DETROIT — General Motors announced the creation of a venture capital subsidiary on Friday that the automaker says can help it build new automotive and transportation technologies to deliver to consumers. General Motors Ventures, LLC — which officials contend will also help the company in its attempt to foster relationships with other venture capital companies — will be […] [Read More]

ATLANTA — With Ford announcing its plans last week to close up Mercury in the fourth quarter, AutoTrader.com set out to find which brands are likely to grab the most would-be Mercury new-vehicle buyers. Based on the site's cross-shopping data, it appears that the automaker best-positioned to gain the highest proportion of shoppers who were interested […] [Read More]

FAIRFIELD, Calif. — Copart executives kept their fiscal third-quarter analysis short since they were so happy about healthy jumps in both their operating income and net income levels. As compared to the same quarter of the 2009 fiscal year, Copart's operating income climbed 11.2 percent — about $7.2 million — to $72.1 million. Its net income increased by […] [Read More]

MIAMI — In light of Ford's recent decision to cease production of Mercury, executives from LeaseTrader.com went back through its archives to find vehicles from the brand that generated the most activity at its site. It turns out by a relatively slim margin, the Mercury Mariner topped this list. Site officials found the Mariner constituted 19.8 […] [Read More]

SANFORD, Fla. — Sanford Auto Dealers Exchange late last week picked a remarketing veteran to be its new national accounts manager. The independent auction located in central Florida decided to go with Michael Mancuso for the post. "We are very pleased to have Mike with us at SADE," noted Michael Tumminello, the auction's owner and managing […] [Read More]

BLOOMFIELD HILLS, Mich. — QEK Global Solutions, a proprietary asset management software provider to several automakers, announced the return of an executive who previously spent more than 10 years at the company. Taking on the role as the vice president of strategic sales is Craig Cheatle, who worked at QEK from 1992 through 2004. All told, QEK […] [Read More]

MONTVALE, N.J. — Mercedes-Benz recently welcomed the world's top male tennis player as its latest brand ambassador. Agreeing to a multi-platform, multi-year global marketing deal with the automaker was Roger Federer, who has 16 Grand Slam titles to his name and boasts the No. 1 ranking on the ATP World Tour. Covered under the deal are […] [Read More]

FRANKLIN, Tenn. — Nissan Canada has appointed a new president to succeed Mark Grimm, who is retiring from the post after 26 years with the automaker. Taking over as president of Nissan Canada is Allen Childs, who was previously vice president of parts and service for Nissan North America. Childs also assumes Grimm's spot as a […] [Read More]

OTTAWA, Ontario — The Canadian Automobile Dealers Association recently gave Canada's Minister of Justice Rob Nicholson praise for the tabling of a bill to crack down on vehicle theft, legislation that it says needs to be passed swiftly. Bill number S-9, titled "An Act to amend the Criminal Code (auto theft and trafficking in property obtained by […] [Read More]

TORONTO, Ontario — The Ontario Honda Dealers Association will sponsor a "Free Friday" next month at the 2010 Honda Indy Toronto at Exhibition Place that will give IndyCar racing fans the chance to see open-wheel racing for free while also taking up donations for Make-A-Wish Canada. The Friday session is part of many racing events and other […] [Read More]