ALEXANDRIA, Va. — Leadership from the American International Automobile Dealers Association touted the higher sales performance member dealers posted in July. AIADA indicated international nameplate franchises accounted for 56.3 percent of all vehicles sold in the United States in July. The figure moved higher than the June mark, which was 53.4 percent. Looking at the specific […] [Read More]

ATLANTA — As Porsche celebrates 60 years in America, the German automaker is unveiling several promotional initiatives, including the launch of a new website. Company officials indicated the website is set to go live next week with contests, videos, stories and images. They stressed this new site is meant to "celebrate the cars and people that […] [Read More]

DETROIT — General Motors announced this week that a member of its board of directors who helped the company steer through its bankruptcy proceedings has retired. That member is Kent Kresa. In accordance with company guidelines, GM said members are ineligible for re-election after the age of 72. Kresa, who is 72, was appointed to the […] [Read More]

SOUTHFIELD, Mich. — Stabilizing returns greatly aided Credit Acceptance Corp. in making significant gains in both consolidated and adjusted net income during the second quarter. The company reported earlier this week that its consolidated net income for the quarter that ended June 30 totaled $49.0 million, or $1.55 per diluted share. This marked quite a rise from the same […] [Read More]

SAN ANTONIO — Military personnel and their families who use USAA for assistance in making a vehicle purchases now can put an iPhone to work during the process. Officials from USAA recently rolled out an app for their assistance program, Auto Circle. They explained that Auto Circle from USAA can help members save an average of $4,508 […] [Read More]

ATLANTA — In an interview with SubPrime Auto Finance News on Manheim's Mid-Year Used-Car Market Report, Tom Webb explained that repossessions are declining throughout the industry and that loans performed well given the big loss in unemployment. He also indicated that dealers are gaining better access to floor planning, while lenders are ramping back up their […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute reported this week that bankruptcy filings are up 9 percent over last month and the previous year. More specifically, bankruptcy filings came in at 137,698 in July, compared with 126,434 in July of last year, based on data from the National Bankruptcy Research Center. In June 2010, the data showed […] [Read More]

AUBURN HILLS, Mich. — Chrysler announced today that it will continue offering its 60-day pledge and national Tent Event promotions through the end of this month. To sweeten the pot, the automaker will also continue offering zero-percent financing via Ally Financial, as well. "Ally Financial continues to be an important partner to us, financing about 50 percent of our […] [Read More]

FORT LAUDERDALE, Fla. — AutoNation enjoyed both month-over-month and year-over-year gains in retail new vehicle unit sales for July. Executives said Wednesday that the amount of new vehicles moved in July totaled 19,688. They indicated this amount represents a 5-percent climb from July 2009, a month the company mentioned had the benefit of Cash for Clunkers. AutoNation […] [Read More]

LEXINGTON, Ky. — The social media buzz has been around for a while. Facebook recently announced it has reached half a billion users, and you still think that social media is a fad? How could that possibly be since almost all dealerships have been practicing social media since the beginning of the automotive industry? Now I will […] [Read More]