HOUSTON — Group 1 Automotive revealed on Tuesday a new lending partner in its syndicated credit facility to take the spot of BNP Paribas. Joining the $1.35 revolving credit facility was Mercedes-Benz Financial, which bumps the number of captive lenders in the facility up to four. Along with the four captives (Mercedes-Benz Financial; Toyota Motor Credit […] [Read More]

DEARBORN, Mich. — Ford Customer Service Division is asking for the public's input on the design of a NASCAR Spring Cup Series race car in a campaign launched Tuesday to raise funds for the Juvenile Diabetes Research Foundation. Here's how the division's contest is designed to work.  Race fans will get to submit their vote for […] [Read More]

AUBURN HILLS, Mich. — Chrysler Group announced this week that it is now looking for dealers that can help the automaker reintroduce the Fiat brand in the U.S. However, only about 125 dealers in select markets throughout 41 states will make the cut. And to do so, they must meet some stringent requirements laid out by Chrysler. […] [Read More]

LAKE SUCCESS, N.Y. — DealerTrack recently expanded the company's offering for dealer customers, as it announced Tuesday that it has signed on to be a reseller of the AutoCount market reports from Experian Automotive. Basically, these reports are designed to give dealers a better grasp of their market on a number of fronts.  By utilizing these […] [Read More]

WESTCHESTER, Ill. — Insurance Auto Auctions is expanding again; this time in the Southeast. Executives this week brought their 43rd branch location in the region online as the salvage auction company opened a facility in Macon, Ga. IAA now has seven facilities in the state and more than 150 locations throughout North America. The Macon site […] [Read More]

BRUSSELS — The purchase of Volvo Cars by Zhejiang Geely Holding Co. came one step closer to fruition on Tuesday with the transaction getting the go-ahead from the European Union, according to various reports. The $1.8 billion deal for Geely to buy the Swedish brand from Ford apparently does not present any antitrust issues in the […] [Read More]

GAINESVILLE, Ga. — The staff at Black Book saw plenty of fireworks going into the July 4 holiday as editors adjusted almost 1,020 vehicles per day last week. Managing editor Ricky Beggs shared during his weekly look at the market that all of the activity brought an overall price change for those adjusted vehicles of about […] [Read More]

SCHAUMBURG, Ill. — Experian Automotive is offering a free online seminar next week that will delve into generational auto buying habits. The workshop — which begins at 2 p.m. (EST) on July 14 — will be led by Jeffrey Anderson, director of consulting and analytics for Experian Automotive. The Webinar aims to help attendees do the following: —Learn […] [Read More]

STUTTGART, Germany and ATLANTA — The Porsche AG board of management named a new chairman on Tuesday to succeed Michael Macht. Moving over from Volkswagen AG into this role is Matthias Mueller. Executives said Mueller was previously in charge of product planning, product management and model series for the VW Group and Volkswagen brand. They contend […] [Read More]

MISHAWAKA, Ind. — Commemorating its silver anniversary last week, the South Bend Mishawaka Auto Auction celebrated 25 years with a sale that offered significant savings on buying and selling fees while also generating strong results. The sale, which was held June 30, achieved a 64-percent sales rate on the 718 units that were consigned. As a […] [Read More]