As another of the automaker’s top executives prepares to address another large industry gathering, one of Toyota’s high-level managers confirmed that Toyota’s North American production has returned to 100 percent. Steve St. Angelo indicated the OEM’s recovery is well ahead of initial expectations. The Toyota Motor Engineering & Manufacturing executive vice president made the assessment […] [Read More]

Earlier this week, Ritchie Bros. Auctioneers broke ground on a new North Carolina facility located near the Raleigh-Durham area that will serve as a replacement for the company’s existing auction in Statesville, N.C. The site of new auction, located in Butner, is on 107 acres, about 24 miles north of the Raleigh-Durham International Airport. [Read More]

While still extending a downward push, TrueCar discovered  it did take a little more money to move new metal last month than it did a year earlier. The site determined the average transaction price for light vehicles in the United States was $29,539 in August, up $388 or 1.3 percent from last August. While the […] [Read More]

In response to customer requests, Warranty Direct, a provider of extended service contracts for vehicles, rolled out expanded coverage this week for its major policies at no additional cost. Warranty Direct executive vice president Tara Williams elaborated about why the company made this decision. “We are increasing the coverage for our most popular contracts by […] [Read More]

As part of the celebration for Chevy’s 100th birthday — Nov. 3 — the nameplate’s fans were asked to vote for their favorite vehicle from throughout the brand’s history. After nearly 125,000 Chevy fans cast their votes, the 1969 Camaro was named the “Best Chevy of All Time.” Interestingly enough, the 1967–1969 Camaro also made […] [Read More]

WASHINGTON, D.C. — After releasing its new CUDL AutoSMART app for the Apple iPhone, iPad and iPod Touch last summer, the credit union lending services company has revealed its application is now compatible with  Android mobile smart phone and devices, as well. The app — which is designed specifically for credit-union members — replicates features of […] [Read More]

WASHINGTON, D.C. — The titleholder of a rented or leased vehicle could be back in the crosshairs of vicarious liability should a provision to the Graves Law be repealed. That's why the American Financial Services Association recently was joined by 29 other companies and organizations in a letter urging Congress not to amend or repeal […] [Read More]

SAN DIEGO — LEAP Financial revealed this week it is expanding its management team to accommodate recent growth. New members of the executive team include Brian Bailey, senior vice president of strategy and originations; Gary Flowers, senior vice president of business development; Lindy Hood, chief marketing officer and Steve Mark, chief financial officer. Additionally, Kyle […] [Read More]

NEW YORK — TD Bank's president and chief executive officer believes the company made a wise choice when completing the acquisition of Chrysler Financial earlier this year. Now doing business as TD Auto Finance, Bharat Masrani told an investors conference earlier this week that activity within this division is "going well." After making a presentation […] [Read More]

Avis Budget Group confirmed Wednesday in its latest filings with the Securities and Exchange Commission that it will no longer pursue a $1.5 billion acquisition of Dollar Thrifty Automotive Group. As to the reason why, Avis officials stated, “We have made significant progress toward obtaining U.S. regulatory clearance for the acquisition of DTAG, and we […] [Read More]