NEW YORK — Positively impacted by gains in net financing revenue, GMAC reported Thursday that, based on preliminary results, its global automotive services business posted pre-tax income from continuing operations of $309 million during the fourth quarter, a significant upswing from the pre-tax loss of $346 million a year ago. GMAC noted in its earnings release that it now […] [Read More]

HOUSTON — Franchise dealers enter 2010 with many of the same challenges they have faced for the last 24 months: 1) excess facilities, 2) slumping vehicle sales, 3) decreasing average credit scores of their customers, 4) tougher credit approvals from financing sources, and 5) excess inventory challenges. In response, many are looking at entering buy-here, […] [Read More]

IRVINE, Calif. — In the aftermath of its recalls, Toyota has lost more than a fifth of the shoppers who had been thinking about buying one of the brands, according to Kelley Blue Book's Kbb.com. The company also indicated that consideration for the brand has been pushed down to No. 3 behind Ford and Chevrolet, respectively. Specifically, […] [Read More]

SANTA MONICA, Calif. — Though Toyota certainly saw a drain in purchase intent during the midst of the "recall frenzy," interest in the brand has begun to rapidly recover in the days following the automaker's announcement of a fix, according to Edmunds.com. Contrary to some other reports, Edmunds.com sees Toyota bouncing back even more quickly. "Toyota purchase […] [Read More]

GAINESVILLE, Fla. — Santa Fe Ford, a dealership that's operated in this northern Florida city for 22 years, just posted its best January used-vehicle sales total. Dealership executives described January as traditionally soft month; however, they went on to note that the sales team was able to move more than 80 used units this year. Santa Fe Ford attributed […] [Read More]

OAKBROOK, Ill. — At the upcoming National Automobile Dealers Association Conference and Expo, Dale Pollak, chairman and founder of vAuto and author of Velocity 2.0: Paint, Pixels and Profitability, will be presenting the "Used Car Dominance/Lower Costs in the New SAAR Era" seminar.   Officials said Pollak's seminar will offer "breakthrough paradigms" for the variable department. […] [Read More]

CHICAGO — Cars.com is looking for the success of an ad campaign attached to last year's Super Bowl to continue when the Web site rolls out its latest strategy during this Sunday's game. The newest spot connected with Cars.com's "Confidence" campaign will be shown during Super Bowl XLIV on Sunday. Executives explained that the 60-second spot, […] [Read More]

DETROIT — After it came to light that General Motors' Pontiac Vibe was also impacted by Toyota's recall and included in the National Auto Auction Association's recommendation to cease selling at auction, the automaker performed some tests and has now declared this model as safe. The 2009-10 Vibe is a sister vehicle of the Toyota Matrix. Toyota […] [Read More]

GAINESVILLE, Ga. — With rental companies pulling both Toyota vehicles in service as well as those ready for remarketing until fixes can be made, Ricky Beggs, of Black Book, said auction volumes are even more limited. "I must say the last week has been extremely busy for the editorial team at Black Book. The unprecedented recall […] [Read More]

McLEAN, Va. — NADA Used Car Guide announced Tuesday that it has enhanced its electronic product line by adding auction values. Basically, these values will be updated each week so that customers have a clear picture of pricing activity for the disposal or purchase of a vehicle in the auction marketplace. "Thanks to AuctionNet, NADA's partnership […] [Read More]