Mazda Canada has struck a deal with LGM — which provides OEM-branded extended warranty credit insurance, wear protection and vehicle theft deterrent products — to allow its dealers to offer lease customers an added layer of protection and perhaps lead to a better-conditioned vehicle upon return to the dealership. The companies have rolled out Mazda […] [Read More]

The board of directors at Group 1 Automotive has given the green light for up to a $25 million repurchase of the retailer’s common stock. Group 1 plans to use cash from operations to pay for the repurchase. There were 23.6 million shares of outstanding common stock as of June 30. The company will hold […] [Read More]

While the message delivered recently by the Federal Trade Commission about vehicle warranty rejections is aimed toward consumers, it still highlights reminders for some dealers and automakers. [Read More]

As Hertz Global Holdings announced it extended the expiration date of its exchange offer for the company, Dollar Thrifty Automotive Group reported a slight uptick in second-quarter net income. DTAG officials computed that their second-quarter net income settled at $42.5 million or $1.36 per diluted share. In the year-ago period, the level was $42.3 million […] [Read More]

Beyond discussion about new bylaws and the organization’s second-ever industry scorecard, leaders of the American Recovery Association are most excited about the potential for one of the highest-attended annual conventions ever. ARA is assembling starting on Aug. 17 for a four-day event at the Westin Jersey City Newport Hotel in Jersey City, N.J. “I think […] [Read More]

While working with one of my clients covering a strategy on changing the price of a vehicle he had priced at $15,298, my first reaction was to tell him to reduce it down to $14,995 so he wouldn’t miss any searches done up to $15,000 because of $298. Then it dawned on me, don’t change […] [Read More]

Two Canadian auto lenders have struck a deal that is designed to help their mutual dealer customers in Ontario more easily facilitate subprime car loans. In talks between leaders of the two lenders — subprime lender Cars on Credit and floor-plan financer Clubb Finance Corp. — the companies both emphasized that dealers were most concerned […] [Read More]

Carfinco Income Fund has pushed its record streak to nine quarters, the company announced this week. Reporting $5.8 million in second-quarter pre-income tax earnings, Carfinco now has broken records in this metric each quarter beginning with the second quarter of 2009. In that period that kicked off the record streak, Carfinco generated pre-tax income of […] [Read More]

General Motors has pushed its streak of profitable quarters to six with the most recently completed period, and the company’s top boss stressed during a conference call Thursday the continued importance of three fundamentals to GM’s success. In wrapping up his opening remarks during the call, GM chairman and chief executive officer Dan Akerson boiled […] [Read More]

Mirroring impressive gains made by an industry competitor, Avis Budget Group highlighted jumps in revenue, adjusted EBITDA and more during the second quarter. Avis determined its revenue came in at $1.4 billion, an increase of 9 percent compared with the same period a year ago. This increase is primarily due to an 8-percent rise in […] [Read More]