Retail
CarMax Promotes Treasurer to CFO
Monday, Oct. 25, 2010, 07:59 AM
Auto Remarketing Staff
Late last week, CarMax elevated one of its veteran executives to senior vice president and chief financial officer. Moving up into the role is Tom Reedy. Management explained Reedy will be responsible for CarMax’s finance organization, including accounting, treasury, financial planning and analysis, tax and risk management. The company plans to begin recruiting for the […] [Read More]
Kia Broadens NBA Marketing Campaigns to Include Vast TV Coverage, Player Awards
Monday, Oct. 25, 2010, 07:56 AM
Auto Remarketing Staff
Potential buyers who also watch plenty of pro basketball on television likely will be seeing plenty of content that highlights the Kia brand. Kia Motors America and the National Basketball Association recently announced an extension and expansion of their marketing partnership through a new multiyear agreement. Returning as the Official Automotive Partner of the NBA, […] [Read More]
Former BMW Exec Becomes Jaguar Land Rover’s New Canadian President
Friday, Oct. 22, 2010, 03:05 PM
Auto Remarketing Staff
Jaguar Land Rover Canada will officially have a new president Monday. Hired to serve in the position is Lindsay Duffield, whose most recent post was as BMW Group Canada’s president and chief executive officer. Duffield’s tenure in that position was five years. His background also includes financial services leadership. He worked for BMW Group Financial […] [Read More]
Fiat Moves Chrysler Into Four More European Markets, Looks to Increase Chrysler Stake
Friday, Oct. 22, 2010, 06:00 AM
Auto Remarketing Staff
Fiat stretched the reach of Chrysler Group’s sales and service into four key European markets during the third quarter, and the Italian company’s automobile businesses — comprising Fiat Group Automobiles, Maserati and Ferrari — posted a 2 million euro year-over-year gain in trading profits, Fiat Group announced Thursday. [Read More]
Toyota Issues Another Recall and Experts Respond by Tallying Impact on Residuals, Used Values
Friday, Oct. 22, 2010, 05:59 AM
Auto Remarketing Editor Joe Overby
On Thursday, Toyota announced another voluntary recall on certain Toyota and Lexus models that covers many parts of the world, including the U.S. Will this mean a hit to the automaker’s U.S. residuals and used-vehicle values? Both Kelley Blue Book and Edmunds.com analysts say it’s unlikely. However, these experts say that the higher incentives and enticing deals Toyota has been offering […] [Read More]
J.D. Power: October Could Finish with Year-High SAAR
Friday, Oct. 22, 2010, 05:58 AM
Auto Remarketing Staff
While also sharing what social media trends are impacting brands most, J.D. Power and Associates believes October’s seasonally adjusted annualized rate for new-vehicle retail sales should surpass 10 million for the first time this year. Sparking what J.D. Power thinks is a sign of a more pronounced recovery trend is an October new-vehicle retail sales […] [Read More]
Two Ford Executives to Retire in Early 2011, More
Friday, Oct. 22, 2010, 05:57 AM
Auto Remarketing Staff
Ford said Thursday that two of its officers are retiring early next year, and the automaker also revealed several shifts in its global management team. Retiring on Feb. 1 is the company’s chief technical officer and vice president of research and advanced engineering, Gerhard Schmidt. [Read More]
AOL Autos Chooses Best October Lease Deals
Friday, Oct. 22, 2010, 05:56 AM
Auto Remarketing Staff
AOL Autos recently picked 20 vehicles for what the site declared as the best October lease deals. Contained within five vehicles segments — compact cars, family cars, compact crossovers, luxury SUVs and luxury cars — the list included three units from Nissan, the most of any single nameplate. Those three Nissan vehicles were the Sentra, […] [Read More]
Porsche Finds Oldest Model Sold in America
Friday, Oct. 22, 2010, 05:54 AM
Auto Remarketing Staff
Porsche Cars North America wanted part of its 60th anniversary celebration to include the discovery of the oldest model sold in America. Company officials revealed Thursday that vehicle turned out to be a restored 1952 Strawberry Red 356 Cabriolet. The automaker learned the whereabouts of this unit through an initiative launched in late August, the […] [Read More]
Beige Book: Dealers’ Used Sales Healthy
Thursday, Oct. 21, 2010, 05:59 AM
Auto Remarketing Editor Joe Overby
In examining the overall health of dealerships across the country, the Federal Reserve observed in its latest Beige Book report a rather robust auto market, both on the used- and new-vehicle fronts. Used-sales have been healthy, while the new-vehicle market in the majority of areas was either stable or showed improvement, the Fed noted. [Read More]