WASHINGTON, D.C. — Having voiced its concerns to the U.S. Treasury Secretary about the recently proposed consumer protection agency that would further regulate auto dealers' financing endeavors, the National Automobile Dealers Association is calling on dealers to take action. As most likely know, Treasury Secretary Tim Geithner, along with the Department of Defense and consumer advocacy […] [Read More]

FORT LAUDERDALE, Fla. — AutoNation said Wednesday morning that it expects to see an increase in earnings per share and revenue for the first quarter 2010, and also announced that it plans to amend and extend its credit agreement. Moreover, the company unveiled a senior notes offering and announced a debt tender offer. As far as […] [Read More]

DETROIT — General Motors has made some shifts in its financial leadership, announcing this week that it has tapped current vice president and treasurer Walter Borst to serve as a vice president and Promark Global Advisors' chief executive officer. He will be taking over for Nancy Everett, who is leaving the company on June 1. Everett — the current […] [Read More]

DEARBORN, Mich. — Ford has officially found a buyer for Volvo. The company signed a definitive agreement with Zhejiang Geely Holding Group Co. Limited on Sunday. Basically, the Chinese manufacturer will purchase 100 percent of Volvo Car Corp. and related assets for $1.8 billion.   The payment will consist of a $200 million note and cash. The sale is expected […] [Read More]

TOKYO — Thanks to a hybrid system technology licensing agreement it entered with Toyota, Mazda plans to develop and build a hybrid vehicle that will likely go on sale in Japan by 2013. Essentially, Mazda will take the hybrid technology supplied by Toyota — which is what is used in the Toyota Prius — and blend it with its Sky engine (which […] [Read More]

AUBURN HILLS, Mich. — Apparently, Chrysler Group has already sent 36 letters of intent or sales and service agreements for reinstatement to dealers whose contracts were rejected under the bankruptcy proceedings last year. And now, the automaker is looking to reinstate 50 additional dealers and is in the process of sending out another round of letters […] [Read More]

TORRANCE, Calif. — Late Friday, Toyota Motor Sales U.S.A. announced that, working in cooperation with Attorneys General across the country, the automaker will be extending on a nationwide basis the additional services being provided to Toyota and Lexus customers in New York affected by the company's recent recalls. [Read More]

YONKERS, N.Y. — A follow-up to the Consumer Reports 2010 Car Brand Perception Survey revealed that Toyota loyalty is slipping in light of ongoing recalls and deteriorating public perception of the automaker. Officials indicated that among consumers who drive a Toyota regularly, 60 percent said they would most likely purchase a Toyota the next time they […] [Read More]

DEARBORN, Mich. — In some positive news for the automaker to start the year, Ford said it is seeing blossoming interest for its new Mustang, as the number of orders for the 2011 model of the sports car is three times higher than the amount of requests for 2010 Mustang a year ago. Specifically, the automaker said that […] [Read More]

PIKESVILLE, Md. — MileOne Automotive recently learned that two of its Baltimore-area Chrysler dealers received the highest award available from the automaker for customer service. Earning 2009 Five Star Certification from Chrysler were Heritage Chrysler Dodge Jeep Parkville and Heritage Chrysler Dodge Jeep Owings Mills. Company executives highlighted the benchmarks a dealership must attain to earn […] [Read More]