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Finance & Insurance

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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AutoNation plans service contract push

6:53 pm U.S. ET | Jan. 30, 2012
AutoNation, the nation's largest dealership group, will push even harder to sell extended-service contracts and prepaid maintenance in 2012, on top of record F&I revenues per vehicle in 2011.... Read More »
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Honda's credit rating outlook lowered by Moody's

12:29 pm U.S. ET | Feb. 6 2012
Honda’s credit rating outlook was dropped from stable to negative by Moody’s Investors Service over concern the automaker faces challenges in regaining its market position due to growing competition, Bloomberg reported today.... Read More »
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Bush defends GM, Chrysler loans

10:17 pm U.S. ET | Feb. 6 2012
Former President George W. Bush on Monday defended approving the bridge loans that kept General Motors and Chrysler Group alive during the 2008 U.S. financial crisis.... Read More »
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MarketingMore »

GM seeks Volt boost from California carpool lanes, Super Bowl ad

3:30 am U.S. ET | Feb. 6 2012
GM hopes its plug-in Chevrolet Volt, stung by safety concerns, can get a sales boost from a version due next month that lets solo California drivers use carpool lanes and a Super Bowl ad touting its technology.... Read More »
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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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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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NADA survey: Hyundai dealers are most satisfied

12:01 am U.S. ET | Feb. 6 2012
Hyundai, Subaru and Lexus dealers are the most satisfied, a National Automobile Dealers Association survey shows. For the third straight survey period, Hyundai finished first overall while Kia was fourth. The twice-yearly survey measures franchised new-car dealers' satisfaction with their brands and the policies of the automakers behind them.... Read More »
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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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