TORONTO, Ontario — In another crackdown by Ontario authorities on curbsiding, Eric Stiles was given a one-year prison sentence and his company was fined $375,000. This decision came after he plead guilty to 30 counts of trading in a vehicle without the benefit of registration, the Ontario Motor Vehicle Industry Council announced. OMVIC explained that because Stiles' […] [Read More]

DEARBORN, Mich. — Ford Credit Canada Limited gained immediately available proceeds of $28 million (CAD) this week after completing a sale of subordinate notes, which were sponsored by Ford Credit Canada Limited, Ford Auto Securitization Trust (FAST). They are backed by a pool of retained conditional sale contracts from Ford Credit Canada, which bought these notes […] [Read More]

AUBURN HILLS, Mich. — Despite some reports that Chrysler was considering a lawsuit to stop the arbitration process, the automaker released a statement Thursday announcing that it will comply with the legislation. "The company looks forward to expeditious completion of the process. A robust dealer network is a critical component of the group's strategy of rebuilding […] [Read More]

FREDERICK, Md. — In response to the National Auto Auction Association's recommendation, many auctions throughout the country, including those with Manheim, ADESA, Auction Broadcasting Co. and ServNet, are halting sales of eight Toyota models. Over at Manheim, officials released a statement Thursday that said, "Manheim will fully comply with the NAAA's position and halt sales at our […] [Read More]

BANDON, Ore. — While Wednesday's news that Toyota was temporarily halting production and sales of eight models in U.S. and Canada dominated the headlines, something that began as a "small problem" has led to Toyota dropping in quality perception down to No. 7 among mass market brands, according to CNW Research's latest Purchase Path study. Toyota usually […] [Read More]

CARY, N.C. — Possibly signaling an industry turnaround, readers of AutoRemarketing.com were drawn to news this past week about CarMax gearing up to hire for about 600 store positions. CarMax indicated the majority of those spot would be in sales. Meanwhile, plenty of readers went to Auto Remarketing to learn about Toyota's decision to halt sales in […] [Read More]

DALLAS — Windsor Group announced Thursday that it has acquired Windsor Remarketing, meaning that the company can now offer remarketing management services in addition to its skip tracing and repossession management services. As part of the merger, Windsor Group brings in Scott France — who was the president of Windsor Remarketing — to serve as partner and chief operating […] [Read More]

DEARBORN, Mich. — In what was one of the most tumultuous and unprecedented years in automotive history that saw the bankruptcy of its domestic rivals, Ford recorded positive full-year net income for the first time in four years and closed 2009 on a high note with a strongly profitable fourth quarter.  What's more, Ford executives expect to see another […] [Read More]

PARK RIDGE, N.J. — Like a fellow rental company, Hertz has elected to stop offering eight models temporarily that Toyota has stopped sales on. Hertz executives added that they're working closely with the automaker to make necessary repairs as quickly as possible. However, they stressed that that several Toyota models in their rental fleet are not included […] [Read More]

FREDERICK, Md. — The National Auto Auction Association issued a recommendation this morning that all member auctions immediately halt the sales of recalled Toyota vehicles, covering those the automaker ceased selling. The models involved include: 2009-2010 RAV4, 2009-2010 Corolla, 2009-2010 Matrix, 2005-2010 Avalon, certain 2007-2010 Camry models, 2010 Highlander, 2007-2010 Tundra and 2008-2010 Sequoia. "This list may […] [Read More]