The leasing market is expected to see a boom this year and then ride that wave over the next five years, ALG said in analysis released Thursday. What individual brands will reap the benefits? According to ALG, the luxury brand that will show the largest uptick this year will be Land Rover, thanks to the […] [Read More]

Manheim and VW Credit, the financial services subsidiary of Volkswagen Group of America, revealed Thursday they’ve expanded the number of North American auction locations dedicated to handle sales for the captive. Officials indicated the total number of Manheim locations that orchestrate VCI sales now stands at 11 with the addition of Manheim Seattle. The companies […] [Read More]

The children’s nursery rhyme “Itsy, Bitsy Spider,” could take on a whole new connotation when considering the recall Mazda North America announced Thursday. Mazda said it plans to contact 65,916 owners of the Mazda6 from the 2009 and 2010 model years. These Mazda units equipped with a 2.5-liter four cylinder engine are to be inspected […] [Read More]

Copart said it notched a 6-percent year-over-year lift in net income during the second quarter of its 2011 fiscal year, which wrapped up Jan. 31. Meanwhile, operating income climbed double digits, as did quarterly revenues. Specifically, Copart posted net income of $37.9 million. Operating income for the quarter came in at $60.2 million, which marked […] [Read More]

Chrysler is recalling more than 216,000 vehicles in an international recall to replace a wireless ignition node and key fob that could lead to the engine inadvertently shutting off in certain vehicles. The recall includes Chrysler Town & Country, Dodge Grand Caravan and Dodge Journey AWD vehicles, all of which are from the 2010 model-year. […] [Read More]

Penske Automotive Group made a statement Thursday to holders of the $150,602,000 outstanding principal amount of its 3.5 percent senior subordinated convertible notes due in 2026. The notification indicated that pursuant to the terms of the notes, Penske said these holders have a put option to require the company to purchase all or a portion […] [Read More]

Toyota’s latest philanthropy effort is being dubbed “100 Cars for Good,” a campaign that intends to award 100 vehicles during the course of 100 days to 100 nonprofit organizations based on votes from the public. Beginning Monday, the automaker explained that registered 501c(3) nonprofit organizations can apply online through Toyota’s Facebook page for a chance […] [Read More]

For the first time since last September, independent stores sold more used vehicles than franchise dealers in February, according to CNW Research. The firm compiled the February used-vehicle sales data and found independent dealers sold 668,276 units, representing 37.08 percent of the month’s total. CNW determined that franchise stores moved 619,214 units in February, 34.35 […] [Read More]

A week after explaining a recall of more than 140,000 trucks, Ford on Wednesday released details about more recalls of various truck and CUV models in both the U.S. and Canada. The first voluntary recall the automaker revealed is connected with 25,000 Ford Rangers from the 2010 model year. The decision affects 23,000 units in […] [Read More]

In the first full year of operations, the Motor Trend Certified Pre-Owned program notched more than 10,000 sales, officials said Wednesday. Motor Trend crafted the program, which is powered by EasyCare. It was rolled out Sept. 9, 2009. As some may know, Motor Trend Certified aims to supplement the factory CPO sales at dealerships, giving […] [Read More]