DEARBORN, Mich. — Describing first-quarter results, Mike Bannister, chairman and chief executive officer of Ford Credit, said net income was bolstered in part by improvements in the used-vehicle auction markets. The company witnessed lower depreciation expense for leased vehicles thanks to higher auction values and a lower provision for credit losses, offset somewhat by lower volume. Specifically, the […] [Read More]

DETROIT — While perhaps not surprising, Toyota is highlighting the way with strong deals in financing this month, while General Motors and Chrysler are apparently not far behind, according to Gary Hoffman, a correspondent for AOL Autos. "In much of the country, for example, there are long-term contracts with zero-percent rates on Toyota's Avalon, Camry, Corolla […] [Read More]

MEDFORD, Ore. — Though Lithia Motors' net income fell by almost 5 percent in the first quarter, the company said it still saw improvement in adjusted earnings per share and enjoyed a significant lift in quarterly revenue, especially on the used side. Specifically, Lithia recorded first-quarter net income of $1.27 million, down from $1.33 million in […] [Read More]

TULSA, Okla. — Just days after Hertz Global Holdings signed an agreement to buy it, Dollar Thrifty Automotive Group reported on Wednesday that the company posted its most profitable first quarter in its history. Company executives revealed in an abbreviated conference call that Dollar Thrifty's net income for the first quarter was $27.3 million, or $0.91 […] [Read More]

CARMEL, Ind. — Dealer Services Corp. of Indiana this week named a new chief financial officer to replace Marty McFarland, who became the company president back on Jan. 1. Taking on the role with more than two decades of experience is David Horan. "After an in depth search, we landed on a solid fit as David […] [Read More]

WALTHAM, Mass. — DealerRater, a dealer review Web site, recently conducted a poll to learn the most important element to consumers among six common vehicle shopping factors. Choosing from hassle-free shopping, low price, prompt attention, location of dealer, service promise and dealer reputation, site officials indicated that the majority selection was hassle-free shopping. DealerRater revealed that […] [Read More]

BLOOMFIELD HILLS, Mich. — For the second time in just over a month, Penske Automotive Group has opened a new Mini store in the group's Western region, as it unveiled a 17,500-square-foot facility in Austin, Texas, on Tuesday. Mini of Austin's debut comes just five weeks after Penske opened Mini of Tempe to serve the Phoenix […] [Read More]

SANTA MONICA, Calif. — Ford, which said Tuesday it earned $2.1 billion in first-quarter net profit, is on pace to move ahead of Toyota and climb back into the No. 2 spot for yearly U.S. auto sales for the first time since 2006, according to Edmunds.com. Ford has finished third in full-year U.S. auto sales in […] [Read More]

HOUSTON — Thanks largely to improvements in its business structure as well as a healthier auto environment, Group 1 made what its president and chief executive officer called a "strong start" to the year. Adjusted net income for the first quarter came in at $10.4 million, up from $4.7 million in the year-ago period. The most […] [Read More]

LIVONIA, Mich. — It's not just drivers that need to be leery of rising "unconventional" vehicle theft-related crimes in Michigan. Dealers, too, have fallen prey to these thieves lately and should remain vigilant and educated about the rather creative methods culprits are using to snatch cars, according to Help Eliminate Auto Theft (H.E.A.T.), an organization that […] [Read More]