WASHINGTON, D.C. — As the national economy regains its footing, the American Financial Services Association is gearing its annual conference to give dealers and financial companies specific growth strategies for the rebound. National dealership leaders and top financial company executives are expected to attend the 14th Annual Vehicle Finance Conference and Exposition at Walt Disney's Yacht […] [Read More]

BANDON, Ore. — After eight years of steady increases, CNW Research recently reported that combined new and used repossessions eased a bit during the first half of December. While slight, 5.36 percent to 5.26 percent, Art Spinella, of CNW, said this is a good sign. "That may not seem a significant decline, but after eight years […] [Read More]

ATLANTA — Several used and certified pre-owned models saw declines in shopping activity on AutoTrader.com during December, but it wasn't for lack of consumer interest. Instead, site officials attributed this drop-off in used and CPO activity to to lower inventories of these units. Analysts noted that this trend was especially evident in the asking prices for trucks and […] [Read More]

SANTA MONICA, Calif. — Edmunds.com analysts found the percentage of new-vehicle sales in December that came from old model-year units was down significantly from the same period of 2008, and this greatly influenced incentives.  As a result, they discovered that the average incentive was $2,542 per vehicle sold in December 2009. That incentive was 6.7 percent lower or $167 less […] [Read More]

NEW YORK — The nominees for the the Time Magazine Dealer of the Year Award were recently unveiled, and a total of 45 dealers are in the running for the honor that's been given for the past 40 years by the magazine in partnership with Goodyear. The honor will be given during the opening session of the […] [Read More]

IRVINE, Calif. — When IntelliChoice.com revealed its "Best Deals of the Month" for the first time in 2010, a domestic automaker had one of its best showings ever. The site shared its rankings for January and highlighted that models from General Motors topped many segments because of extensive rebates and incentives. Officials reiterated that GM often does well […] [Read More]

SAN ANTONIO — USAA recently announced that it has enhanced its online car-buying service program by adding new-car pricing reports from TrueCar.com. Basically, this will provide shoppers with actual transaction prices for specific vehicles in their area, when that data is available. "At USAA, we're committed to demystifying the car-buying process to make it easier […] [Read More]

CARMEL, Ind. — On Tuesday morning, KAR Auction Services unveiled the final results of its tender offer for its 10 percent Senior Subordinated Notes due 2015, its 8.75 percent Senior Notes due and its Floating Rate Senior Notes due 2014. This tender offer for a portion of the company's debt expired at 11:59 p.m. EST on […] [Read More]

YONKERS, N.Y. — Consumer Reports recently tested five redesigned luxury sedans from Cadillac, Acura, Audi, Mercedes-Benz and Lincoln, and just one posted an overall score considered to be "excellent." Field testers put each vehicle through a battery of examinations at its center in East Haddam, Conn., and the Cadillac CTS received the excellent status by getting a […] [Read More]

BLOOMFIELD HILLS, Mich. — Penske Automotive Group announced this week that the management of smart USA has changed. Taking on the role of president of the Penske subsidiary is Jill Lajdziak, who had joined the company in December as vice president of sales and marketing for smart USA. Smart USA had been managed by Dave Schembri, who […] [Read More]