Jun 21, 2004
Management Briefing Seminars, from Aug. 2 to 6, to offer survival, success strategies from key leaders ANN ARBOR, Mich., June 21 -- A perfect storm is brewing for global automakers and suppliers, but those who lead, manage and influence the industry have the knowledge and capabilities for navigating the troubled waters ... Continue reading
GE Commercial Finance, Fleet Services Pilots Direct-to-Employee Online Remarketing Channel
Jun 17, 2004
EDEN PRAIRIE, Minn., June 17 -- Always in search of new and better ways to remarket customer assets, GE Commercial Finance, Fleet Services has partnered with Remarketing Solutions, a wholly owned subsidiary of Manheim, to develop the most comprehensive and advanced direct-to-employee online remarketing channel in the i ... Continue reading
Ford Motor Credit Settles Leasing Case
Jun 12, 2004
LANSING, Mich. June 11, 2004; Tim Martin writing for the AP reported that thousands of Ford Motor Credit customers could receive $100 each as part of a settlement related to the company's vehicle leasing practices. The agreement likely will cost Ford Motor Credit and dealerships more than $6 million, the company said T ... Continue reading
NADAguides.com and E-LOAN Announce Exclusive Partnership
Jun 9, 2004
COSTA MESA, Calif., June 9 -- NADAguides.com (www.NADAguides.com), a leading vehicle information website, and E-LOAN, Inc. , an online consumer direct lender, today announced an exclusive partnership, naming E-LOAN as the premier provider of auto and motorcycle loans for NADAguides.com automotive, classic car and motor ... Continue reading
Samsung, GM Launches Joint Venture
Jun 9, 2004
Seoul June 8, 2004; Kim Yon-se writing for the Korea Times reported that Samsung Card, which took over Samsung Capital in February, will set up a joint installment financing company with General Motors Acceptance Corp. (GMAC), a subsidiary of GM. GMAC is the world¡¯s largest auto financing company and the name of the ... Continue reading
Jun 7, 2004
ISLANDIA, N.Y., June 7 -- More than half of Americans (56%) say rising gas prices are a major concern for their household budgets and 32% say higher energy costs are a minor concern, according to the Cambridge Consumer Credit Index. Only 9% of Americans are not concerned about rising gas costs, while 2% do not purchase ... Continue reading
Lexus College Grad Program Helps Customers Slip into Dream Cars Lexus Offers $750 College Rebate
May 25, 2004
May 25, 2004 -- Torrance CA -- Thanks to a comprehensive incentive program, students graduating from college can open the door to a Lexus and drive into their futures in style. Effective June 1, Lexus will offer eligible college graduates a $750 rebate on any new or Certified Pre-Owned Lexus vehicle. For those customer ... Continue reading
Mitsubishi Motors says Phoenix Capital to Hold 40% of Refinanced Company
May 21, 2004
KYO, May 21, 2004; Reuters reported that Japan's Mitsubishi Motors Corp (MMC) (Tokyo:7211.T - News) said on Friday that Phoenix Capital's stake in the auto maker would be around 40 percent, assuming it bought 100 billion yen of common shares. DaimlerChrysler AG's holding would fall to between 22 and 23 percent from 37 ... Continue reading
May 20, 2004
HOUSTON--May 20, 2004--Auto Financial Group, an online provider of residual-based financing products for credit unions, announced today that it has launched SmartCarAuctions.com, an online auto auction service. SmartCarAuctions.com is designed to be a new remarketing source for credit unions, allowing them to create an ... Continue reading
Mitsubishi Motors Debt Paid as Stock to Creditors
May 18, 2004
TOKYO, May 19, 2004; Reuters rported that two of Mitsubishi Motors Corp's creditors in the Mitsubishi group will decide as early as Wednesday to swap 130 billion yen ($1.14 billion) of debt owed by the auto maker into equity, Mitsubishi group sources said. The Bank of Tokyo-Mitsubishi (BTM) and Mitsubishi Trust & Banki ... Continue reading
May 17, 2004
DETROIT May 17, 2004; Poornima Gupta writing for Reuters reported that Ford Motor Co.'s finance arm will slash branches, shift jobs, and add services in an effort to streamline operations, the automaker said on Monday. Ford Credit, which funds vehicle purchases and leases through Ford dealerships, will pare down its U. ... Continue reading
Autos at Most Affordable Level in 25 Years During First Quarter, Comerica Reports
May 14, 2004
DETROIT, May 14 -- The purchase of an average- priced new vehicle during the first quarter of 2004 took 20.5 weeks of median family income, before taxes, according to the Auto Affordability Index compiled by Detroit-based Comerica Bank. This is 0.7 weeks more affordable than fourth quarter's 21.2 weeks. Total cost, inc ... Continue reading
After Slower-Than-Expected April Sales, Ford Launches New Incentives on Its SUVs and Minivans
May 6, 2004
DEARBORN, Mich. May 6, 2004; The AP reported that after slower-than-expected April sales, Ford Motor Co. has launched new incentives of $1,000 plus no-interest financing on its sport utility vehicles and minivans. The program is called "The Choice" and gives buyers alternative incentives on the vehicles. Buyers of the ... Continue reading
Auto Dealers and Manufacturers Fight to Allow New York Consumers to Affordably Lease Vehicles
May 6, 2004
Leasing Declined in New York 36% in 2003 -- Twice the National Decline -- Because of the State's Antiquated Vicarious Liability Law NY Consumers Paid $132 Million More Last Year as a Result of the Law; Automobile Dealers Detail the Cost of this 'Trial Lawyers' Tax' NEW YORK, May 6 -- Vicarious liability -- the antiquat ... Continue reading
Chrome's New Vehicle Data Enhances APPRO Systems' Consumer Credit Evaluation System
May 3, 2004
PORTLAND, Ore.--May 3, 2004-- Integrating Vehicle Data into LoanCenter Consumer Enables Loan Officers to Make Quicker and More Accurate Vehicle Loan Decisions Chrome Systems Corp., a provider of automotive data, configuration technology and commerce solutions, has announced that Baton Rouge, La.-based APPRO Systems, In ... Continue reading
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