The Honda Element will soon meet its end, with the 2011 edition being its swan song. American Motor Honda Co. said Friday that production of the “boxy, bold” crossover will cease after the 2011 model year. “The Element proved that ultimate functionality can often come from thinking inside the box,” stated John Mendel, executive vice president […] [Read More]

In what the president and chief executive officer called the “most important achievement” while discussing the company’s financial results from the third quarter,  Calgary, Alberta-based Quorum Information Technologies generated positive cash flow for the fifth straight quarter. President and CEO Maury Marks said there were “mixed results” in the company’s financials from the third quarter […] [Read More]

RouteOne Canada recently revealed that it has added another lender to its online credit application management system. Coming aboard was BMO Bank of Montreal, which is an operating division of BMO Financial Group. “RouteOne Canada is extremely pleased to have BMO Bank of Montreal, one of the premier lenders in Canada, join the RouteOne platform,” shared RouteOne Canada […] [Read More]

In what appears to be some good news for the Canadian vehicle finance industry, delinquencies on auto loans in Canada during the third quarter dipped “noticeably” compared to the same period of 2009 and were basically flat on a sequential basis, according to TransUnion’s analysis of auto lending and credit card trends. Auto borrower debt […] [Read More]

New-vehicle sales showed some vibrancy in November, and the coming months are likely to be robust, as well, the National Automobile Dealers Association’s chief economist Paul Taylor said Thursday. The state of the used-vehicle market is one of the factors helping the new-car sales strength, he added. [Read More]

As 2010 draws to a close, apparently questions have arisen about what Fiat needs to accomplish to increase its stake in Chrysler.   Fiat already holds a 20-percent stake in Chrysler under the Chrysler-Fiat Industrial Alliance established as part of the process of Chrysler coming out of bankruptcy. According to the alliance agreements, Fiat can gain an additional 15 […] [Read More]

Asbury Automotive Group announced Thursday that it has officially closed its Greenville Automotive Group purchase. Moreover, in addition to completing a stock repurchase, the automotive group revealed it is planning to sell its heavy-truck business. [Read More]

AutoNation enjoyed double-digit growth in retail new-vehicle sales during November, showing increases across all three of its operating segments. Specifically, the dealer group posted retail new-vehicle sales of 15,511 units. This was up 16 percent year-over-year. [Read More]

KAR Auction Services made a pair of announcements Thursday regarding its cash tender offer for notes as well as the maximum aggregate principal amount of notes to be purchased. One notice revealed preliminary results of its previously announced cash tender offer made pursuant to the terms of an offer to purchase dated Nov. 12. That […] [Read More]

Chrysler rolled out a new package of incentives for several 2010 and 2011 models that are valid through Jan. 3. Consumers purchasing the 2010 Chrysler Town & Country or the 2010 Dodge Grand Caravan minivans are eligible for zero percent financing for 72 months or up to $2,000 in Owner Loyalty cash. The automaker pointed out […] [Read More]