Ford will be transferring the majority of its shares in Mazda to various business partners of the Japanese automaker, thus lowering its ownership stake. However, the two OEMs will remain strategic partners, according to Mazda. Currently, Ford has 11 percent ownership stake in Mazda. Ford will hold on to a 3.5-percent stake in the automaker and is […] [Read More]

Dealer Services Corp. of Indiana said this week it has reached a significant floor planning milestone. The lender commemorated its 2 millionth financed vehicle, which was purchased by Tony and Ron Jarrah, who own Hanover Auto Sales. That dealership is located in Allentown, Pa. In commemoration of hitting the mark, DSC took care of the […] [Read More]

Just a day after raising the price range of the common stock in its initial public offering, General Motors on Wednesday increased the proposed size of its common stock as well. GM upped the common stock figure from 365 million shares to 478 million shares. Previously, the company announced the estimate price range for those […] [Read More]

About two weeks after rolling out its initial public offering, General Motors has upped the estimated price range of the common stock and also bolstered the size of its preferred stock in the offering. Specifically, the estimate price range for the 365 million shares of common stock that certain stockholders are selling is now $32 […] [Read More]

Guardian Warranty Corp. recently reached a working agreement with Assurant Solutions to provide dealers with four new vehicle protection products. The line of products is backed by American Bankers Insurance Co. of Florida, an Assurant Solutions company, and includes: —GWC backed by American Bankers Insurance Co. of Florida: rated “A” excellent by A.M. Best Co. […] [Read More]

AOL Autos recently shared three strategies aimed at making repossessed vehicles more appealing to consumers. The site emphasized that purchasing a repo unit can be a pathway to a more luxurious model from nameplates such as BMW, Jaguar and Cadillac. “Repos can be a good deal if you are smart and know what the market value […] [Read More]

Recent economic pressures have changed the landscape for how loan defaults will be managed.  Lenders and repossession agents now face an even greater threat of legal action from debtors.  In contrast to a year ago when repossession assignments were hitting record volumes, the recent economic upturn has had the opposite effect with repossession volumes dropping […] [Read More]

Coinciding with last week’s Veterans Day, Budget Rent A Car launched three online options to funnel donations toward a nonprofit organization that raises awareness and provides programs and services for injured U.S. military personnel. Budget has a goal of generating $100,000 for the Wounded Warrior Project. The first of those three donation options comes when […] [Read More]

Automotive Resources International has rolled a new flexible closed-end leasing program that it says it geared toward executive fleets, organizations in the process of stopping a vehicle-reimbursement program and companies that want to trim their chances of unexpected lease costs. [Read More]

The National Automobile Dealers Association described a recent decision by the Internal Revenue Service as a “major victory for car and truck dealers.” NADA shared Wednesday that the IRS has created uniform capitalization safe harbor methods of accounting. The association thinks these methods should favorably resolve several contentious and potentially costly income tax issues that […] [Read More]