GMAC's online auction for dealers on pace to top last year
SmartAuction, GMAC Financial Service's online remarketing channel for dealers, sold nearly 210,000 used cars and trucks through May. That reflects an annualized pace of 500,000 vehicle transactions, the company said today. 1:26 pm U.S. ET | June 26
THE NEW CHRYSLER
GMAC starts rejecting Chrysler dealers
Less than a month after GMAC Financial Services extended interim inventory financing to Chrysler dealers, the company has given some of those retailers their walking papers. 12:17 pm U.S. ET | June 25 | UPDATED: 6/25/09 10:00 p.m. ET
Minnesota dealer Denny Hecker crippled his now-bankrupt rental-car company by charging it inflated lease rates so he could transfer money to his other companies and personal funds, a court filing has alleged. 3:28 pm U.S. ET | June 24
State and federal law enforcement agencies raided dealer Denny Hecker's suburban Minneapolis headquarters and other Hecker properties Wednesday. 12:01 am U.S. ET | June 18 | UPDATED: 6/16/09 5:13 p.m. ET
Ford Motor Credit Co. is outsourcing floorplan audits and end-of-lease inspection to a Long Beach, Calif., vehicle inspection company. Alliance Inspection Management Inc. 11:41 am U.S. ET | June 12
THE GM BANKRUPTCY
GMAC Financial Services has asked the U.S. Bankruptcy Court to allow it to continue to do normal business with General Motors as the automaker goes through restructuring. 11:26 am U.S. ET | June 1
Chrysler Financial is resuming discounted loan rates for Chrysler LLC vehicles, beginning with a 0 percent offer for some 2008 models. 1:53 pm U.S. ET | May 20
GMAC Financial Services is extending through May a policy that allows dealers to avoid making certain payments on aging inventory. GMAC had suspended dealers' so-called curtailment payments in April. 12:01 am U.S. ET | May 6
THE CHRYSLER BANKRUPTCY
Thousands of Chrysler LLC dealers who face the loss of floorplan financing will have an opportunity to sign up with GMAC by mid-May. 12:01 am U.S. ET | May 1
Jim Press spent a busy day Friday trying to reassure Chrysler dealers to carry on with business as usual despite news reports that a bankruptcy filing may be imminent. 12:01 am U.S. ET | April 25
After more than 20 years of relying on Honda Financial Services as a way to provide vehicle financing to its luxury-car buyers, Acura Division finally has its own captive finance arm. 12:01 am U.S. ET | April 24
NEW YORK AUTO SHOW
Chrysler LLC will stop giving dealers cash for meeting targets for wholesale vehicle orders -- at least for May. 11:34 am U.S. ET | April 9 | UPDATED: 4/10/09 8:58 a.m. ET
THE AUTO INDUSTRY BAILOUT
In a sharp reversal, GMAC Financial Services said today that it has backed off a tough new inventory repayment policy on aging new vehicles and has agreed to resume subprime lending. 10:16 am U.S. ET | April 1 | UPDATED: 4/1/09 4:19 p.m. ET
Directory
