When it comes to what they consider their "dream cars," it appears that shoppers still gravitate toward the high-end luxury and sports cars, according to Cars.com, which put out a list of top 10 dream cars earlier this week based on trends found throughout the site. The No. 1 ride on the list was the […] [Read More]

Toyota detailed its latest scholarship contributions to the Marine Corps Scholarship Foundation, a program to provide assistance to the sons and daughters of Marine Corps parents who have been killed or wounded in combat or have demonstrated financial need. On Wednesday, the automaker presented 16 scholarships that represent the 12 Toyota regional sales offices and […] [Read More]

SOUTHFIELD, Mich. — Credit Acceptance executives revealed recently an extension has been granted on their $75 million revolving secured warehouse facility. The company indicated the date on which the facility will cease to revolve was moved from Aug. 31, 2011 to Sept. 10, 2013. Management added that the maturity of the facility also was extended from […] [Read More]

FORTH WORTH, Texas — On Wednesday, AmeriCredit announced the pricing of an $850 million offering of auto asset-backed securities through lead managers Barclays Capital, UBS Investment Bank and Wells Fargo Securities. Co-managers include Credit Suisse, J.P. Morgan and RBS. AmeriCredit plans to use the net proceeds from this securitization for long-term financing of its receivables. The […] [Read More]

LAKE SUCCESS, N.Y. — With the depth of more federal financial reform still unclear, DealerTrack is devoting part of its upcoming Webinar to discuss how new regulations might affect dealers. DealerTrack experts plan to examine the reform President Obama signed this summer as well as the risk-based pricing rule that goes into effect next year. This free […] [Read More]

McLEAN, Va. — Chevy Chase Bank, which is the ninth-largest largest bank in the country based on deposits, is rebranding to Capital One Bank this week. With the largest network of branches and ATMs in the Washington, D.C., area, Capital One said it is poised to offer its products, such as auto loans, via the newly acquired branch […] [Read More]

A proposal introduced by a California state legislator is meant to require all franchise dealers and some independent stores to utilize an electronic vehicle registration system. It's intended to shave the time needed to get new license plates on vehicles. The method of recouping dealer cost for implementation is drawing fire from consumer groups because […] [Read More]

Wherever Black Book managing editor Ricky Beggs turned, attendees at last week's National Auto Auction Association conference wanted to know the same thing. They kept probing Beggs about how the market is doing and what the industry could expect for the rest of the year. For people not in New York at the conference, Beggs […] [Read More]

If he had to choose between taking a vacation or working at the dealership, Brian Benstock said he would pick the latter. The minority owner of Paragon Honda in Queens and the vice president and general manager of Paragon Acura has mirrored his work ethic after that of the late Paul Singer, the founder of what is now Paragon […] [Read More]

As Chrysler, Jeep and Dodge dealers convened in Orlando, Fla., this week for their first meeting in several years to hear all about Chrysler's plans for a slew of coming new and redesigned models, the automaker's corporate headquarters was also busy working to ramp up the public's excitement. So, after months of waiting what does Chrysler […] [Read More]