subtract the amount of special offers from the price of their vehicles. "With this tool, dealers are able to more easily highlight the affordability […] [Read More]

The two newest recalls revealed by the National Highway Traffic Safety Administration include vehicles from the current model year, one by Nissan and the other by Dodge. The larger of the two recalls is for the 2012 Nissan Versa. Officials explained the 36,608 effected units failed to comply with the requirements of federal motor vehicle […] [Read More]

Fimalac S.A., the French parent company of global ratings agency Fitch Group, recently revealed it is selling an additional 10 percent in the ratings agency to Hearst Corp., parent of Black Book. This brings Hearst to a 50 percent equity stake in Fitch.   The transaction is valued at $177 million. Hearst acquired its original interest in Fitch […] [Read More]