In some good news for the domestic auto industry and potentially other sectors of the economy as well, Ford said Monday that it plans to bring more than 7,000 jobs to the nation’s embattled job market during the next two years. These new jobs will be spread throughout the U.S. and will include both hourly and salaried […] [Read More]

Manheim economist Tom Webb admits he’s usually not as upbeat as some other industry prognosticators, especially this time of year as the North American International Auto Show ramps up in Detroit. However, during his quarterly conference call Monday in conjunction with the latest Manheim Used Vehicle Value Index, Webb spoke glowingly about several elements of […] [Read More]

Fiat now owns a quarter of Chrysler Group’s shares thanks to the automaker reaching the first performance-related metric in a series of three milestones detailed in Chrysler’s Operating Agreement, each of which automatically adds 5 percentage points to the stake owned by Fiat. [Read More]

Ford swept these honors last year, but Chevrolet muscled in and took one of the accolades Monday from the North American Car of the Year Organizing Committee. Continuing the positive momentum for these domestic automakers, the committee tapped the Chevrolet Volt as the 2011 North American Car of the Year and then went with the […] [Read More]

An industry veteran who founded technology companies later acquired by ADP and DealerTrack has been tapped as vAuto’s new vice president of marketing. Accepting this role is Dinos Constantine, who is coming on board after most recently working as chief information officer at Holler Classic Automotive Group, one of vAuto’s customers in Orlando, Fla. Executives indicated Constantine […] [Read More]

LOS ANGELES — Bill Walters, vice president of remarketing at Westlake Financial Services, recently summed up some of the trends his company has been witnessing in the market. While the industry as a whole has been seeing higher prices in the auction lanes, so too has Westlake. "Like many sellers of older-model used vehicles, Westlake Financial […] [Read More]

IRVING, Texas — Exeter Finance Corp. announced this week that it has appointed an industry veteran to serve as its executive vice president and chief marketing officer. Taking on this position is Elizabeth Webb. She will oversee new business development, brand management, product development, and sales and marketing strategies. "Exeter is focused on growth as today's marketplace […] [Read More]

WASHINGTON, D.C. — The upward march by the average interest rate on new-car loans at auto finance companies reached five months in a row in November, according to the Federal Reserve. Officials indicated the November average crept up to 4.63 percent from the October reading of 4.52 percent. The ascension began back in July when the […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack Holdings revealed Monday it has signed an agreement to acquire triVIN Holdings, a provider of title management services to lenders and vehicle registration services to dealers.  DealerTrack executives said they will pay approximately $131 million, net of any cash acquired. They indicated the transaction will be financed with existing cash. Management […] [Read More]

A Pennsylvania woman and her brother apparently had a very un-merry Christmas Eve. State police in Indiana County are investigating the incident that took place on Christmas Eve. According a story published by the Pittsburgh Post-Gazette, law enforcement indicated two men came to Diane Howard’s White Township home and told her brother they were sent by […] [Read More]