Yesterday, General Motors announced that it had clinched a new $11 billion U.S. credit line deal it had been actively seeking following the automaker’s government assisted restructuring. The new credit agreement, which is designed to finance a number of the …
Last month, Ford Motor Company of Canada Limited said it sold 20,565 vehicles which not only enabled it to retain the top sales spot but also represented a seven per cent increase year-to-date. Passenger cars rose by 17 per cent, …
In the wake of the destruction wrought by Hurricane Sandy on the U.S. Northeast, Automotive News reported that both car manufacturers and the National Automobile Dealers’ Association are gearing up to support relief efforts. Both Toyota and Mercedes-Benz have pledged …
Following Hurricane Sandy’s path of destruction along the U.S. Eastern Seaboard, dealers have begun inspecting the damage wrought by the powerful storm. In New Jersey, one of the hardest hit states, DCH group reported that nine of its 15 East …
According to Reuters, dealer management software provider Reynolds and Reynolds is in talks for a possible leveraged buyout, according to sources close to the discussion. The privately held company has hired investment bank Qatalyst Partners to oversee a possible sale, …
Although Chrysler and General Motors have become a hot political topic in the run up to this year’s U.S. presidential election, specifically the bailout funds received in 2008-09, until now, their CEOs have chosen to remain outside the political debate. …
On Sunday, 400 members of the Canadian Auto Workers’ Local 222 at Lear Corporation in Whitby, Ont., walked off the job after contract talks between the auto seat manufacturer and the union broke down. As a result, vehicle production on …
Several months ago, we received word from the Ontario Motor Vehicle Industry Council about an elaborate financial scam targeting dealers in the province. More recently, there have been other reports of criminal activities targeting dealers, with both OMVIC and the …
LAR, the largest purchasing group exclusively dedicated to new vehicle franchised dealers in North America, recently announced that more than a quarter of a billion dollars in additional discounts and dividends have been distributed to its dealer members since the …
Having come under criticism from dealers, Tesla co-founder and CEO Elon Musk has defended the company’s position on its Apple style retail strategy. In a blog entry this week, Musk wrote that Tesla “does not want to change the franchise …
During a speech to members of the Automotive Press Association in Detroit, yesterday, Bill Underriner, chairman of the National Automobile Dealers’ Association, focused on two key issues currently affecting new car dealers. He said that “two-tier pricing and mandatory facility …
In order to help boost business as we head toward the end of the year, automakers are offering up incentives, allowing consumers to get out of their current lease agreements and into new vehicles. Among those participating in such programs …
