News By Topic: Credit Bureaus (Chrysler Credit, GMAC, etc.)

DaimlerChrysler Services Establishes an All-new Business Vehicle Finance Group

Jan 27, 2004

- Business Vehicle Finance Combines the Strengths of Chrysler Financial with those of DaimlerChrysler Services Truck Finance - Support and Expertise Provided to Dealers with Commercial Portfolios FARMINGTON HILLS, Mich., Jan. 26 -- Leveraging the strength of both Chrysler Financial and DaimlerChrysler Services Truck Fi ... Continue reading

Ford Earns 2003 Net Income of $495 Million, or 27 Cents Per Share

Jan 22, 2004

- Full-year net income of $495 million, or 27 cents per share. - Full-year income from continuing operations, excluding special items, more than doubled to $1.14 per share compared with a year ago, exceeding the company's full-year guidance of $1.05 - $1.10 per share. - Achieved pre-tax profitability in the automotive ... Continue reading

FORD CREDIT EARNS RECORD $1.8 BILLION IN 2003

Jan 22, 2004

Fourth Quarter Earnings of $470 Million Reported DEARBORN, Mich., Jan. 22 -- Ford Motor Credit Company reported record net income of $1.8 billion in 2003, up $583 million from earnings of $1.2 billion a year earlier. On a pre-tax basis from continuing operations, Ford Credit earned $3.0 billion in 2003 compared with $2 ... Continue reading

Now How Many Yuan a Month is the Car? - China Refines Lending Policies for Car Maker Financing

Jan 21, 2004

BEIJING, Jan 21, 2004; Reuters reported that China published new rules to help auto credit lenders curb risks on Wednesday as they gear up to cash in on the world's fastest-growing major car market. The rules, published on the central bank's Web site (www.pbc.gov.cn) for public feedback until February 20, were "aimed a ... Continue reading

Toyota Financial Joins DaimlerChrysler Services North America in Lithia Motors Credit Facility

Jan 21, 2004

MEDFORD, Ore.--Jan. 21, 2004--Lithia Motors, Inc. announced today that Toyota Financial Services has joined DaimlerChrysler Services North America as a partner in Lithia's credit facility. Toyota's participation will be for approximately $75 million. The credit facility of up to $200 million is for acquisitions and wor ... Continue reading

CNN Money: The 'yo-yo' car sale trap - Good Advice

Jan 18, 2004

You thought the new car was yours. Then comes the call a few days later. "There's a problem..." NEW YORK January 2004; Peter Valdes-Dapena writing for CNN/Money wrote:You've got your new car. You showed it off to all your friends. You've driven it to work a few a times. ... Continue reading

Auto Financial Group Forms Partnership with Membership Marketing Support Services

Jan 14, 2004

HOUSTON--Jan. 14, 2004--Auto Financial Group, an online provider of residual-based financing products for credit unions, announced today that it has formed a partnership with Membership Marketing Support Services, a Pennsylvania-based company that specializes in credit union marketing. The companies have joined forces ... Continue reading

GMAC Bank Announces New Chief Financial Officer

Jan 9, 2004

HORSHAM, Pa. - GMAC Bank has named Brian Kuelbs its chief financial officer, responsible for all financial activities at GMAC Bank. Functional groups reporting to the CFO include treasury services, mortgage portfolio management, and accounting/control functions within the bank. "Brian brings extensive investment experi ... Continue reading

Chinese Banks Put Some Skin The Game - Loan BMW Brilliance Automotive Billions

Dec 27, 2003

SHANGHAI December 27, 2003; Dow Jones reported that three Chinese banks have signed a loan agreement with BMW Brilliance Automotive Ltd., a bank official said Friday. The syndicated loan deal includes an eight-year 1.3 billion yuan ($1=CNY8.28) term loan. The banks, Industrial & Commercial Bank of China, Shanghai Pudon ... Continue reading

State Auto Financial Announces Record Third Quarter Profit

Oct 28, 2003

COLUMBUS, Ohio--Oct. 27, 2003--State Auto Financial Corporation -- Combined ratio of 97.6 -- Net income up 165% -- Revenue increase of 7.3% State Auto Financial Corporation today reported third quarter net income increased to $15,580,000, or $0.38 per diluted share, versus $5,885,000 or $0.15 per diluted share for the ... Continue reading

Magazine Reports that Uebber Will Become DaimlerChrysler CFO

Oct 26, 2003

FRANKFURT, Oct 25, 2003; Reuters repeated that Bodo Uebber, finance chief at DaimlerChrysler's services division, is earmarked to replace Manfred Gentz as the carmaker's chief financial officer at the end of 2004, a German magazine reported on Saturday. The 44-yearold Uebber, already slated to join the group's manageme ... Continue reading

DaimlerChrysler Achieves Group Operating Profit of USD 1.45 Billion In Third Quarter of 2003

Oct 21, 2003

* Chrysler Group returns to a positive operating result * Operating profit at Mercedes Car Group on a high level * Commercial Vehicles division achieves substantial increase in operating profit * Services continues strong positive earnings trend * Affirmation of Group goal: operating profit from ongoing business of aro ... Continue reading

Nissan achieves industry-leading 11.3% operating margin

Oct 16, 2003

Tokyo, October 16 -- - Nissan announces 15.2% increase in first-half operating profit to 401.1 billion yen Nissan Motor Company announced today that it expects to report an 11.3% operating profit margin for the first half of fiscal year 2003 and a 15.2% increase in operating profits, to 401.1 billion yen (US$3.40 billi ... Continue reading

Ford Credit Earns $504 Million in Third Quarter

Oct 16, 2003

DEARBORN, Mich., Oct. 16 -- Ford Motor Credit Company reported record net income of $504 million for the third quarter of 2003, up $210 million from earnings of $294 million in the same period a year earlier. On a pre-tax basis, Ford Credit earned $809 million in the third quarter of 2003 compared with $460 million in ... Continue reading

Mercedes-Benz Credit Restructures Operations to Strengthen Customer Focus

Oct 15, 2003

* Closer alignment with sales and marketing operations of Mercedes-Benz USA * Operational efficiencies gained * Managing Directors announced * Transition to begin Q2 of 2004 FARMINGTON HILLS, Mich., Oct. 15 -- Mercedes-Benz Credit (MBC), a business unit of DaimlerChrysler Services North America LLC, announced today a n ... Continue reading