Ontario dealer Al Revell no longer buys any vehicle at the physical auction. Instead, the co-owner of Revell Ford Lincoln in Verona, Ontario takes care of all his store’s wholesale buying needs through OPENLANE. A case study on Revell’s store from OPENLANE revealed that a few years ago, Ford was steering its dealers to utilize […] [Read More]

Manheim Canada revealed its new director of business/product development this week, appointing longtime industry veteran Don Wallace to the role. When he officially begins his tenure on Monday, Wallace takes the spot previously held by Cheryl Munce. Munce recently moved over to serve as general manager at Manheim Toronto. [Read More]

TRADER Corp. and Yahoo Canada formed an alliance this week, making autoTRADER.ca the official automotive partner powering the used car section of Yahoo Canada Autos. The companies believe the alliance creates a seamless user experience for autoTRADER.ca and Yahoo consumers in Canada. They contend potential buyers can find the best deals on used vehicles through […] [Read More]

Penske Automotive Group’s significant uptick in used sales helped overcome what was a modest drop in new sales, as the company enjoyed a “solid quarter” despite the inventory pressures it faced in the aftermath of the Japanese earthquake. Reporting second-quarter results Thursday, Penske said it achieved $39.9 million in income from continuing operations attributable to […] [Read More]

Acknowledging it won’t recoup the full amount owed by the Old Chrysler, the U.S. Department of the Treasury said Thursday it received $560 million in proceeds from the sale of its remaining stake in Chrysler Group to Fiat. With the closing of this transaction, the Treasury declared that it has fully exited its investment in […] [Read More]

So far this month, although new retail sales have picked up the pace from June and May, various downward pressures appear to be keeping sales at bay. The market still hasn’t returned to the strength it saw during the first few months of 2011, according to J.D. Power and Associates. The firm is forecasting July […] [Read More]

As the site pinpointed the best day in July to acquire a new vehicle, TrueCar.com also highlighted this month’s best purchase and lease deals being rolled out by OEMs. Based on data from its latest TrueTrends Report, TrueCar.com believes July 30 is the best day for consumers to hit franchise dealers. After scouring cash, finance […] [Read More]

In an attempt to help dealers better capitalize on the ever-growing accessories marketplace, Chrome Systems introduced an enhanced version of its Accessories Web Service. The company highlighted this new solution can allow dealers and their portals to capture leads and revenue by displaying, promoting and up-selling accessories at strategic customer touch points, including in social […] [Read More]

Saab announced Thursday that the date to resume production at its Trollhattan plant will be postponed until late August, at the earliest. The automakers recent proposal to restart production Aug. 9 was delayed because of a failure to secure the necessary parts from suppliers. An industry-wide summer break that affected a large amount of the automaker’s […] [Read More]

About eight months after rolling out its initial public offering, General Motors revealed a quarterly dividend on its preferred stock this week. GM’s board of directors approved a $0.59375 per share divided on the company’s Series B mandatory convertible junior preferred stock, officials noted. Series B holders of record as of Aug. 15 will be […] [Read More]