On Friday, KAR Auction Services announced the purchase of AuctionTrac, a company that specializes in offering satellite-based GPS technology for vehicle tracking. “This acquisition allows us to overcome what has been a long-standing obstacle in the auto remarketing industry, an efficient and reliable method for locating and tracking vehicles,” explained David Vignes, executive vice president of enterprise […] [Read More]

In nine years since Edmunds.com analysts started to track average incentive amounts, never have they seen a dramatic drop like this. Edmunds.com estimated that the average automaker incentive in the U.S. was $2,346 per new vehicle sold in March. That figure is down $469 — or 16.7 percent — from March of last year and […] [Read More]

American Honda Motor Co. recently honored 118 of its franchise dealerships as recipients of the President’s Award for 2010. The automaker emphasized the annual award is presented to top-ranking Honda dealerships throughout the country based on their achievement of excellence in all areas of operation — customer service and satisfaction, sales, training and facility. Officials pointed […] [Read More]

On Friday, General Motors announced the sale of its Class A Membership Interest in Delphi Automotive LLP back to Delphi for $3.8 billion. GM acquired the Class A Membership Interest in October 2009 in conjunction with the creation of Delphi. "We are systematically delivering on our commitment to strengthen and simplify our balance sheet," said […] [Read More]

The ongoing legal proceedings connected with the bankruptcy of the old General Motors took another step last week as the U.S. Bankruptcy Court for the Southern District of New York entered an order confirming the second amended joint Chapter 11 Plan of Motors Liquidation Co. Officials indicated the confirmation also stipulates all the conditions to […] [Read More]

Dealerships that utilize Joe Verde sales and management training products now can access tools through mobile phones. The company highlighted last week that Verde’s text message alerts will focus on “The New Basics” of selling to today’s customer with practical, how-to steps to closing the deal and selling a vehicle now. “My texts are for […] [Read More]

Central Auto Auction recently celebrated its fifth anniversary with a special sale on March 1. This event marked a milestone for the family-owned auction centrally located at the “Crossroads of New England,” the intersection of Interstates 95 & 91 in New Haven, Conn. “(It was) our best sale ever,” said Central Auto Auction president and […] [Read More]

Earlier this month, Chrysler Canada celebrated the official return of the Fiat brand to the country by parading more than 200 Fiat 500 vehicles from the Quebec Business Centre along the TransCanada Highway to their respective dealerships. “We are thrilled that the first highly anticipated Fiat 500s have started to land on Canadian soil because […] [Read More]

Because Marcus Breitschwerdt accepted a new company position in the United Kingdom, Daimler AG tapped a new president and chief executive officer for Mercedes-Benz Canada. Succeeding Breitschwerdt in this role effective today is Tim Reuss, who has been with Daimler for the past 24 years. Company officials made the decision since Breitschwerdt has taken on […] [Read More]

FinanciaLinx, an independent Canadian leasing company just purchased by GM Financial this week, recently announced the top auctions in the country.   Taking home the company’s 2010 Auction Achievement Awards are ADESA Calgary and Manheim Toronto.   [Read More]