COLUMBUS, Ohio — Huntington announced Wednesday that it is expanding its auto dealer financing business into five additional states, including Massachusetts, Rhode Island, Vermont, New Hampshire and Maine. Nick Stanutz, Huntington's senior executive vice president and head of the auto finance and dealer services group, said, "We currently are the number one auto dealer lender in Ohio and […] [Read More]

While also breaking ground on a brand new site, ADESA revealed a significant acquisition late Wednesday as the auction company secured six facilities from the Premier Auction Group. Included in ADESA’s acquisition are Bay Auto Auction in Bay City, Mich.; Dealers Auto Auction of Michigan in Clare, Mich.; East Tennessee Auto Auction in Fall Branch, […] [Read More]

On Wednesday General Motors officially commenced its initial public offering in the amount of $13 billion. Rumors and speculation flew all week as to whether the move would come and just how much the IPO would be. Turns out, the company kicked off its IPO just at about the time it announced its preliminary third-quarter […] [Read More]

Making its debut at the 2010 SEMA Show was a new award, which spotlighted the new car, truck and SUV that voters found to be best suited for accessorizing. In some good news for domestics, the Big 3 swept the awards, as each of Detroit’s automakers was represented. Winning the award for Hottest Car was […] [Read More]

Used-vehicle buyers now are keeping their units longer than ever. That’s the finding Polk shared Wednesday. Polk determined that as of the second quarter of this year, consumers own their used vehicles an average of 46.1 months. It’s a rise from the previous quarter’s reading of 45.9 months. Meanwhile according to Polk’s data that goes […] [Read More]

Sewell Automotive Companies recently bolstered its presence in Houston with the purchase of Millennium Audi. Now, Sewell has two stores in Texas’ largest city and 11 stores total, all of which are located in The Lone Star State. Sewell opened the doors on its latest addition, now known Audi North Houston, last month. The store […] [Read More]

Edmunds.com computed the average incentive handed out by automakers to move units in October was down against both the previous month and the year-ago period. Site analysts estimated Wednesday that the average incentive in the U.S. was $2,498 per vehicle sold in October. They indicated that amount was $61, or 2.4 percent, lower than September […] [Read More]

As new-vehicle shoppers these days tend to be very financially conscious, searching patiently and thoroughly for the best deals, understanding this current behavior can give automakers a “golden opportunity” to to reach these thrifty consumers with end-of-year marketing, said James Bell, executive market analyst for Kelley Blue Book’s Kbb.com. [Read More]

Auto Remarketing learned Tuesday that Ralph Fisco has stepped into a new role with Toyota Financial Services as Western region marketing manager. Taking over as national remarketing manager for TFS is Mike Reid. [Read More]

Because so many dealers are looking for the best tools to create quick inventory turns and more, the Pre-Owned Automobile Dealers Alliance aimed to keep store management informed with the return of its ongoing Webinar series. For dealers who might have missed Tuesday afternoon’s edition of Pre-Owned LIVE with experts from AutoTrader.com, Black Book, Manheim […] [Read More]