Saab’s parent company Swedish Automobile announced Wednesday that it has paid its employees’ wages for June, secured a 25 million euro loan and expects to resume full production within two weeks. The convertible bridge loan agreement providing the automaker with more short-term funding was made with Bahamas-based Gemini Investment Fund Limited. The loan agreement, with […] [Read More]

ShipCarsNow aims to offer dealers and remarketers the ability to access auto transport quotes from their smartphones via its new mobile application. ShipCarsNow Mobile provides shippers with the ability to make quick, informed purchase decisions when buying wholesale inventory, noted the company. The application is available free of charge for iPhone and Android smartphones and will […] [Read More]

NASHVILLE, N.C. — The federal and state rules, regulations and statutes for operating as an independent automobile dealer are constantly evolving. The risk of not adapting your business practices to those changes exposes you to ever-increasing liability. Simply stated, there are several previously acceptable methods of doing business that are now considered "unfair and deceptive." […] [Read More]

HANOVER, Md. — With data from additional participants revealing trends about funding availability and more, the National Automotive Finance Association recently announced its 2011 Below-Prime Automotive Financing Survey has been published. Officials highlighted the survey — conducted by outside consultant BenchMark Consulting International — presents aggregated data from 28 participants, up from last year. Of […] [Read More]

WASHINGTON, D.C. — Effective July 25, a new inspector general of the board of governors of the Federal Reserve System and the Bureau of Consumer Financial Protection will take charge. Officials on Thursday appointed Mark Bialek, who will lead the office of inspector general staff in promoting the economy, efficiency and effectiveness of the board's […] [Read More]

BANDON, Ore. — Instead of looking at the full contract and interest costs, many consumers appear more concerned with how a monthly vehicle payment will fit into their budget. While this has been something dealers and F&I professionals have seen for some time, apparently this trend has grown since 2008, according to CNW Research. The company […] [Read More]

The Specialty Equipment Market Association recently gave the SEMA Educational Institute eLearning Center an upgrade, giving SEMA members and other professionals in this segment of the auto business the opportunity to tap into more than 200 online business courses. And for a limited time, visitors can download these classes for free. Once the trial period […] [Read More]

MotiveLogic Corp., which provides service management solutions for dealership  fixed operations, announced recently that it has brought in a former Manheim executive to serve as its president and chief operating officer. Named to the position is Jas Baas, who was Manheim’s director of operations before coming aboard at MotiveLogic. Baas’ duties in the new role include […] [Read More]

Structured as a way to enhance a certified pre-owned, used or new vehicle purchase, Mazda North American Operations this week launched what it’s calling Mazda Total Advantage. OEM officials explained MTA is a new prepaid scheduled maintenance program, which is the first of its kind offered by Mazda. Mazda indicated MTA is available in increments […] [Read More]

Toyota Motor Sales revealed Wednesday that a pair of its hybrid crossover models are part of a voluntary safety recall in the U.S. The recall of approximately 45,500 Highlander Hybrid and 36,700 Lexus RX 400h vehicles from the 2006 and 2007 model years is connected with the Intelligent Power Module. The company explained the IPM […] [Read More]