SANTA MONICA, Calif. — Since gas prices haven't rocketed back up to mid-2008 levels, TrueCar.com analysts have noticed demand for SUVs is as strong as ever. The July edition of the TrueTrends by TrueCar Report shows that 2010 SUVs are the fastest-selling category of vehicles. Analysts pinpointed luxury and midsize SUV segments, specifically, as being discounted less […] [Read More]

DETROIT — The Ally Financial Board of Directors recently declared quarterly dividend payments for certain outstanding preferred stock, with the largest dividend to be paid out to the U.S. Department of Treasury. Basically, a quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2, of about $257 million, or […] [Read More]

ATLANTA — OVE.com is holding two educational conferences this summer for the company's independent auction partners to learn how they can maximize the site's services and to share best practices with one another. The first of the inaugural Independent Auction Summits will be held at the Manheim DRIVE Center in Atlanta on July 26 from 11:30 a.m. […] [Read More]

PALO ALTO, Calif., and TOKYO — Telsa Motors and Toyota Motor Corp. officially signed an agreement late last week stemming from a May announcement. That's when they revealed collaboration toward development of an electric version of the Toyota RAV4. Tesla's Elon Musk and Toyota's Akio Toyoda are aiming for their companies to bring an electric version […] [Read More]

MISSISSAUGA, Ontario — June marked the second straight month of sequential gains in the ADESA Canada Used Vehicle Price Index, as the softening in used prices was not as strong as anticipated. Specifically, ADESA's data — powered by ALG Canada — indicates that there was a 0.6-point month-over-month rise in the index in June on a seasonally adjusted basis. […] [Read More]

RICHMOND HILL, Ontario — While the checklist of progress made in the auto industry in the year since General Motors and Chrysler completed their bankruptcy processes is largely positive, there remains one particularly glaring weak spot, according to Dennis DesRosiers. He looked at data on Canada's auto-sector job market and called the situation "very ugly." The number […] [Read More]

TORONTO, Ontario — The car for the Canadian Heroes Initiative's NASCAR team rolled out earlier this week. It is designed  to honor the country's military, but unless the team can acquire funding, it could be "parked forever," according to officials.  The team does not have any funding, so to enable this team to participate in Canada's NASCAR […] [Read More]

WESTLAKE VILLAGE, Calif. —The Big 3 enjoyed some good news on Thursday, as it was revealed that their brands earned a stronger average vehicle appeal score from J.D. Power and Associates than their import counterparts. This is something that hasn't happened since 1997. Specifically, the average score for domestics in J.D. Power's 2010 Automotive Performance, Execution and Layout […] [Read More]

ATLANTA — Utilizing the customer data from market research last fall, Manheim began an advertising campaign in late May that will run for about two years. It emphasizes what the company described as Manheim's deep understanding that its customers have a wide range of needs and business goals — as well as wide-ranging character traits that make them […] [Read More]

DEARBORN, Mich. — Among several senior leadership shifts announced Thursday, Ford said that the role of Jim Farley, who serves as the automaker's group vice president of global marketing and Canada, Mexico and South America operations, will be significantly more comprehensive and far-reaching starting next month. On Aug. 1, Farley will become what Ford called its "global […] [Read More]