DETROIT — Providing an update regarding its wholesale financing of Chrysler dealers, GMAC Financial Services said late last week that it has finished the formal underwriting for those who requested standard wholesale credit lines. Of the 1,474 U.S. Chrysler dealers that applied for this funding, the lender approved 94 percent. Breaking these numbers down a bit, […] [Read More]

DETROIT — General Motors officials have been busy this past week announcing more details about the binding arbitration program for terminated dealers, releasing a bit more news about a potential Saab wind-down and deciding to sale one of its divisions. When it comes to the special binding arbitration program for terminated dealers seeking reinstatement, officials indicated […] [Read More]

CARMEL, Ind. — ADESA and Toyota Financial Services finished 2009 on a strong note, as the companies held two record-breaking weekend sales events on DealerBlock to conclude the year, they announced late last week. As most know, ADESA DealerBlock hosts a weekend sale every Friday through Monday. This gives dealers an additional way to find inventory, […] [Read More]

WASHINGTON, D.C. — Dealers who want to use Facebook as a way to push their inventory listings and more on the ever-growing Web site now have that opportunity thanks to an industry-first solution developed by GOSO, a Web and social media marketing suite. GOSO coordinated with a Minnesota dealership on an early version of this new application […] [Read More]

DETROIT — Senior global auto industry executives appear to be cautiously optimistic about the next five years, as many expect auto market stability, investment and growth, but are still concerned with a number of issues impacting the industry, according to KMPG, which recently released its 11th annual global automotive survey. The study, which gathered insight from […] [Read More]

LAS VEGAS — Edmunds.com used the annual Consumer Electronics Show as the platform to hand out a new award to a domestic automaker that's been raking in many honors as of late. The Web Site gave its first Car Technology Breakthrough Award to the 2010 Ford Taurus. Officials presented the honor to the nameplate's chief executive […] [Read More]

MISSISSAUGA, Ontario — Manheim Canada issued a nationwide stamp of approval for the Ontario Motor Vehicle Dealers Act this week, saying that it will support its auctions throughout the country complying with the regulations regardless of whether they are in the province or not. As such, Manheim Canada has amended its National Arbitration policy so that […] [Read More]

TORONTO, Ontario — RouteOne Canada recently announced that Mazda Canada has elected to use the RouteOne platform as the exclusive source for its dealers to access the automaker's retail financing programs. "Our partnership with RouteOne Canada strengthens our ability to manage our financing programs to deliver competitive incentives to our dealers and customers," shared Mike Collinson, […] [Read More]

TORONTO, Ontario — The Ontario Motor Vehicle Industry Council sent out a warning late last month notifying consumers of a dealership in the province that had its registration revoked for alleged deceptive practices. OMVIC said that it took away the registration of Prestige Toys Ltd., as of Dec. 14 for apparently misleading customers about the histories […] [Read More]

McLEAN, Va. — Wholesale values were pushed up every month last year, thanks largely to the fact that the number of used vehicles being pumped into the U.S. market in the last two years has shown a decrease in the neighborhood of 8 million units, according to AuctionNet data. Despite this plunge in used inventory, the […] [Read More]