AutoNation revealed a double-digit year-over-year new-vehicle sales increase in April, moving a total of 18,266 units. This amount represents an 11-percent rise from the same month last year. The company went on to share how its retail new-vehicle unit sales broke down by operating segments: —Domestic: 5,796 units, up 18 percent versus April 2010. —Import: […] [Read More]

J.D. Byrider announced Tuesday that it has been acquired by private equity firm Altamont Capital Partners. Altamont plans to provide Byrider with strategic direction, experienced resources and additional capital to support its growth and franchise expansion initiatives. The purchase of Byrider is Altamont’s first investment from its $500 million fund, which closed late last year. The firm said […] [Read More]

Not long after the automaker declared it was paying back government bailouts and posted quarterly net income for the first time since bankruptcy, Chrysler Group chief executive officer Sergio Marchionne had more positive financial news to share Tuesday. Standard & Poor’s issued a preliminary B+ credit rating for Chrysler. Also coming Tuesday, the automaker learned Moody’s issued […] [Read More]

Even in the midst of rising fuel costs and their impact on purchasing decisions, new-vehicle transaction prices last month reached the highest level for any April on record, according to TrueCar.com. The site attributes this surge to a trio of factors, one of which was plunging incentives. And while this combination of higher transaction prices and […] [Read More]

Innovative Funding Services and LeasePlan USA announced they have formed a partnership.  IFS specializes in providing fleet customers with the opportunity to purchase vehicles and offers a variety of financing options through its lender partnerships, as well as commercial loan possibilities. Meanwhile, LeasePlan provides fleet and vehicle management solutions. It manages 1.3 million vehicles throughout the world. […] [Read More]

Toyota Motor Engineering & Manufacturing North America recently announced two shifts in senior management. The internal changes are effective immediately. Shigeki Terashi, former executive vice president of TEMA as well as president of Toyota Technical Center in Ann Arbor, Mich., will assume the position of president of TEMA and will also retain his role at […] [Read More]

With a big push from its perennially best-selling Sorento model, Kia Motors America notched its best-ever month for the second straight time. The automaker moved 47,074 units in April, up 6.6 percent over March when Kia hit its previous best-ever mark. April’s sales also represent a 56.7-percent year-over-year hike. Kia moved more than 12,000 Sorento […] [Read More]

A Honda Facebook fan calling himself Dustin R. is apparently so enamored with the brand that he got the company’s logo tattooed on his forearm. Unconventional? Quite possibly, but the Iowa man’s admiration for Honda has not gone unreturned. As part of the automaker’s ongoing “We’re Fans of You Too” Week to celebrate hitting 1 […] [Read More]

Franchise dealers enjoyed their strongest April for used-car sales in five years, according to CNW Research. Meanwhile, independent dealers saw an increase greater than 17 percent on a year-over-year basis. Specifically, franchise dealers moved 1.32 million used vehicles, which is 10.7-percent stronger than April 2010 figures, CNW’s Art Spinella reported. As for  independent dealers, their used sales reached 1.33 million units, […] [Read More]

Though small in stature, the Mini brand appeared to be a heavywieight in the latest Industry Outlook & Residual Trends report from ALG. Not only was the company found to have the strongest mainstream brand residual positioning for May/June, but it topped the mainstream side of ALG’s Used Statistical Brand Value measure, as well, which gauges […] [Read More]