SANTA MONICA, Calif. — On average, the price of a three-year-old used car is 11.1 percent higher than it was last year, and General Motors has some of the most dramatic examples of this trend, according to Edmunds.com.  In fact, all types of used cars are up 5.5 percent. The normal trend is usually just 3.5 […] [Read More]

CERRITOS, Calif. — Cerritos Dodge Chrysler Jeep is situated on a 100-acre auto mall in Los Angeles County that includes 27 dealerships and loads of competition in the backyard of the nation's second-largest city. The dealership shares the same street as stores representing such brands as Nissan, Honda, Toyota and Chevrolet, among others. So, one way that […] [Read More]

TOYOTA CITY, Japan — Since the company is spread throughout the globe, Toyota Motor Corp. has made significant management changes aimed at moving local personnel to senior management positions in North America and Europe. Toyota believes that making these changes puts in place management structures capable of more rapidly and accurately grasping local conditions and identifying local needs. […] [Read More]

WESTLAKE VILLAGE, Calif. and McLEAN, Va. — New-vehicle retail sales apparently are limping to the finish as June closes. J.D. Power and Associates indicated on Wednesday that weakness seen earlier in the month has progressed at an accelerated rate. As a result, J.D. Power believes the selling rate has dipped below 8.5 million units, according to […] [Read More]

FORT LAUDERDALE, Fla. — MobiDrives shared recent data that indicates 40 percent of all mobile devices in use today are smartphones, with that saturation expected to climb to 90 percent by 2012. Company executives believe they have a technology platform that can help dealers better harness business development possibilities created through consumer smartphones. MobiDrives contends its […] [Read More]

FRANKLIN, Tenn. — Looking at the company's outreach efforts, Nissan North American on Wednesday discussed the recent endeavors of its Nissan Foundation, which gave nonprofits throughout the U.S. a grand total of $578,500 in grants. These nonprofits are located in middle Tennessee, northeast Texas, south central Mississippi and southern California, as well as the Atlanta, […] [Read More]

HAMDEN, Conn. — Central Auto Auction recently joined the AuctionACCESS program, a move officials said makes it the only facility in Connecticut to be a part of that program. "As the sole AuctionACCESS auction in Connecticut, we anticipate a dramatic increase in market share through the expansion of the market we serve," stated Peter Saldamarco, president […] [Read More]

OTTAWA, Ontario — In what has been fairly typical over the last decade, Canada's total insolvencies fell from April to May, this time dipping to 11,526 filings, a drop of 11.3 percent, according to the Office of the Superintendent of Bankruptcy Canada. Seven of the past 10 years have seen total insolvency filings decrease from April […] [Read More]

EDMONTON, Alberta — Carfinco Income Fund, a non-prime auto lender, enjoyed an all-time high in quarterly net earnings for the fifth straight time. The second-quarter net earnings of $4.3 million were up from the previous record of $3.6 million set in the first quarter of this year and marked a 144-percent year-over-year increase. Starting with the second […] [Read More]

EDMONTON, Alberta — AutoCanada's existing credit facility with HSBC Bank Canada has been beefed up and the interest rate on the facility has been cut, the company announced this week. The revolving term loan facility now has availability of $30 million, up from $20 million previously. The interest rate on the facility is now HSBC Prime Rate […] [Read More]