General Motors is using its profitable momentum to put more workers back on the company payroll. Chairman and chief executive officer Dan Akerson presided over Tuesday’s announcement that automaker will invest about $2 billion in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities in eight states. “We are […] [Read More]

As the certified pre-owned market continues to pick up steam, Hyundai Canada recently rolled out a newly formed CPO program and has enlisted the help of CarProof to provide vehicle history reports as well as other services. Eligible vehicles must undergo a 120-point inspection, and each unit must include a CarProof vehicle history report.  [Read More]

The sequential gains in the wholesale market rolled on during April, according to the latest analysis from RVI Group. Specifically, analysts spotted a 2.4-percent month-over-month gain (seasonally adjusted) and a 16.1-percent year-over-year hike in the month’s wholesale prices. In light of fuel-cost hikes — national gas prices are now close to $4 a gallon — […] [Read More]

A year-over-year total revenue gain of more than 30 percent helped Autobytel shave its first-quarter net loss down significantly compared to the losses it sustained in earlier quarters. Company officials calculated their first-quarter net loss amounted to $571,000 or 1 cent per share, which was sharply reduced from a net loss of $3.3 million or […] [Read More]

The International Automotive Remarketers Alliance announced Tuesday that Mike Albert Fleet Solutions has become a member. Cincinnati-based Mike Albert Fleet Solutions manages fleets in the U.S., Canada and Puerto Rico, as well as providing fleet optimization solutions for dealers, including strategies to build brand awareness and increase productivity. [Read More]

Management at Dollar Thrifty Automotive Group was tight-lipped Monday regarding the latest offer from Hertz Global Holdings to purchase the company. Hertz laid out an offer Monday morning for the country’s fourth-largest rental company that would pay Dollar Thrifty shareholders $72 per share. Comprising that $72 per share amount would be $57.60 in cash and […] [Read More]

ADESA continued to bolster its dealer consignment initiatives as the auction company tapped two veterans Monday to be directors of strategic sales and services within its dealer services division. Reporting directly to Tim Zierden, ADESA vice president of dealer sales and services, are  Doug Hadden and Mike Waterman. “The addition of Doug and Mike to […] [Read More]

Describing his findings in Black Book’s latest look at the wholesale marketplace, managing editor Ricky Beggs shared how a pair of distinct dealer sentiments are showing up in the lanes nowadays. Included in his weekly video report, “Beggs on the Used Car Market,” the Black Book veteran  indicated the majority of the comments from dealers […] [Read More]

For the second month in a row, the Kelley Blue Book Market Report recommended dealers remain cautious about going overboard in terms of stocking their inventory with fuel-efficient models. Granted, consumer demand has sent wholesale prices for these units soaring higher, but this surge won’t last forever, KBB stressed. Alec Gutierrez, KBB’s manager of vehicle […] [Read More]

With an imminent launch of four new models, Saab Cars North America brought in a veteran from another import automaker to be its new president and chief operating officer. Tapped for the role Monday was Timothy Colbeck, who joins the automaker from Subaru. This news comes as Saab embarks on what it calls its biggest-ever […] [Read More]