WASHINGTON, D.C. — As GMAC's chief executive officer and chief financial officer get ready to testify before a Congressional Oversight Panel today, the executives said in prepared remarks that if GMAC had not received access to government funds that many GM and Chrysler dealers would not have survived due to lack of wholesale lines and retail […] [Read More]

FREDERICK, Md. — Dan Kennedy, national sales manager for General Motors Remarketing offered an update to the National Auto Auction Association today on the status of 2009 and 2010 Pontiac Vibes impacted by the Toyota recall. The models covered by the recall have been under a "no sale" hold until they are repaired. And according to […] [Read More]

WASHINGTON, D.C. — In remarks prepared for his appearance before the House Oversight Committee, Akio Toyoda, president of Toyota Motor Corp., said he fears the automaker has grown too quickly and that this has impacted quality. "Toyota has, for the past few years, been expanding its business rapidly. Quite frankly, I fear the pace at which […] [Read More]

COSTA MESA, Calif. — NADAguides.com released its Best Car Buys for 2010 earlier this week, recognizing models across eight vehicle categories that meet the specific criteria that shoppers consider to be the most important. In their annual in-depth study, the site's Market/Data Analysts sought to find the vehicle attributes on which consumers place the most emphasis when shopping […] [Read More]

PORTLAND, Ore. — Chrome Systems announced on Wednesday that it is now providing an enhanced vehicle comparison tool for the BMW USA Web site. Executives from the DealerTrack subsidiary explained that BMW's Web site now can enable visitors to highlight the features, specifications and advantages of the manufacturer's vehicles in side-by-side comparisons. The enhancements also can […] [Read More]

ATLANTA — Officials from AutoTrader.com recently learned that Feb. 15 marked a new all-time record day for site traffic. They indicated that 986,052 unique visitors reviewed dealer listings and other information that day. Site executives attributed the record traffic count to three reasons — a resurging market, a jump in new-vehicle shopping activity and strong marketing. AutoTrader.com […] [Read More]

BANDON, Ore. — When explaining the softness in the used-vehicle market thus far in February, CNW Research pointed to the issues surrounding Toyota, suggesting that used sales and transaction prices seemed to "slip on Toyota's banana peel." Specifically, used-vehicle sales for February are expected to drop 1.8 percent from last year and used prices have dipped 1.3 compared to January. […] [Read More]

DETROIT — In an effort to give more dealers the opportunity to try SmartAuction without the hassle of a lengthy credit check, the company has unveiled Quick Start. Via the new offering, both franchised and independent dealers can gain a limited credit line to bid on and buy vehicles through the online auction platform. For independent […] [Read More]

YONKERS, N.Y. — Consumer Reports discussed its latest Automaker Report Cards on Tuesday, recognizing the manufacturers that make what it considers to be the best all-around vehicles. Sharing this year's top honor are Honda and Subaru. This marked the fourth straight year Honda has claimed the No. 1 spot, as it scored a 77 out of […] [Read More]

STAMFORD, Conn. — January wholesale prices climbed double digits from the rather soft year-ago levels and "inched up" from the prior month, according to the latest analysis from RVI Group. The company indicated that the modest month-over-month incline was due mostly to gains in the full-size pickup, SUV and van segments. Specifically, the RVI Used Car Price […] [Read More]