NEW YORK — A year after the Cash for Clunkers program launched, Paragon Auto Group has rolled out a new stimulus program that gives shoppers $3,800 to trade in their old ride for a new or used vehicle with better fuel economy. Paragon Honda-Acura's Cash for Clunkers II is the latest of such endeavors involving the company. […] [Read More]

WESTCHESTER, Ill. — Insurance Auto Auctions this week highlighted more plans to connect with motorcycle enthusiasts, this time at one of the largest annual bike events anywhere. The company will have a presence during the 70th annual Sturgis Bike Rally in South Dakota, an event set for Aug. 9 to 15. A team of personnel will […] [Read More]

TORRANCE, Calif. — Toyota officials applauded a decision by the U.S. District Court of the Central District of California that's involving their multidistrict litigation stemming from vehicle recalls and safety concerns. The automaker agreed with the court's choice to approve a joint Phase I discovery plan it previously submitted. "We are pleased that the court has […] [Read More]

McKINNEY, Texas — The owner of two franchise dealerships in McKinney, which is north of Dallas, is out to prove he can take the heat — literally. Beginning Monday, Chris Godwin, who owns Nissan of McKinney and recently acquired McKinney Buick GMC, will spend six days on the roof of his Nissan dealership. The campaign is meant […] [Read More]

ATLANTA — AutoTrader Classics is using Facebook as the catalyst for a contest in which the grand prize is an all-expenses-paid trip for two to the Barrett-Jackson Las Vegas auction in September. Participants can register for what AutoTrader Classics has dubbed "Cars & Vegas" beginning today until Aug. 9 at www.facebook.com/AutoTraderClassics. Officials highlighted the grand prize […] [Read More]

DETROIT — This morning, General Motors announced it is acquiring AmeriCredit to meet consumer demand for leasing and non-prime financing. GM plans to acquire AmeriCredit in an all-cash transaction for about $3.5 billion. While GM will become the non-prime lender's parent company, the plan is for AmeriCredit to continue to serve the dealers it already works […] [Read More]

NEW YORK — In some good news for the industry, in analyzing trends for their default indices Standard & Poor's and Experian discovered that monthly default rates declined for all five credit lines. Auto loan defaults came in at 1.7 percent in June, down slightly from 1.8 percent in May. Defaulting balances on bank card loans came […] [Read More]

DETROIT — Following General Motors' announcement this morning that it is acquiring AmeriCredit, executives with the two companies participated in a conference call with analysts and media to shed some more light on the implications of the transaction. GM's planned purchase of AmeriCredit — a deal meant to help the automaker meet consumer demand for leasing and […] [Read More]

PHILADELPHIA — VINtek recently announced it has expanded its operations in California and opened an office in Sacramento to tackle a range of auto collateral needs in one of the country's highest volume titling states. The office is designed to enable auto lenders and borrowers to take advantage of the benefits of online vehicle registration, as […] [Read More]

HANOVER, Md. — Even as President Obama put his signature on the Wall Street Reform and Consumer Protection Act of 2010 Wednesday, the National Automotive Finance Association as well as two partners from well-known industry law firm Hudson Cook still remain quite uncertain about the depth of how this legislation is going to affect dealers and […] [Read More]