KAR Auction Services revealed an amendment for a Canadian subsidiary’s securitization facility. Company officials explained this week that the Canadian floor plan finance company Automotive Finance Canada (AFCI), a subsidiary of Automotive Finance Corp., has entered into an amended and restated receivables purchase agreement dated May 24 by and among AFCI, KAR and a Canadian […] [Read More]

The American International Automobile Dealers Association on Thursday named Pennsylvania dealer and U.S Rep. Mike Kelly winner of its Legislative Action Network Advocacy Award. The award, given at the AIADA’s Fifth Annual International Auto Industry Summit held in Washington, D.C., recognizes Kelly’s dedication to advocating on behalf of AIADA’s dealer members, the association stressed. “Rep. Kelly […] [Read More]

In response to the nation’s deadliest single tornado since the National Weather Service started keeping records in 1950, both General Motors and Ford have pledged money and resources toward relief efforts in Joplin, Mo. The General Motors Foundation gave a $100,000 grant to the American Red Cross to aid recovery efforts for victims of the […] [Read More]

Given today’s high used-vehicle prices and the uncertainty about where the market might be, in say, 30, 60 or 90 days from now, many dealers have been cautious about wholesale purchases, Black Book’s Ricky Beggs pointed out this week.   But he doesn’t believe high prices should necessarily keep dealers from buying what they need. [Read More]

In what TrueCar has called a “sizeable speed bump” to the auto market’s rebound, analysts are expecting May to finish at what would be the softest seasonally adjusted annualized rate for new-vehicle sales so far in 2011 and close to a nine-year-low incentive level. New-vehicle sales are expected to drop on a year-over-year and sequential […] [Read More]

In the midst of a still-uncertain economy and gas prices fluctuating toward the higher end, though down slightly of late, a hefty majority of consumers are apparently planning to go more fuel-efficient with their next ride and aren’t letting much stand in their way, according to Consumer Reports. The magazine found in its recent survey that consumers […] [Read More]

The National Auto Auction Association is hosting a Webinar early next month that will examine how the economy affects the auto market while also delving into what may be in store for the future. The “Economic and Auto Industry Perspective Update” is slated for 2 p.m. (EST) to 3 p.m. on June 7. It will […] [Read More]

On Wednesday it was announced that InspectMyRide, a subsidiary of DataScan Field Services, has become the preferred vehicle inspection company for Cars.com. Now, Cars.com shoppers can buy an inspection from InspectMyRide prior to making a purchase decision. Moreover, InspectMyRide promises the inspection will be done within approximately 48 hours of receiving the request. [Read More]

Cars.com announced Wednesday that the Honda Odyssey was named the winner of its Ultimate Minivan Shootout. During the site’s first-ever minivan competition, it took six redesigned 2011 minivans under $45,000 and let them battle it out in a series of challenges, determining which one was “the best of the pack.” The 2011 Odyssey came out […] [Read More]

On the heels of last month’s deadly tornadoes that struck the Southeast and the more recent storm in Joplin, Mo., Chrysler did its part to help by teaming up with the Rock Quarry Elementary School in Tuscaloosa, Ala., to aid in area schools’ recoveries. In an effort to raise money to replenish tools and school supplies […] [Read More]