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Finance & Insurance

Chrysler in talks to form financing JV, sources say

4:41 pm U.S. ET | Feb. 8, 2012
Chrysler is in talks with banks to create a financing joint venture that would help the automaker build on its recent sales momentum, sources say. Ally and JPMorgan Chase are among the banks Chrysler is talking with, The Wall Street Journal reported. Of the three Detroit automakers, Chrysler is the only one without a dedicated financing arm.... Read More »
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Volvo establishes captive finance arm

4:30 pm U.S. ET | Feb. 5, 2012
Volvo Cars of North America is launching a captive finance arm, and services will begin this year. Bank of America will provide funding for Volvo Car Financial Services' financing products.... Read More »
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Subprime rivalry bodes well for dealers

2:00 pm U.S. ET | Feb. 5, 2012
Subprime auto lending should continue to grow in 2012. But the big percentage gains that several major subprime lenders saw in 2011 aren't likely to be repeated, and that suggests competition in the segment will intensify. It could be good news for dealers if lenders are competing harder for their business.... Read More »
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Hesterberg: Level of F&I paperwork is 'ridiculous'

2:00 pm U.S. ET | Feb. 5, 2012
State and federal regulations that mandate extra paperwork on F&I transactions have reached "ridiculous" proportions, says Earl Hesterberg, CEO of the Group 1 Automotive dealership group. Exhibit A: The tougher rules for "adverse action" notices that took effect in 2011.... Read More »
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For Lincoln, exclusive F&I products

12:01 am U.S. ET | Feb. 3, 2012
Ford Motor Credit Co. is tailoring its F&I products for Lincoln customers. Ford Credit launched Lincoln Automotive Financial Services in November as part of a strategy to polish Lincoln's credentials as a luxury brand and gain a degree of separation from the Ford brand.... Read More »
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Ally Financial posts Q4 loss on mortgage charge

8:51 am U.S. ET | Feb. 2, 2012
Auto and mortgage lender Ally Financial, the former GMAC finance company now majority-owned by the federal government, posted a preliminary fourth-quarter loss as it took a charge related to the settlement of foreclosure abuses.... Read More »
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Nissan reports strong third-quarter profit on China sales

3:04 am U.S. ET | Feb. 8 2012
Nissan today said it boosted its third-quarter profits as the carmaker reached record sales in China. Net income rose 3.2 percent to 82.7 billion yen ($1 billion) in the three months ended Dec. 31, the company said in a statement.... Read More »
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DealersMore »

New vehicles' fuel economy rises nearly 3 mpg from 2008-12 models, study says

7:08 am U.S. ET | Feb. 7 2012
New cars and trucks for sale on U.S. dealer lots today get nearly 3 mpg more than new vehicles for sale four years ago, University of Michigan researchers said. For all 2012 light vehicles offered for sale, the average EPA estimated fuel economy is 21.5 mpg, up 14 percent from 18.9 mpg for 2008 models, according to the report from the university's Transportation Research Institute.... Read More »
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MarketingMore »

Chrysler's halftime ad: A roadmap for America?

8:20 am U.S. ET | Feb. 7 2012
Is what is good for Chrysler good for America? The automaker is courting controversy and won kudos for a two-minute Super Bowl advertisement that was less a car sales pitch than a political message in a presidential election year.... Read More »
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RemarketingMore »

Manheim report sees positive trends in leasing

12:01 am U.S. ET | Feb. 6 2012
In 2011, 20 percent of the 10.6 million new vehicles counted as sold in the United States at retail, excluding sales to fleets, were leased, one percentage point higher than in 2010, says the Manheim 2012 Used Car Market Report. More important than the percentage gain, the report concludes, is that the industry got leasing right last year, at least "for the most part."... Read More »
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Service & PartsMore »
FIXED OPERATIONS

Dealer uses service clinics to build loyalty

12:01 am U.S. ET | Feb. 6 2012
Dealer Bob Rountree says that about 70 percent of his new- and used-vehicle buyers at his two Ford Motor Co. stores are repeat customers. Rountree credits much of his success to an epiphany he had 10 years ago: He would offer a service clinic once each quarter to his buyers of both new and used vehicles.... Read More »
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NADAMore »

Wade urges timeout on facility plans

12:01 am U.S. ET | Feb. 6 2012
After its long-awaited study of facility-improvement programs, the National Automobile Dealers Association wants automakers to put their programs on hold for review, citing conclusions in the study that they cost too much, produce uncertain results and matter little to shoppers.... Read More »
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Final AssemblyMore »
FINAL ASSEMBLY

Updated version of 'Rambo Lambo' SUV is on the way

12:01 am U.S. ET | Feb. 6 2012
Before the heyday of big SUVs in the 1990s, Lamborghini departed from its script and introduced the LM002 -- a muscular off-roader that was built in small numbers from 1986 to 1993. The "Rambo Lambo" was seen as an oddity for a company famed for such distinguished high-performance sports cars as the Miura and Countach.... Read More »
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