TORRANCE, Calif. — Honda joined the long list of automakers Tuesday that have pledged a significant donation toward earthquake relief efforts in Haiti. The manufacturer has earmarked a donation to the American Red Cross of more than $300,000. Furthermore, the company has given portable generators, water pumps and other Honda products for use during humanitarian relief […] [Read More]

IRVINE, Calif. — While the industry's lease penetration rates haven't been at their typical 20- to 22-percent levels and might not necessarily return to the "high-flying days," Kelley Blue Book's James Bell suggested that smart's announcement that it is entering the leasing market could be indicative of some good signs. Bell, executive market analyst for Kbb.com, […] [Read More]

CHICAGO — In an effort to pinpoint specific vehicles that best match typical consumer behaviors and tastes, Cars.com recently made choices for its 2010 Lifestyle Awards. The vehicle the site picked as its Family Car of the Year is the 2010 Ford Flex, while its Work Car of the Year was another vehicle from Ford, the 2010 […] [Read More]

FRANKLIN, Tenn. — Similar to other organizations in the auction industry, ServNet Auction Group applauded and unanimously supported the National Auto Auction Association's revamped arbitration policy at its annual business meeting last month and adopted it at its auctions effective Jan. 1.  "While all of the ServNet auctions agreed to adopt the Arbitration Policy in principal following […] [Read More]

SANTA MONICA, Calif. — During this time of year, when the auto market is in the midst of a traditionally slow season and automakers are less apt to offer incentives, dealers are often more inclined to include discounts to help spur sales, according to TrueCar. In light of this environment, TrueCar, as part of its monthly TrueTrends […] [Read More]

DEARBORN, Mich. — Late last week, the Automotive Hall of Fame honored five industry executives with 2010 Distinguished Service Citations and announced its 2009 Industry Leader of the Year. Among all the recipients, chief executive officers at two automakers were honored, as Hyundai Motor America president and CEO John Krafcik earned a Distinguished Service Citation and […] [Read More]

BURLINGTON, Vt. — Last year was enormously successful for Dealer.com, according to company officials. In fact, the company posted the highest growth rate in its 12-year history, they said. To be specific, company executives calculated that Dealer.com's five-year revenue growth rate spiked to a whopping 675 percent in 2009. Besides the financial standing, Dealer.com also touted its […] [Read More]

COLUMBUS, Ohio — A total of five Ohio credit unions have decided to integrate an online vehicle shopping solution from Aimbridge Indirect Lending of Ohio into their list of available services. Among the organizations that opted to make WhereMembersBuy.com accessible to members are Directions Credit Union, Cintel Credit Union, CME Credit Union, Champion Credit Union and […] [Read More]

CHARLOTTE, N.C. — Sonic Automotive announced Tuesday that it entered into new syndicated credit facilities with several financial institutions that mature in August 2012. Furthermore, company executives noted that new floor plan arrangements with several manufacturer-affiliated finance companies for both new and used vehicles have been added as well. They pointed out these new lending arrangements […] [Read More]

CLEARWATER, Fla. — Nicholas Financial recently announced that the company has reached a new agreement with its consortium of lenders to increase the size of its credit line from $115 million to $140 million. The new contract extends the maturity date to Nov. 30, 2011, and adds Wells Fargo Preferred Capital as a new participant in […] [Read More]