Though down from December — typically a lease-heavy month — the leasing industry started 2011 by again cracking the 20-percent penetration mark, according to data provided in the most recent Industry Health Review from J.D. Power and Associates. Specifically, lease penetration was a 20.2 percent in January, compared with 19.2 percent a year ago. However, leasing […] [Read More]

The National Highway Traffic Safety Administration revealed General Motors is recalling the Cadillac CTS from the 2009 and 2010 model years. The recall affecting more than 11,000 units is to rectify a condition in which a wax coating on the rear suspension toe link jam nuts may allow the nuts to loosen. If a nut […] [Read More]

Contrary to what the automaker is doing in Japan, American Honda Motor Co. recently reiterated that the Civic is to remain a featured model of the automaker’s U.S. lineup. William Walton, manager of Honda product planning, clarified the situation opposing some banter that evidently made the rounds on the Internet. “Our colleagues overseas at Honda […] [Read More]

A new organization that is designed to offer a myriad of compliance, regulatory, educational and legislative tools to dealers has been formed. The Professional Dealers Institute was founded by Jim Edwards — who has expertise in risk management, undisclosed prior damage and diminished value — and Kathryn Messenger, who has expertise in dealer compliance. What […] [Read More]

A Canadian BMW dealer is offering someone well-versed in all things that stem from social media the chance to do more than just tweet or post a message on Facebook about the brand. Endras BMW is taking applications for a social media savvy professional and BMW enthusiast to take on a yearlong contract and “land the […] [Read More]

Anticipating that this year will be even better, Daimler AG shared Wednesday the significant net profit turnaround the company witnessed from 2009 to 2010. The company said it generated a net profit of 4.7 billion euro last year. To show the depth of the turnaround, Daimler suffered a net loss in 2009 of 2.6 billion euro. […] [Read More]

LAKE SUCCESS, N.Y. — Along with sharing how the company performed financially during the fourth quarter and all of last year, DealerTrack Holdings announced this week it has acquired one of the businesses previously owned by R.L. Polk & Co. With plans to merge the newly acquired entity into subsidiary Chrome Systems, DealerTrack said it […] [Read More]

ALEXANDRIA, Va. — For the first time in three years, total bankruptcy filings in the United States didn't climb by double digits year-over-year. The American Bankruptcy Institute reported this week that total 2010 bankruptcies increased 8 percent above the 2009 amount, according to data released from the Administrative Office of the U.S. Courts. The institute […] [Read More]

HERNDON, Va. — As Volkswagen Credit and Audi Financial Services prepare for the launch of the new VW Passat in August and Beetle in September, the captives have tapped a new agency of record to roll out a customer loyalty campaign and more to support the launches and sales. Pappas Group will also work to provide […] [Read More]

DALLAS — The purchase and financing of an average-priced new vehicle accounted for 23.2 weeks of median family income in the fourth quarter, an improvement of 0.5 weeks, according to Comerica Bank. Consumers spent an average of $700 less, down 3 percent, on a new car in the fourth quarter. Meanwhile, the cost of financing a […] [Read More]