Ford Direct Adds Experian Automotive Data to Sites
Sep 21, 2010
Sept. 21 -- FordDirect announced today that used vehicles listed on its Website at http://www.forddirect.com and about 3,500 dealer Websites provided through its DealerConnection service will now feature Experian Automotive's AutoCheck® vehicle history reports. Used car shoppers want transparency when it comes to unde ... Continue reading
GMAC-SAIC Celebrates Sixth Anniversary With Record Monthly Contract Volume
Sep 14, 2010
2010 Retail Contracts Booked Through August Surpass 2009 Full Year Total SHANGHAI, Sept. 14 -- GMAC-SAIC Automotive Finance Co., Ltd. (GMAC-SAIC), a joint venture between Ally Financial Inc., Shanghai Automotive Group Finance Co., Ltd. and Shanghai General Motors Co. Ltd., announced that it booked a monthly record for ... Continue reading
Aug 30, 2010
Latest credit analysis from Experian Automotive shows positive signs for a healthier auto lending market SCHAUMBURG, Ill., Aug. 30 -- Automotive loan delinquencies dropped during Q2 2010, marking the second consecutive quarter that showed a year-over-year decrease in quarterly delinquencies. Lenders also made a higher ... Continue reading
Aug 18, 2010
DETROIT, Aug. 18 -- General Motors Company today announced that it has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) for a proposed initial public offering consisting of common stock to be sold by certain of its stockholders and the issuance by the company of its Seri ... Continue reading
FinanceAcar Launches World's First Car Finance Comparison Engine
Aug 13, 2010
LONDON, Aug. 11 -- UK car finance specialist, http://www.financeacar.co.uk/, announced today that it has launched the world's first car finance comparison engine. It fills an estimated 11.5 billion pounds gap left by traditional comparison websites in the UK such as Moneysupermarket.com that only compare car finance pr ... Continue reading
Auto Affordability Flat As Recovery Slows in Q2 Comerica Bank Reports
Aug 10, 2010
DALLAS August 10, 2010; The purchase and financing of an average-priced new vehicle took 23.6 weeks of median family income in the second quarter of 2010, according to Comerica Bankâs Auto Affordability Index. The average total cost of buying and financing a new car increased by $200 to $27,950, a 2.7 percent annu ... Continue reading
Ally Financial Nee GMAC Adopts 'Ally' Brand for Auto Finance Business
Jul 13, 2010
The $100 billion GMAC auto finance operation rebrands in North America DETROIT, July 13 -- Ally Financial Inc. (Ally) today announced that it will rebrand its GMAC consumer and dealer-related auto finance operations in the U.S., Canada and Mexico and begin using the Ally name. This follows the transition of the corpora ... Continue reading
GMAC Insurance National Drivers Test Finds 38 Million American Drivers May be Unfit for Roads
May 28, 2010
Survey Shows Most Knowledgeable Drivers in Kansas, Least in New York WINSTON-SALEM, N.C., May 27 -- The 2010 GMAC Insurance National Drivers Test released today found that nearly 1 in 5 licensed drivers - roughly 38 million Americans - would not pass a written drivers test exam if taken today. Kansas drivers ranked fir ... Continue reading
Chevrolet and USAA Provided $24 Million in New Car Discounts to Military Families in 2009
May 28, 2010
DETROIT, May 27 -- Chevrolet and USAA, a financial services provider for the military community, provided more than 21,000 discounts, for a total value of $24 million, to help U.S. troops and their families purchase a new Chevrolet in 2009. The result contributes to the industry's best military discount program: the US ... Continue reading
NADA: Brownback Amendment is 'Pro-Consumer and Keeps Auto Credit Affordable'
May 19, 2010
Major auto dealer groups unite in support of Brownback amendment WASHINGTON, May 19 /PRNewswire-USNewswire/ -- The major trade associations representing the nation's new-automobile dealers joined Sen. Sam Brownback, R-Kan., today on Capitol Hill rallying support for his amendment to the Wall Street reform bill which wi ... Continue reading
Chrysler Concerned About GM Taking Your GMAC Back In House
May 14, 2010
WASHINGTON, May 13, 2010; John Crawley writing for Reuters reported that Chrysler Group LLC would need time to find a permanent and stable replacement for providing auto loans if it loses access to bank financing it shares with General Motors Co GM.UL, Chrysler Chief Executive Sergio Marchionne said on Thursday. Marchi ... Continue reading
GMAC Financial Services Reports Preliminary First Quarter 2010 Financial Results
May 3, 2010
- Reported first profitable quarter since fourth quarter 2008; Fifth consecutive profitable quarter from the core automotive business - First quarter 2010 net income of $162 million and core pre-tax income of $564 million - Announces intention to rebrand GMAC Inc. to Ally Financial Inc. on May 10, 2010 NEW YORK, May 3 ... Continue reading
GMAC to Sell European Mortgage Assets and Operations
Apr 12, 2010
MINNEAPOLIS, April 12 -- GMAC Financial Services today announced that its mortgage subsidiary, Residential Capital, LLC (ResCap), has agreed to sell its European mortgage assets and businesses to affiliates of certain funds managed by affiliates of Fortress Investment Group LLC . These transactions represent approximat ... Continue reading
GMAC To Provide Financing for Saab Dealers and Customers
Mar 15, 2010
DETROIT, March 15 -- -- GMAC chosen as financial services provider to Saab Automobile -- Preferred source of wholesale and retail financing for dealers and customers Following its successful launch as an independent company, Saab Automobile announced today that it has selected GMAC Financial Services as the preferred p ... Continue reading
U.S. Bailout Watchdog Criticizes Treasury Over GMAC
Mar 11, 2010
WASHINGTON March 11, 2010; David Lawder writing for Reuters reported that the U.S. Treasury's decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an oversight group said on Thursday. The Congressional Oversight Panel, in a ... Continue reading
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