New-vehicle sales for import automakers showed double-digit gains in the final month of 2010, a year that turned out to be relatively healthier for the overall auto industry, according to American International Automobile Dealers Association AIADA said, citing AutoData Corp. data, that import brands moved about 6.36 million units in 2010, which marked a 9.3-percent rise […] [Read More]

The National Vehicle Leasing Association is holding an online seminar next week that is designed to show leasing companies how they are impacted by the Federal Trade Commission’s Red Flags Rule. The “Red Flags for Leasing Companies” Webinar will begin at 2 p.m. EST on Jan. 13 and will be hosted by Michael Benoit, a […] [Read More]

With tax season already begun, Carolina Auto Auction is hosting a sale next month that it believes will help dealers get the necessary inventory to meet the potential spike in retail demand once consumers start getting their tax returns back. The Tax-Time Sale will be held on Feb. 9, and is scheduled to include consignment from […] [Read More]

The new ownership of Volkswagen of Corpus Christi has recently gained approval from the automaker. Progress at the dealership has been rolling along for months, the store says. Partners Leo Griggs, Eddie Lee and Luis Perez bought the dealership back in June, and since then, they say it has shown a significant turnaround from what […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute tallied up total U.S. consumer bankruptcies for 2010 and found a rise of 9 percent from the previous year. According to data from the National Bankruptcy Research Center, ABI revealed overall consumer filings for the 2010 calendar year totaled 1,530,078. In 2009, the amount was 1,407,788. The institute indicated […] [Read More]

FARMINGTON HILLS, Mich. — Mercedes-Benz Financial Services shared an update Thursday about its eStrategy initiative — a process to boost the number of franchise dealers that are eligible to integrate a full electronic contract data validation system into their dealer management system. So far, officials indicated the rollout is now complete for Mercedes-Benz dealers using ADP (Automatic Data […] [Read More]

AVOCA, Pa. — A recent partnership between GWC Warranty Corp. and Tidewater Motor Credit means the subprime lender can now offer exclusive vehicle service contracts through its dealers to give used-vehicle buyers that added peace as mind, as well as an additional revenue stream for dealers. "Tidewater Motor Credit is excited to partner with GWC Warranty […] [Read More]

NEW YORK — Reporting on November results just before the holidays, Fitch Ratings said the strong momentum in the used-vehicle market continues to buck seasonal norms, leading to "uncharacteristically stable" auto asset-backed collateral performance. Going into the first quarter of 2011, Fitch said it has dubbed ABS ratings performance for both prime and subprime as "stable/positive." […] [Read More]

Consumer Reports said this week that it can’t recommend three domestic SUVs of varying sizes due to the models’ low test scores. The publication had evaluated the three vehicles — the Chevrolet Tahoe, Ford Edge and Lincoln MKX — along with three additional SUVs (the Infiniti QX56, a V8 Jeep Grand Cherokee and a Porsche […] [Read More]

Group 1 Automotive announced this week it amended and restructured its $235 million, five-year revolving mortgage facility. Executives explained the amended facility is a $42.6-million, five-year, variable-rate, term loan, financing specific dealership properties with Bank of America N.A. and Comerica Bank. They said the facility may be expanded to $75.0 million in total availability. In […] [Read More]