Retail

CHICAGO — In mid-May, the Windy City will play host to a slew of auto industry presentations, workshops and insight, as the Automotive Economic Forecast and Financial Forum along with the National Vehicle Leasing Association's Annual Conference — two separate events — will be held back-to-back in Chicago. The Automotive Economic Forecast and Financial Forum will take place […] [Read More]

FOUNTAIN VALLEY, Calif. — Hyundai Motor America used the ongoing New York International Auto Show as backdrop to begin the 2010 Hyundai Hope on Wheels. It's the automaker's philanthropic endeavor aimed at raising money for pediatric cancer research. Hyundai chief executive officer John Krafcik announced that this year's tour will incorporate dealers as well on its […] [Read More]

DETROIT — General Motors' revamped strategy appears to be paying off, as the automaker's four core brands reported a 43.3-percent sales upswing in March compared to the prior-year period, marking the sixth consecutive month that combined sales for Chevrolet, Buick, GMC and Cadillac have increased year-over-year. Adjusted for selling days, these brands saw a 37.8-percent increase […] [Read More]

WESTLAKE VILLAGE, Calif. — Pushed by economic improvements in some areas and gains in consumer confidence, global auto sales for full-year 2010 will likely rise 4 percent from last year and steadily move back toward where they were before a sluggish 2009, according to J.D. Power and Associates. However, some markets may still be challenged, though emerging markets — like Brazil, […] [Read More]

WASHINGTON, D.C. — Having voiced its concerns to the U.S. Treasury Secretary about the recently proposed consumer protection agency that would further regulate auto dealers' financing endeavors, the National Automobile Dealers Association is calling on dealers to take action. As most likely know, Treasury Secretary Tim Geithner, along with the Department of Defense and consumer advocacy […] [Read More]

FORT LAUDERDALE, Fla. — AutoNation said Wednesday morning that it expects to see an increase in earnings per share and revenue for the first quarter 2010, and also announced that it plans to amend and extend its credit agreement. Moreover, the company unveiled a senior notes offering and announced a debt tender offer. As far as […] [Read More]

DETROIT — General Motors has made some shifts in its financial leadership, announcing this week that it has tapped current vice president and treasurer Walter Borst to serve as a vice president and Promark Global Advisors' chief executive officer. He will be taking over for Nancy Everett, who is leaving the company on June 1. Everett — the current […] [Read More]

DEARBORN, Mich. — Ford has officially found a buyer for Volvo. The company signed a definitive agreement with Zhejiang Geely Holding Group Co. Limited on Sunday. Basically, the Chinese manufacturer will purchase 100 percent of Volvo Car Corp. and related assets for $1.8 billion.   The payment will consist of a $200 million note and cash. The sale is expected […] [Read More]

TOKYO — Thanks to a hybrid system technology licensing agreement it entered with Toyota, Mazda plans to develop and build a hybrid vehicle that will likely go on sale in Japan by 2013. Essentially, Mazda will take the hybrid technology supplied by Toyota — which is what is used in the Toyota Prius — and blend it with its Sky engine (which […] [Read More]

AUBURN HILLS, Mich. — Apparently, Chrysler Group has already sent 36 letters of intent or sales and service agreements for reinstatement to dealers whose contracts were rejected under the bankruptcy proceedings last year. And now, the automaker is looking to reinstate 50 additional dealers and is in the process of sending out another round of letters […] [Read More]