KANSAS CITY, Kan. — Using an assembly plant in the nation's heartland as a backdrop, General Motors chairman and chief executive officer Ed Whitacre Wednesday confirmed what had been widely reported. The automaker has made its final payment of $5.8 billion to the U.S. Treasury and Export Development Canada. Whitacre said the final financial installment means […] [Read More]

TORRANCE, Calif. — Toyota officials revealed that it's discovered the remedy to update the Vehicle Stability Control System software on about 9,400 model-year 2010 Lexus GX 460 SUVs voluntarily recalled earlier this week. The automaker indicated that it will begin implementing the remedy program at dealerships during the next two weeks. Furthermore, the OEM said its […] [Read More]

WESTCHESTER, Ill. — Insurance Auto Auctions recently opened a new location on Wednesday, raising its total to more than 150 locations throughout North America. The newest location is located in Anchorage, Alaska, marking the company's 14th branch location in its northwest region. IAA noted that the addition further strengthens its facility footprint and enhances its current long-term […] [Read More]

ALEXANDRIA, Va. — The American International Automobile Dealers Association on Wednesday named a new vice president for member services. Tapped for the role was Doug Miller, who has been charged with overseeing the growth and development of AIADA's member services department. AIADA reiterated that its members services program brokers partnerships with companies that offer its dealer […] [Read More]

GERMANTOWN, Md. — Officials representing the newest store within Fitzgerald Auto Malls boast that the new dealership is the only of its kind east of the Mississippi River that takes energy conservation to such a level. Founder Jack Fitzgerald celebrated Earth Day early on Wednesday with a ribbon cutting ceremony at his new Germantown, Md., dealership. This […] [Read More]

DALLAS — Liquid Motors recently announced the release of its Mobile Data Collection solution, which is designed to allow dealers to reduce the cost of collecting vehicle information and expedite the data collection process. "Giving dealers a tool that will speed the process of photographing vehicles on their lot and printing and affixing window stickers as […] [Read More]

DES MOINES, Iowa — Wells Fargo Preferred Capital recently expanded an established relationship by boosting a credit facility to TC Automotive Partners Funding. The amount of the facility totaled $35 million. TC Automotive Partners Funding is an affiliate of Tuttle-Click Automotive Group, a company headquartered in Tucson, Ariz. The organization provides auto financing solutions to consumers […] [Read More]

SANTA MONICA, Calif. — Edmunds.com recently discovered that new-vehicle contracts which included zero-percent financing reached a new industry high during March. Site analysts found that more than 22 percent of financed new vehicles were purchased with zero-percent finance deals this past month. Last March, they indicated the total was just 13 percent. Edmunds.com mentioned that the […] [Read More]

CINCINNATI — Automobile Consumer Services and DriveItNow Payment Marketing Service recently collaborated on "soft pull" credit analyzing technology. Executives explained how the process works when a consumer clicks the DriveItNow payment button that's displayed on vehicle search listings, dealer Web sites or eBay auctions. The process allows potential buyers to see payment options based on their […] [Read More]

FORT WORTH, Texas — Dan Berce, AmeriCredit chief executive officer and president, explained Wednesday that now is the optimal period of time to produce new-loan originations since the economic conditions have begun to stabilize and improve. And as such, the company originated $624 million in loans for its third-fiscal quarter, compared with $379 million for the period […] [Read More]