Carfinco Income Fund gained a major contract earlier this week, as it agreed to service a U.S. equity fund-owned auto loan portfolio that is worth more than $150 million. And with the addition of the third-party portfolio, Carfinco plans to launch a Quebec service center. The portfolio includes both prime and non-prime Canadian consumers and is seeing […] [Read More]

Developing more vehicle technologies and enhancing corporate synergy were among the topics discussed this week by Toyota Motor Corp., president Akio Toyoda and the automaker’s other top executives who gathered for the annual national dealer meeting. The private meeting was attended by representatives from Toyota’s 1,233 U.S. dealers, as well as Toyota Motor North America […] [Read More]

As its peers prepare to rev their facilities back up to 100-percent capacity, Mazda Motor Corp. also plans to return to normal production at its Japanese assembly plants in June. Fiscal 2012 production output in Japan for the automaker is expected to reach 900,000 units. Not only that, the automaker has said it will be profitable across the […] [Read More]

Larry H. Miller Group announced Thursday that its founder’s first dealership has a new home. The Toyota dealership that was the first to be bought by Larry Miller back in 1979 will be open to the public again this Wednesday at 11 a.m. at its new location, 5650 South State St. in Murray, Utah, announced […] [Read More]

Saab’s parent company Swedish Automobile announced Wednesday that it has paid its employees’ wages for June, secured a 25 million euro loan and expects to resume full production within two weeks. The convertible bridge loan agreement providing the automaker with more short-term funding was made with Bahamas-based Gemini Investment Fund Limited. The loan agreement, with […] [Read More]

Structured as a way to enhance a certified pre-owned, used or new vehicle purchase, Mazda North American Operations this week launched what it’s calling Mazda Total Advantage. OEM officials explained MTA is a new prepaid scheduled maintenance program, which is the first of its kind offered by Mazda. Mazda indicated MTA is available in increments […] [Read More]

Toyota Motor Sales revealed Wednesday that a pair of its hybrid crossover models are part of a voluntary safety recall in the U.S. The recall of approximately 45,500 Highlander Hybrid and 36,700 Lexus RX 400h vehicles from the 2006 and 2007 model years is connected with the Intelligent Power Module. The company explained the IPM […] [Read More]

After having to send its employees home last week without pay, Saab’s future is looking a little rosier as the automaker negotiates potential funding to satisfy creditors and re-start production at its idled Trolhatten plant. On the heels of announcing Monday that an unnamed Chinese company put in an order to purchase 582 Saab Vehicles […] [Read More]

Just a few years ago, dealership doors in the U.S. were slamming shut as auto sales floundered and two of the Big 3 automakers went through bankruptcy. But in a stark difference to what happened in the overall American auto industry in recent times, Nissan said Monday it  is aiming to increase its global dealership […] [Read More]

J.D. Power and Associates insisted new-vehicle retail sales have rebounded during the first half of June as consumers — despite mixed economic signals — returned to dealerships. Analysts pegged June new-vehicle retail sales to come in at 884,800 units, which represents a seasonally adjusted annualized rate (SAAR) of 9.9 million units. They pointed out the […] [Read More]