TORRANCE, Calif. — In an effort to support dealers and drive sales, Toyota Financial Services said Tuesday that franchised dealers can now get a $450 credit on each recalled model purchased via various Toyota remarketing Web sites and Toyota-sponsored auctions. The TFS credit can be applied to certify these vehicles, which can ultimately mean lower transaction prices for consumers. […] [Read More]

TORRANCE, Calif. — Honda on Tuesday issued a recall of more than 400,000 Odysseys and Elements after receiving complaints that the brake pedals feel "soft" or are not working as well as expected over time. The units covered by the recall include approximately 344,000 Odyssey and 68,000 Element vehicles from the 2007-2008 model years. The automaker said it intends to […] [Read More]

SANTA BARBARA, Calif. — Toyota's boosted incentive spending is not expected to affect the automaker's residual values in the long run. However, if these heightened incentives remain for more than three to six months, which is quite possible, there is likely to be some significant downward impact, according to the latest analysis from ALG, which examined the […] [Read More]

AUBURN HILLS, Mich. — In a move that could help boost sales for the automaker in a highly profitable segment, Chrysler has rolled out a revamped certified pre-owned vehicle program that, among other improvements, includes a greater number of the automaker's dealers offering CPO models. The re-launched program features a dedicated CPOV Web site, in addition to […] [Read More]

HANOVER, Md. — The National Vehicle Leasing Association said Monday that it has turned to Automotive Association Services for management services. Heading up the project for AAS is Jack Tracey, president of AAS. "We handle other auto-related associations, and NVLA is a good fit," Tracey stated. More specifically, AAS offers management services to such organizations as the […] [Read More]

SANTA MONICA, Calif. — Analyzing used-vehicle prices, Edmunds.com discovered that prices are up across the board by about 2 percent from the previous month. However, the company noted that apparently the prices of used Toyotas impacted by the recalls are down an average of 2.5 percent. Discussing the results, Joe Spina, Edmunds.com analyst, pointed out, "Many […] [Read More]

CARY, N.C. — The Pre-Owned Automobile Dealers Alliance recently announced that registration is now open for a new Webinar series called Pre-Owned LIVE. These new Webinars, which are free and open to all interested dealers, will begin March 23 at 2 p.m. with a timely topic — Sourcing Pre-Owned Vehicles in the Tight Wholesale Market. The free […] [Read More]

MARKHAM, Ontario — Canadian Black Book rolled out its fifth annual Retained Value Awards earlier this week, honoring the 2006 model-year vehicles that maintain their value the strongest. To determine the recipients — which are chosen in 17 segments — Canadian Black Book says it measures actual retained value from MSRP over a four-year time frame. "The winners […] [Read More]

OAKVILLE, Ontario — Recognizing the highest rated facilities in Canada, Ford of Canada recently unveiled the winners of its 2009 Auction Quality Award and 2009 Reconditioning Excellence Award. Taking home the Auction Quality honors were ADESA Calgary and ADESA Moncton, which were the two highest-rated Ford Sponsored Auctions in the Auction Quality Program. Officials explained that […] [Read More]

OTTAWA, Ontario — In light of the reinstatements General Motors announced are occurring in the U.S., the Canadian Automobile Dealers Association is calling for a similar move in its country. More specifically, CADA is calling the automaker's dealership reduction process "flawed" and alleging that General Motors Canada made mistakes in terminating 240 dealers. The group is asking GM […] [Read More]