Two Canadian auto lenders have struck a deal that is designed to help their mutual dealer customers in Ontario more easily facilitate subprime car loans. In talks between leaders of the two lenders — subprime lender Cars on Credit and floor-plan financer Clubb Finance Corp. — the companies both emphasized that dealers were most concerned […] [Read More]

Carfinco Income Fund has pushed its record streak to nine quarters, the company announced this week. Reporting $5.8 million in second-quarter pre-income tax earnings, Carfinco now has broken records in this metric each quarter beginning with the second quarter of 2009. In that period that kicked off the record streak, Carfinco generated pre-tax income of […] [Read More]

The Canadian new-vehicle market softened almost 5 percent amid “a very mixed bag” in a month that saw Japanese brands continue to struggle with inventory issues while other automakers enjoyed skyrocketing sales, according to DesRosiers Automotive Consultants. Overall, there were 141,472 new-car sales in Canada during July, a 4.9-percent drop from a year ago. Year-to-date sales […] [Read More]

General Motors has pushed its streak of profitable quarters to six with the most recently completed period, and the company’s top boss stressed during a conference call Thursday the continued importance of three fundamentals to GM’s success. In wrapping up his opening remarks during the call, GM chairman and chief executive officer Dan Akerson boiled […] [Read More]

Chrysler Group is bringing back the same cluster of minivans it already summoned once this year. The automaker informed the National Highway Traffic Safety Administration it is recalling nearly 300,000 minivans, this time to replace the occupant restraint control modules. The recall covers Dodge Grand Caravan and Chrysler Town & Country from the 2008 model […] [Read More]

In his five years as Ford’s chief executive, Alan Mulally has testified before Congress, talked with reporters, delivered keynote speeches and addressed the shareholders of America’s second-largest automaker. But earlier this week, he faced a speaking engagement of a different sort: an interview with dry-witted funnyman David Letterman. [Read More]

Mirroring impressive gains made by an industry competitor, Avis Budget Group highlighted jumps in revenue, adjusted EBITDA and more during the second quarter. Avis determined its revenue came in at $1.4 billion, an increase of 9 percent compared with the same period a year ago. This increase is primarily due to an 8-percent rise in […] [Read More]

NADAguides.com said Thursday that it has seen traffic to its new- and used-car section climb 10 percent since Jan. 1, a trend it believes follows the growth in the overall new-market this year. In addition to this 10-percent hike in unique visitors to the site, NADAguides.com saw 12-percent year-over-year traffic growth for the month of […] [Read More]

Selig Technologies announced Thursday that its VIN Viper Mobile Application Suite now is available on another platform. Along with functionality on iPhone and Windows mobile platforms, VIN Viper also can operate on Android. Selig recapped that VIN Viper is a mobile appraising tool designed to enable dealers to scan a vehicle identification number and instantly […] [Read More]

In less than two months, the South Dakota Independent Auto Dealers Association will host a two-day conference in the historic Western town of Deadwood, S.D., where attendees will be treated to presentations on best practices from a slew of industry leaders as well as a Las Vegas-style theme and entertainment. “Las Vegas in Deadwood – […] [Read More]