On Wednesday Saab chief executive officer Jan Ake Jonsson confirmed the automaker has struck a new deal with BMW to supply gas engines for future Saab models. Via the deal, BMW will supply Saab with 4-cylinder 1.6 liter turbocharged gas engines from 2012. The engines will be adapted to meet the automaker’s specific requirements. “It […] [Read More]

After a Detroit Fox affiliate news station caught several Jefferson North Assembly Plant workers drinking and displaying “inappropriate conduct” during their lunch break, Chrysler reviewed the evidence and ultimately fired 13 workers. “Chrysler Group has completed its investigation of the Jefferson North employees recently suspended for inappropriate conduct during their lunch period,” Chrysler said in […] [Read More]

Dealix UsedCars.com and the National Independent Automobile Dealers Association have struck a deal that can allow NIADA members to expand the scope of their online inventory listings, thus helping them connect win more potential customers. Dealix said it gives dealers who sign up for its services a prime spot on UsedCars.com. These dealers also get […] [Read More]

Given a choice of five factors, 37 percent of consumers indicated that their decision to buy a vehicle was most heavily affected by the model’s quality, a recent CarMax survey released. The poll, done via telephone, posed the following question to respondents: “Which of the following factors most influences your car-buying decision?” [Read More]

The International Automotive Remarketers Alliance said its August Roundtable Meeting generated record attendance, something the executive director said was driven by a few key factors. Specifically, there were 163 people who attended the meeting, which was held in Denver. Officials indicated that Matt Marks, IARA’s executive director, pointed to solid programming and the organization teaming […] [Read More]

AUBURN HILLS, Mich. — Chrysler announced today that it has selected Ally Financial as the preferred financing provider for Fiat vehicles in the U.S. Ally plans to provide retail financing, leasing, wholesale financing, working capital and facility loans, in addition to remarketing services for the soon-to-be established Fiat dealer network. "This relationship will help dealers fund […] [Read More]

CINCINNATI — Security National Automotive Acceptance Corp. recently received revolving credit facilities from both Wells Fargo Preferred Capital and Fifth Third Bank to expand its auto finance and insurance operations. The total amount SNAAC secured was $200 million. "We are extremely pleased that our relationship with Wells Fargo Preferred Capital and Fifth Third Bank continues to […] [Read More]

NEW YORK — After conducting analysis spotting a significant need, Sparta Commercial Services this week is launching a new consumer leasing program targeted at the non-prime powersports market. Fueled by a multimillion-dollar line of credit it closed recently, Sparta believes it is uniquely positioned to assist powersports dealers throughout the country who have had difficulty finding […] [Read More]

NEW YORK — Fitch Ratings recently revealed that U.S. prime auto delinquencies declined 33 percent on a year-over-year basis. On a month-to-month basis, delinquencies inched higher just a bit, however, which Fitch attributes mostly to seasonal trends. Fitch found that prime auto delinquencies increased one basis point to 0.57 percent from 0.56 percent in July. This […] [Read More]

As was expected, AmeriCredit shareholders voted in favor of the company’s acquisition by General Motors. Since more than the required 66.7 percent of AmeriCredit issued and outstanding shares voted in favor of the transaction, executives said the merger is now expected to close Friday, Oct. 1. The votes were reported at a shareholder meeting held […] [Read More]