Ford expands financing offers to match rivals' plans
Jul 6, 2002
July 5, 2002 DEARBORN, Mich. Bloomberg News said that Ford Motor Co.,expanded its no-interest loans to match U.S. rivals in using the incentives to clear out 2002 model cars and trucks. Almost all Ford-brand cars and trucks including the Taurus sedan will have no-interest loans available, for as long as 60 months, expa ... Continue reading
Ford Brings Back Interest-Free Loans
Jul 3, 2002
DETROIT Reuters is reporting that Ford,is following the lead of cross-town rival General Motors Corp. and is reviving interest-free loans to lure customers into showrooms amid an uncertain economic climate. The announcement came just one day after GM, the world's largest automaker, said it was reintroducing the "zero p ... Continue reading
Mitsubishi Motors Reports June Sales Up 12.6%
Jul 2, 2002
CYPRESS, Calif., July 2 -- Mitsubishi Motor Sales of America, Inc. (MMSA) today reported June sales of 22,388 units, moving Mitsubishi's year-to-date sales up to 173,590 units, 12.6 percent ahead of last year."We remain very positive about the outlook for 2002," said MMSA President and COO Pierre Gagnon. "We expect to ... Continue reading
Ford Credit Offers Financial Relief to Western U.S. Fire Victims
Jul 2, 2002
DEARBORN, Mich., July 1 Ford Credit is offering customers affected by the recent fires in the Western U.S. the opportunity to delay some car payments. Ford Credit's Disaster Relief Program allows qualified customers to skip one or two monthly payments, resuming their regular payment schedules when their situations impr ... Continue reading
Autodaq and AutoTradeCenter Sign Merger Agreement
Jul 1, 2002
MENLO PARK, Calif. & MESA, Ariz.--July 1, 2002-- Autodaq Corporation and AutoTradeCenter.com Inc. (OTCBB:AUTC) announced today the signing of a definitive merger agreement. The combined entity offers the automotive remarketing industry the most comprehensive set of remarketing services for manufacturers, leasing, renta ... Continue reading
Nissan Motor Acceptance Corporation (NMAC) Announces New Leadership
Jun 28, 2002
TORRANCE, Calif., June 27 -- Today, Nissan Motor Acceptance Corporation (NMAC) announced that Steve Lambert has been named the company's new president. Lambert will replace Katsumi Ishii, a 15-year employee of Nissan North America, who will return to Japan for a new assignment after a 3-month transition period. "This m ... Continue reading
Dana Corporation Completes Sale of Selected DCC Subsidiaries
Jun 27, 2002
TOLEDO, Ohio, June 27 /PRNewswire-FirstCall/ -- Dana Corporation announced today that, in connection with its previously announced plans to divest the businesses of its Dana Credit Corporation (DCC), it has completed the sale of selected DCC subsidiaries to the Investment Equipment Acquisition Statutory Trust, a U.S. a ... Continue reading
BigFNI Welcomes Two Veterans of the Automotive Industry to Board and Executive Positions
Jun 26, 2002
LAGUNA NIGUEL, Calif., June 26 -- BigFNI announced today that it is pleased to welcome Ted Cunningham as Vice-Chairman of the Board/Director of Sales and Marketing, and Gene Stohler as Vice-President, Business Development. Together, these two distinguished automotive industry leaders bring a wealth of over 70 years exp ... Continue reading
Wells Fargo Unveils Dealer Express Service
Jun 26, 2002
SAN FRANCISCO--June 26, 2002-- Wells Fargo Helps Auto Dealers Move Their Businesses Online, Providing Free of Charge Access, Anytime, Anywhere Wells Fargo & Company today announced the launch of the Dealer Express Service Web site -- a revolutionary new online account management solution for auto dealers. With Dealer E ... Continue reading
Toyota to join U.S. automakers' credit joint venture -Calling Judge Green
Jun 21, 2002
June 21, 2002 Southfield, Mich. Bloomberg news reported that Toyota Motor Corp.'s consumer-credit unit will become a partner in the RouteOne joint venture formed by U.S. automakers to streamline the automobile loan-approval process. Toyota Financial Services is taking a 10 percent stake in RouteOne, said Bud Liebler, a ... Continue reading
Big Three Credit Joint Venture Named RouteOne
Jun 13, 2002
DaimlerChrysler Services (DCS), Ford Motor Credit Company (FMCC) and General Motors Acceptance Corporation (GMAC) Announce the Name and Board of Directors of New Joint Venture SOUTHFIELD, Mich., June 13 -- The joint venture company formed by the captive finance arms of DaimlerChrysler Services, Ford Motor Credit Compan ... Continue reading
Credit Acceptance Corporation Renews $135,000,000 Revolving Credit Agreement
Jun 11, 2002
SOUTHFIELD, Mich.--June 10, 2002--Credit Acceptance Corporation announced today that it has completed the renewal of its $135 million credit agreement with a group of commercial banks. Borrowings under the facility will continue to bear interest at the bank's prime rate or 1.4% over the Eurocurrency rate at the Company ... Continue reading
Mitsubishi Motors keeps 0% loans as rivals turn to rebates
Jun 10, 2002
June 10, 2002 Bloomberg News is reporting that Mitsubishi Motors Corp. plans to keep its U.S. strategy of letting customers drive off in new cars or trucks for no money down and no interest or payments for a year as rivals shift to more expensive rebates. The Tokyo-based maker of the Lancer small car and Montero sport- ... Continue reading
Today’s Important News, Tomorrow
Jun 6, 2002
It was Monday, June 3rd, 8 PM Detroit time, 5 PM on the West Coast, midnight in London and the beginning of the next workday in Tokyo, Seoul, and Taipei, when this major automotive news story broke: Ford is pulling out of Wingcast, its telematics joint venture, and Qualcomm says it will fold the venture! Whoa! A Monume ... Continue reading
Credi Card Offers Program to Help Summer Vacationers Stretch Their Dollars
Jun 6, 2002
RIVERWOODS, Ill.--June 6, 2002--Discover Financial Services, a business unit of Morgan Stanley , today unveiled its Great American Drive promotion that gives Discover Cardmembers the tools they need to plan and enjoy their summer road trips without digging deep into their pocket books. From now until August 31, Discove ... Continue reading
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