DEARBORN, Mich. — Ford Credit Canada announced that one of its subsidiaries has moved its vehicle leasing business over to an Ontario limited partnership. Basically, in late February, Canadian Road Holdings transferred its entire leasing business to Canadian Road Leasing Co. Canadian Road Holdings has a 99 percent limited partnership in the leasing partnership. Then, Canadian […] [Read More]

RED DEER, Alberta — Though loan originations and net income were down year-over-year in its most recent quarter, RIFCO saw a drop in delinquency rates for the first time in five quarters and said the company is still on pace to show full-year profitability for the fourth straight time. Specifically, net income for the third quarter ending […] [Read More]

FORT WORTH, Texas — On Thursday, AmeriCredit Corp. identified its top auction partner as a part of its nationwide Auction of Excellence program. Taking home the top award this year is Rawls Auto Auction in Leesville, S.C. To decide the award, AmeriCredit representatives review the performance of participating auctions in a variety of categories, including customer service, […] [Read More]

FRANKLIN, Tenn. — Two ServNet auctions have been singled out as leaders for national consignors in recent awards programs. At a recent award presentation, Carolina Auto Auction was named the country's top performer for CitiFinancial Auto, taking home its 2009 Auction of the Year Award. Meanwhile, Brasher's Northwest Auto Auction in Eugene, Ore., was named Auction […] [Read More]

MOUNT LAUREL, N.J. — During the summer of last year, Bob Graham, ARI's director of vehicle remarketing, was inducted as president of the International Automotive Remarketers Alliance. During his two-year term, Graham plans to help grow membership, ensure the association's financial stability and raise the bar for IARA's meetings and roundtables by promoting professional and […] [Read More]

WESTLAKE VILLAGE, Calif. — The auto industry has likely seen the worst of its drought, and though certain issues and challenges must be addressed, new-vehicle sales are headed toward the 11.7 million unit mark for 2010, according to J.D. Power and Associates.  And four years from now, they could be back to the 16 million mark. While […] [Read More]

SANTA MONICA, Calif. — Edmunds.com believes Toyota's announcements of zero-percent financing and special lease deals are being very well received because of a sharp rise in purchase intent by site visitors. Officials indicated that the incentive offerings generated nearly a 40-percent spike in purchase interest when measured over a 48-hour period. Comparing recent history, the increase […] [Read More]

CARY, N.C. — Major announcements, management changes and comments from some of the industry's top executives dominated the news this past week at AutoRemarketing.com. Leading the way was a recap of enhanced dealer consignment initiatives highlighted by KAR Auction Services' chief executive officer. Readers also learned about another major management overhaul at General Motors. The top […] [Read More]

ALPHARETTA, Ga. — LeasePlan USA honored its top performing auction partners of 2009 on Thursday at the Conference of Automotive Remarketers Consignor Recognition Awards ceremony. Earning the Top Sales Achievement Award — which recognizes the auction with exceptional performance in gross sale retention of LeasePlan vehicles — was ABC Birmingham. Receiving Stellar Awards — which spotlight auctions that have […] [Read More]

AUBURN HILLS, Mich. — Chrysler unveiled two executive appointments on Thursday, announcing that Steve Williams will now serve as head of advanced engineering, planning and regulatory affairs, while Stephen Bartoli — who previously was head of regulatory affairs and engineering planning — becomes the head of international product planning, business development and integration. Williams was most recently the […] [Read More]