WASHINGTON, D.C. — The National Automobile Dealers Association, along with other commercial lending executives representing four major banks, met with the Small Business Administration recently to discuss ways to make the SBA's dealer floor plan pilot program more effective. The association urged the SBA to make the pilot program permanent and to simplify it so it's […] [Read More]

DETROIT — Many lenders are apparently returning to some of the some practices that played a role in their financial instability, such as zero-percent financing, low down payments and more, according to Sudarshan Mhatre, senior analyst with PricewaterhouseCoopers' Autofacts. He also said that consumers are tending to take on more debt for longer periods of time, […] [Read More]

ARLINGTON, Texas — In the wake of Toyota's recalls, more than half of consumers have apparently  found the automaker to be "less appealing," while domestics are enjoying some good news, especially for Ford, according to the New Vehicle Brand Barometer Study from Decision Analyst. More specifically, 53 percent of study participants said Toyota is now less attractive after its […] [Read More]

SANTA MONICA, Calif. — The "aggressive" incentives that Toyota rolled out this month seem to be paying off, according to TrueCar. In fact, the company discovered that the automaker's month-over-month growth in market share is the largest among major brands as of mid-March. More specifically, after posting market share of only 11.2 percent in February in the […] [Read More]

DETROIT — Late Tuesday, Saab Cars North America selected the place that will serve as its new headquarters. Where will the newly independent automaker set up shop? The new headquarters will be in Royal Oak, Mich., which means Saab is keeping about 2,000 jobs in North America. The automaker plans to invest $2.4 million to enhance its U.S. sales and marketing operations […] [Read More]

PALO ALTO, Calif. — High Gear Media recently finished the complete design of an automotive Web site operated by a CBS-owned television station in Minneapolis. The site for WCCO-TV incorporates all of the content produced by High Gear Media, which includes vehicle shopping tools and pricing information, as well as reviews and features from its network […] [Read More]

DEARBORN, Mich. — After the success of the first initiative that generated a great deal of exposure and buzz for the new model, Ford has rolled out a second wave of its Fiesta Movement. During Fiesta Movement Chapter 2, there will be 20 teams of two agents that will embark on "missions" within their own communities. […] [Read More]

AUBURN HILLS, Mich. — Chrysler Group announced this week that it will stop adding dealers in markets where there are arbitrating dealers as a "good faith" measure until the arbitrator makes a ruling.  In a statement Chrysler said, "While Chrysler Group has acted within its legal rights to grant sales points to qualified dealers — rights that […] [Read More]

TORRANCE, Calif. — In an effort to support dealers and drive sales, Toyota Financial Services said Tuesday that franchised dealers can now get a $450 credit on each recalled model purchased via various Toyota remarketing Web sites and Toyota-sponsored auctions. The TFS credit can be applied to certify these vehicles, which can ultimately mean lower transaction prices for consumers. […] [Read More]

CARMEL, Ind. — Average wholesale prices in February reached their highest level in eight months and passed the $10,000 mark for the first time since July, according to the latest report from ADESA's Tom Kontos.  Specifically, the average wholesale price during the month was $10,138. This represents an 8.3-percent year-over-year gain, and a 3-percent upswing compared to […] [Read More]