GARDEN CITY, N.Y. — Chase and Mazda North American Operations on Wednesday broadened their working relationship by agreeing to a multi-year private-label contract. The agreement means Chase will be the exclusive U.S. auto finance provider for Mazda, operating under the brand name Mazda Capital Services. Officials indicated that the Mazda Capital Services brand will roll out […] [Read More]

WASHINGTON, D.C. — The American Bankers Association's Consumer Credit Delinquency Bulletin shared more positive news about the recovering economy this week. Direct and indirect auto loan delinquencies were among nine of the 11 categories that dropped or remained flat during the fourth quarter of 2009. The ABA said that direct auto loan delinquencies fell 10 basis […] [Read More]

CLEARWATER, Fla. — On Wednesday, Nicholas Financial announced it has opened two new branch offices located in Nashville, Tenn., and Grand Rapids, Mich. The new offices expand Nicholas Financial's branch network to 52 locations. The company expects to open a fifth branch in the greater Atlanta metro area during the current quarter, bringing the total […] [Read More]

CHARLOTTE, N.C. — Wells Fargo Securities' managing director and senior economist indicated this week that the recovery is real and that his company is not anticipating a double-dip recession, which bodes well for the auto industry. In fact, Mark Vitner said credit availability has improved and is continuing to become better. More specifically, Vitner explained to […] [Read More]

MONTVALE, N.J.  — Certified pre-owned sales during March showed a year-over-year increase for the first time since January 2009, and several automakers posted record sales. Specifically, there were 145,157 certified units sold, a 7.3-percent increase over March 2009, according to Autodata Corp. statistics. This upswing ended a string of 13 consecutive months of year-over-year sales declines. […] [Read More]

DETROIT — In the latest part of its rebuilding process, General Motors said this morning that it has finished fresh-start accounting. The automaker revealed it was filing its 2009 Form 10-Q and 2009 Form 10-K with the SEC today, as well. "We are building the foundation that will allow us to return to public ownership," stated […] [Read More]

PITTSBURGH — A recent survey completed by Women-Drivers.com analyzed the purchasing experiences of women at a dealership in two categories — women older than 40 and younger than 40. Which group had the more enjoyable experience? Turns out, the site found that female buyers older than 40 had a better overall dealership experience. The positive percentage for […] [Read More]

REDWOOD CITY, Calif. — Dealix, a division of Cobalt, on Wednesday announced that it has continued to enhance UsedCars.com since the company re-launched the site last year. The latest new feature, "My Account," is a tool that can allow vehicle shoppers to filter their searches more thoroughly. Site officials explained that consumers can utilize UsedCars.com's advanced search filters […] [Read More]

BRUSSELS — The Renault-Nissan Alliance and Daimler AG have teamed up for a wide-ranging partnership that will include the companies cooperating on a number of projects and sharing best practices. Furthermore, the Renault-Nissan Alliance will take a 3.1-percent stake in Daimler. Meanwhile, Daimler will receive a 3.1-percent stake in Nissan and a 3.1-percent stake in Renault […] [Read More]

REDWOOD CITY, Calif. — Roughly seven months after announcing that Clive Kinross would be stepping down from his post as president of the company, OPENLANE officially named his replacement. Appointed on Tuesday as president, effective immediately, was Peter Kelly, the company's chief financial officer and one of its founders. Kelly will remain CFO, as well as […] [Read More]