EDEN PRAIRIE, Minn. — To help the company make the most of technology, GE Capital Fleet Services has launched a Technology Client Advisory Board composed of leaders from various GE clients who will share their thoughts on how GE Fleet can improve when it comes to technology and contribute their insight for the development of products […] [Read More]

HOUSTON — Group 1 Automotive revealed Wednesday the company gained a franchise dealership located within the market of its headquarters while selling off another franchise operation in Florida. Executives announced they've been awarded a Mini franchise to complement BMW of Clear Lake, an existing dealership near Houston. They expect to begin selling Mini vehicles out of […] [Read More]

FOUNTAIN VALLEY, Calif. — Hyundai Motor America and its network of franchise dealers in the United States recently rolled out a new initiative to raise funds to fight childhood cancer. The automaker declared dealers have pledged to donate a total of $3 million to Hyundai Hope on Wheels based on vehicles sold during the month of […] [Read More]

DETROIT — General Motors has apparently decided to forgo plans to acquire a captive lending arm and instead is in talks with various financial institutions to strike up new partnerships that increases auto loans approvals across the credit spectrum. GM already works with AmeriCredit to get credit-challenged customers behind the wheel of its vehicles, but it […] [Read More]

WOODCLIFF LAKE, N.J. — Initially rolled out to five states, BMW Group Financial Services and Open Dealer Exchange emphasized their ever-expanding relationship enables BMW dealers to enjoy paperless eContracting and contract data validation directly through Open Dealer Exchange. They believe the solution can provide one single process for the retail sale or lease of new vehicles […] [Read More]

CHICAGO — TransUnion wanted to learn more about how consumer performance might vary if the individual had multiple accounts with the same lender as opposed to having just one relationship. The company this week released study findings that examined this situation and found consumers with multiple account relationships "dramatically outperformed" ones with a single account. TranUnion […] [Read More]

DALLAS — Santander Consumer USA announced today that it will purchase $3.2 billion of CitiFinancial Auto's loan portfolio. Moreover, Santander has also agreed to service a portfolio of approximately $7.2 billion of auto loans that will be held onto by Citi. The $3.2 billion portfolio purchase will be at a price equal to 99 percent of […] [Read More]

WASHINGTON, D.C. — It looks like dealers have moved closer to winning the congressional battle and gaining exemption from the consumer protection agency, but some hitches appear to remain. Apparently congressional leaders who are seeking to combine Senate and House legislation on financial reform agreed to exempt dealers, according to a report by the Wall Street […] [Read More]

RICHMOND, Va. — CarMax posted significant gains in just about every financial category during the first quarter of its fiscal year that concluded May 31. From net sales and operating revenues to net earnings as well as total used unit sales, company executives detailed positive advancements of 9 percent and more for each. Among the broad […] [Read More]

SANTA MONICA, Calif. — Although vehicle recalls have dominated the automotive headlines in the first half of 2010, it's not necessarily cause for significant alarm, according to Edmunds.com. In fact, the site suggested that recall issues were more problematic in the past. And in the wake of heavy news coverage, automakers and consumers, alike, have been […] [Read More]