What chief executive officer Sergio Marchionne predicted would happen “in a matter of days” came to fruition Tuesday as Chrysler Group announced Fiat’s ownership interest in the company has increased from 25 percent to 30 percent. Chrysler indicated the increase is the result of the company’s achievement of the second of three performance-related milestones outlined […] [Read More]

General Motors announced Tuesday it will invest $100 million to add 30 jobs and purchase tooling and equipment to make future automotive components at its GM Components Holdings Rochester Operations. "This investment in our manufacturing operations will enable us to produce a new generation of fuel-efficient small-block car and truck engines," said Cathy Clegg, GM […] [Read More]

Over the past decade, there has been a significant shift toward migrating the wholesale vehicle remarketing process online. There are many reasons for this growth. The online channel offers numerous benefits for the remarketing process, such as reduced expense and time to sale, less need to transport vehicles, travel cost savings to and from the […] [Read More]

Leaders of Allied Finance Adjusters are quick to point out that the last couple of years probably have created more change in the repossession industry than any of the previous 75 years. With a mindset of bonding as a group, president George Badeen explained how this week’s convention is creating more enthusiasm and excitement. “We’re […] [Read More]

In what may help stimulate additional sales at its stores, Chrysler rolled out a new co-branded auto credit card program this week that rewards consumers for making purchases at the automaker’s dealerships as well as for assorted everyday and travel purchases. Chrysler teamed with MasterCard and First National Bank of Omaha to debut the Chrysler […] [Read More]

The National Independent Automobile Dealers Association and the Edward E. Hall and Co. property and casualty insurance brokerage have teamed up for a new insurance program for NIADA members that officials say will offer the comprehensive coverage dealerships need. According to officials, the areas in which the NIADA Independent Auto Dealer Insurance Program will provide […] [Read More]

TrueCar said Tuesday that it will gain a “significant” equity investment from direct marketing company Guthy-Renker, and officials said the broad partnership can help TrueCar expand its visibility beyond the Web via TV, print and radio advertising channels as well as other mediums. Dealers coming aboard the TrueCar certified network will be able to tap […] [Read More]

Representing the first bonus payout in three years, Ford is ready to reward president and chief executive officer Alan Mulally and other top executives handsomely for the turnaround the automaker has enjoyed. According to the automaker’s proxy statement filed with the U.S. Securities and Exchange Commission, Ford is about to give Mulally a total package […] [Read More]

With ACA International questioning how officials arrived at these figures, the Federal Trade Commission recently submitted its Congressional report summarizing activities to administer the Fair Debt Collection Practices Act. The FTC discovered the total number of consumer complaints associated with debt collection rose from 119,609 in 2009 to 140,036 last year. As a percentage of […] [Read More]

Recovery agents are not the only ones suffering from high fuel prices. Auctions, transportation providers and their clients are focused on ways to reduce transportation time and cost. Determining the exact location of a repossessed vehicle and when it will be ready for pick-up is a major opportunity for efficiency gains, and all parties will […] [Read More]