Ford Motor Credit Company Names K.R. Kent Vice Chairman and Chief Financial Officer
Feb 2, 2006
DEARBORN, Mich., Feb. 1 -- Ford Motor Credit Company today announced that K.R. Kent, currently assistant treasurer of Ford Motor Company, has been named Ford Motor Credit's vice chairman and chief financial officer, effective March 1. Kent is replacing David P. Cosper, who is leaving the company March 1 to become execu ... Continue reading
Honda Financial Services Receives Highest Ranking in Non-Luxury Loan Satisfaction
Feb 1, 2006
TORRANCE, Calif., Feb. 1 -- Honda Financial Services received the highest ranking in the non-luxury loan segment in the J.D. Power and Associates 2005 Consumer Financing Satisfaction Study(SM). In addition to receiving high marks in payment/billing, provider offering and application/approval process, Honda Financial Se ... Continue reading
Chrysler Financial Deploys RouteOne Across Entire Dealer Network
Jan 23, 2006
Leading the Charge in Dealer-Focused Technology FARMINGTON HILLS, Mich., Jan. 23 -- Chrysler Financial announced today the completion of its national rollout of the automated credit evaluation system ACE featuring RouteOne. With this credit source aggregation system, all Chrysler, Jeep(R) and Dodge dealers will see sig ... Continue reading
Ford Motor Credit Earns $2.5 Billion In 2005
Jan 23, 2006
Fourth Quarter Earnings of $465 Million Reported DEARBORN, Mich., Jan. 23 -- Ford Motor Credit Company reported net income of $2.5 billion in 2005, down $370 million from earnings of $2.9 billion a year earlier. On a pre-tax basis from continuing operations, Ford Motor Credit earned $3.9 billion in 2005, down $570 mill ... Continue reading
Vehicle Financing is Just a Click Away When Visiting the Chrysler Financial Web Site
Dec 21, 2005
FARMINGTON HILLS, Mich., Dec. 21 -- Chrysler Financial has redesigned the chryslerfinancial.com Web site to provide a fresh new look and feel for new and existing customers visiting the site. Shopping for a vehicle online has never been easier, as a consumer looks to build a vehicle, shop for the latest incentives or g ... Continue reading
Research Company Reports Consumer Loan Satifaction Study
Dec 19, 2005
Ford Credit Ranks Highest in Luxury Lease and Non-Luxury Lease Satisfaction; GMAC Ranks Highest in Luxury Loan Satisfaction; Honda Financial Services Ranks Highest in Non-Luxury Loan Satisfaction WESTLAKE VILLAGE, Calif., Dec. 19 -- Direct lending has gained popularity particularly among luxury new-vehicle buyers where ... Continue reading
GM Announces Beancounter Management Moves
Dec 6, 2005
Fritz Henderson Named GM Vice Chairman, Chief Financial Officer; John Devine to Remain up to One Year as Vice Chairman DETROIT – Frederick “Fritz” Henderson, chairman of GM Europe and a GM group vice president, has been elected GM vice chairman and chief financial officer by the GM Board of Directors, ... Continue reading
Dec 6, 2005
DETROIT --- General Motors Acceptance Corp. (GMAC), the wholly owned financial services subsidiary of General Motors Corp. , and Scotia Capital, the corporate and investment banking arm of The Bank of Nova Scotia , today announced a long-term strategic financing agreement regarding GMAC's U.S. automotive retail assets. ... Continue reading
Dec 2, 2005
DETROIT - General Motors Corporation today announced key executive moves at its financial services subsidiary, GMAC. Barbara Stokel has been named executive vice president of GMAC North American Operations, with responsibility for GMAC's U.S and Canadian automotive financing operations and the company's Nuvell and Semp ... Continue reading
National City Announces Decision to Exit Indirect Retail Auto and Motorsports Lending Business
Nov 16, 2005
Quantifies Charges Expected for Fourth Quarter CLEVELAND, Nov. 15 -- National City Corporation today announced its decision to exit the indirect retail auto and motorsports lending business. Continued low returns and volume challenges were the primary factors in the company's decision. (Logo: http://www.newscom.com/cgi ... Continue reading
Auto Affordability Slid in the Third Quarter, Reports Comerica Bank
Nov 15, 2005
DETROIT, Nov. 15 -- The purchase of an average- priced, new vehicle during the third quarter of 2005 took 26.2 weeks of median family income, according to the Auto Affordability Index compiled by Detroit- based Comerica Bank. The latest reading is up 1.5 weeks from the prior quarter, resulting in the worst reading for ... Continue reading
Percentage of Americans With Low-Cost Auto Loans Surges While Burden of Car Loans Eases
Nov 7, 2005
AGAWAM, Mass., Nov. 7 -- With many Americans buying cars with employee-discount and other steep incentives in recent months, the percentage of those with car loans and leases costing less than $300 a month jumped sharply to 45%, up from 32% last year, according to the Cambridge Consumer Credit Index. The percentage of ... Continue reading
GE Consumer Finance and Shenzhen Development Bank Enter Strategic Alliance
Oct 21, 2005
SHENZHEN, China--Oct. 20, 2005--GE Consumer Finance ("GECF"), the global consumer lending unit of General Electric Company , and Shenzhen Development Bank (SZSE 000001, "SDB"), the first publicly traded bank in China, today announced that they have entered into a Strategic Cooperation Agreement to develop consumer fina ... Continue reading
GM- Right From the Horses Mouth
Oct 17, 2005
3rd Quarter 2005 Earnings Broadcast Rick Wagoner GM Chairman and CEO Renaissance Center In this speech by General Motors management, our use of the words "expect", "anticipate", "design," "estimate", "forecast", "initiative," "objective", "plan", "goal", "project", "outlook", "priorities," "targets", "intend", "evaluat ... Continue reading
Auto Industry Leaders Offer Tips on Financing a New or Used Vehicle
Oct 11, 2005
WASHINGTON, Oct. 11, 2005; With new 2006 car and truck models rolling onto dealer lots and plenty of good deals to be found, millions of Americans will be looking to acquire a new or used vehicle this fall. Americans Well-informed on Automobile Retailing Economics (AWARE), a group of automotive industry leaders that ha ... Continue reading
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