Beat the Doom And Gloom with a Great Deal From Volkswagen Finance
Mar 10, 2009
There are plenty of reasons to be gloomy about the state of the economy. But there are also some reasons to celebrate. And with the new registration plate upon us, now is really a very good time to buy a car. ... Continue reading
U.S. Auto Task Force Meets UAW, GM, Chrysler in Detroit
Mar 10, 2009
DETROIT March 9, 2009; David Bailey writing for Reuters reported that members of the Obama administration's autos task force met for the first time with the national leadership of the United Auto Workers on Monday as part of a visit to the Detroit area where they again met with executives of General Motors Corp and Chr ... Continue reading
U.S. Auto Sales Fall in February 2009 As Recession Deepens
Mar 4, 2009
DETROIT March 3, 2009; Kevin Krolicki writing for Reuters reported that U.S. auto sales dropped by more than 41 percent in February to the lowest level in almost three decades as deepening economic uncertainty drove Americans away from big purchases and new debt despite aggressive discounts from major automakers. Gener ... Continue reading
GMAC CEO awarded $11.62 mln compensation in 2008
Mar 1, 2009
NEW YORK February 28, 2009; Reuters reported that GMAC LLC on Friday said Chief Executive Alvaro de Molina was awarded $11.62 million of compensation in 2008, more than twice as much as a year earlier, when he engineered debt restructurings and capital raising to keep the struggling finance company in business. De Moli ... Continue reading
Mercedes-Benz First To Offer Leasing In China
Feb 26, 2009
Mercedes-Benz Auto Finance China (MBAFC) will become the first auto finance company to offer vehicle leasing in China. After entering the Chinese market with financing and insurance offerings in November 2005, MBAFC - a subsidiary of Berlin-based Daimler Financial Services AG - now completed its product range by adding ... Continue reading
Toyota Announces Top-management Lineup
Feb 24, 2009
Tokyo, Feb 24, 2009; TOYOTA MOTOR CORPORATION (TMC) adds the names of nominees for the positions of executive vice president to the list of executive nominees for the positions of president and higher, which TMC announced on January 20, 2009. The list of executive nominees for the positions of executive vice president ... Continue reading
GM Presents Updated Plan for a Viable, Sustainable Company
Feb 18, 2009
WASHINGTON, February 18, 2009: Restructured GM to be Re-focused, Streamlined and Simplified - Updated plan demonstrates GM's viability, despite further deterioration in global economy - Accelerated cost reductions - GMNA EBIT breakeven level lowered to U.S. industry levels of 11.5-12.0 million units - Additional govern ... Continue reading
U.S. Senate Adds Auto Tax Break to Stimulus Package
Feb 4, 2009
Washington DC Februry 4, 2009; The AIADA newsletter reported that the U.S. Senate added a boost for automakers and car dealers to the economic-stimulus plan late Tuesday, which would create a tax deduction for the interest on a new-vehicle loan. The proposal by U.S. Sen. Barbara Mikulski is now part of the $900-billion ... Continue reading
Folding Auto Dealers Leave Car Buyers With Unpaid Liens
Feb 2, 2009
SACRAMENTO, Calif. Feb 1, 2009; Don Thompson writing for the AP reported that the national wave of auto dealership closures has come crashing down on thousands of people who are on the hook for used-car loans that dealers were supposed to absolve. When a car buyer still owes money on a vehicle he is trading in, the dea ... Continue reading
Black Horse Taxi Finance Has Competitive Rates And Is Still Lending To Drivers
Jan 28, 2009
LTI's financial arm, Black Horse Taxi Finance, is still helping drivers buy new Taxis. While many banks have stopped lending or reduced the amount that they will lend to borrowers, Black Horse Taxi Finance has continued to provide specialist loans and its business as usual for drivers looking for a new deal in 2009. ... Continue reading
Citroën Contract Motoring's New Products - Designed For A Tough Financial Climate
Jan 27, 2009
Citroën Contract Motoring (CCM), one of the UK's largest vehicle contract hire companies, is expanding its product portfolio with additional products to meet current financial conditions. ... Continue reading
GMAC gets Fed's OK to become bank holding company
Dec 24, 2008
WASHINGTON December 24, 2008; Emily Kaiser writing for Reuters reported that GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy. The Federal Reserve's approval should allow GMAC to continue financing loans for Gen ... Continue reading
Honda CEO Warns Strong Yen to Cripple Japan industry
Dec 19, 2008
TOKYO, Dec 19, 2008; Chang-Ran Kim writing for Reuters reported that the head of Honda Motor Co Stock Buzz) warned the strong yen could cripple Japanese industry and spur massive layoffs, and said the automaker would be forced to bring more production overseas if the dollar persisted below 100 yen. "If the government i ... Continue reading
Auto Loans, and Chrysler Incentives, Available at Many Credit Unions
Dec 17, 2008
by Mike Ellis TheFirehouse Blog Tough time to get an auto loan? Not at credit unions. Theyâve avoided the subprime mortgage meltdown and other risky investments that have crippled many segments of the financial services industry, said David Adams, President and Chief Executive Officer of the Michigan Credit Union ... Continue reading
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