$2.4 Billion Net Income for Ford in Second Quarter 2011
Jul 26, 2011
Second quarter net income was $2.4 billion, or 59 cents per share, a $201 million decrease from second quarter 2010. Pre-tax operating profit was $2.9 billion, or 65 cents per share, a decrease of $64 million from second quarter 2010. Automotive pre-tax operating profit was $2.3 billion for the second quarter, an incre ... Continue reading
Smart Phones Distracting Less Drivers
Jul 20, 2011
2011 GMAC Insurance National Drivers Test revealed that while 8 in 10 drivers say it is never safe to text, email or use their smart phone, an alarmingly large percentage of drivers use various features of their smart phones when operating their vehicles. Even with a number of states banning handheld cell phone use and ... Continue reading
Jul 11, 2011
Daimler Truck Financial (DTF) announced today it has reached an agreement with Mitsubishi Fuso Truck of America (MFTA) to begin providing financial products and services for more than 175 MFTA dealers and their customers in the United States. Daimler Truck Financial, which provides financial services for Freightliner, ... Continue reading
Renault & Nissan customers Get EchrohPay
Jul 11, 2011
LONDON--The success of the service has proven how the automation of appropriate calls has brought significant and rapid benefits to our organisation. EckohPAY gives our customers complete peace of mind that their payments are being handled in a PCI DSS compliant manner. ... Continue reading
Mercedes-Benz Financial Services Mobile Technology Strategy
Jun 22, 2011
By Larry Nutson (IMG_1790) Senior Editor, The Chicago Bureau The Auto Channel Mention Mercedes-Benz automobiles and the first words that come to mind might be elegant, sophisticated or perhaps expensive. But, how about the word cool? Mercedes-Benz Financial Services (MBFS) has the goal of providing customers with a sea ... Continue reading
Hyundai and Motozuma Make it Easier for First-Time Car Buyers
Jun 19, 2011
With the recent introduction of the 2012 Accent, Hyundai is making it easier for first-time car buyers to purchase an affordable, value-rich vehicle. Hyundai is continuing to offer industry-leading value to consumers with the renewal of its partnership with Motozuma. ... Continue reading
Gas Price Conscious Car Shoppers Need to Be Aware of Financing Costs
Jun 7, 2011
Memorial Day signaled the unofficial start to summer, meaning Americans are hitting the road again. With gas prices recently reaching $4 per gallon, drivers are anxious about how much of their disposable income they will need for transportation. As in years past, many car shoppers are considering smaller, fuel efficien ... Continue reading
Management Changes at Mercedes-Benz Financial
Jun 6, 2011
President and CEO Franz Reiner to lead European Region and become Chairman of Mercedes-Benz Bank in Germany Peter Zieringer, Current Chairman of Mercedes-Benz Bank to lead Americas Region as President and CEO Peter Zieringer Appointed to Daimler Financial Services Board of Management Appointments Effective August 1, 20 ... Continue reading
Auto Lenders Financing More Subprime Consumers in Q1, According to Experian Automotive
May 26, 2011
SCHAUMBURG, Ill., May 26, 2011 -- Experian Automotive today announced findings from its quarterly analysis of the automotive credit industry. The latest report shows that the share of loans to credit-challenged new vehicle shoppers grew by 11.1 percent in Q1 2011 compared with Q1 2010. Share of loans to nonprime custom ... Continue reading
GMAC Insurance Study: Nearly 1 in 5 American Drivers Unfit for the Road
May 26, 2011
WINSTON-SALEM, N.C., May 26, 2011 -- Today, the 2011 GMAC Insurance National Drivers Test results revealed that nearly 1 in 5 drivers on the road today cannot meet the basic requirements to get a driver's license, meaning that 36.9 million American drivers ââ¬â roughly 18 percent ââ¬â would not ... Continue reading
Alternative Motors Secures $4.2M Annual Financial Commitment from Sterling Credit
May 22, 2011
LAS VEGAS--Alternative Motors, Inc. has announced the securitization of a $4.2M annual financial commitment from Sterling Credit effective immediately. The financial commitment consists of a program which will enable Alternative Motors to leverage its existing and future accounts receivable into instant positive cash f ... Continue reading
FinCo Management Secures Credit Facility and Growth Equity to Launch Lending Capabilities
May 13, 2011
PR Newswire MARBLEHEAD, Mass., May 13, 2011 MARBLEHEAD, Mass., May 13, 2011 -- FinCo Management, an emerging provider of consumer finance solutions to the used automobile industry, today announced it has received a new credit facility led by Metropolitan Equity Partners as well as additional growth equity investment fr ... Continue reading
Auto Affordability Flat in First Quarter of 2011, Comerica Bank Reports
May 12, 2011
DALLAS, May 12, 2011 -- The purchase and financing of an average-priced new vehicle took 23.2 weeks of median family income in the first quarter of 2011, unchanged from its fourth quarter 2010 level. Consumers on average spent $400 more (an increase of two percent) on new cars in the first quarter. The average rates on ... Continue reading
LEAP Auto Loans Provides Financing Alternatives for Consumers Facing Repossession or Bankruptcy
May 12, 2011
SAN DIEGO--After a year of testing and development, LEAP Auto Loans, an auto leasing company serving consumers that have difficulty obtaining credit, has introduced a new leasing program that helps consumers facing repossession or bankruptcy keep their cars. LEAP works with lenders to mitigate their losses on defaulted ... Continue reading
Fitch Publishes Latest U.S. Auto ABS 'Driver's Seat'
May 11, 2011
NEW YORK--Fitch Ratings has published 'In the Auto ABS Driver's Seat' newsletter today, featuring Fitch's first quarter 2011 indices, market updates, and rating developments related to the U.S. auto loan, lease, rental car, and dealer floorplan ABS markets (auto ABS). Prime auto loan asset-backed securities (ABS) perfo ... Continue reading
The Auto Channel content library (since 1996) has grown to become the world’s most extensive and complete interactive archive of automotive centric news, articles, reviews and intense event coverage, presented to viewers as Text, Video and Images.
