MCLEAN – The NADA Used Car Guide predicted yesterday that gas prices will peak at $4 per gallon in May, but said it expects the impact on used-car prices to be mild by historical standards. According to the U.S. Energy Information Administration, the average price of regular grade gasoline has jumped by 49 cents since … Read More »

DALLAS – EFG Companies, a financial service products administrator, announced the establishment of a professional services division that will provide dealers with training, recruiting and marketing services. The division will be led by Chuck McGraw, senior vice president. “Our expansion is a direct result of the significant resources we invest in equipping our client engagement … Read More »

ROSELAND – ADP Dealer Services announced the next wave of companies that have been approved to join the ADP Third Party Access Program. Vendor partners approved between Oct. 1, 2011, and Dec. 31, 2011, include ADNT Inc., MaximTrak Technologies and Time Highway. “ADP has always understood that dealerships own their data and enjoy having choices … Read More »

ARLINGTON HEIGHTS – American Auto Guardian, Inc. (“AAGI”) announced that Lanny Cox joined their sales team as Central Regional Vice President. Lanny has more than 18 years of diverse experience within the automotive retail, aftermarket and consulting industries. His retail experience began in sales and ascended the ranks to include positions as F&I Director, Sales … Read More »

Ford Motor Co. awarded Chief Executive Officer Alan Mulally $58.3 million in stock as a reward for the automaker’s turnaround. Ford paid the stock to its top executive as part of an incentive plan for 2009, according to filings yesterday with the U.S. Securities and Exchange Commission. Ford earned $29.5 billion in the last three … Read More »

DETROIT – Toyota Motor Corp. gave U.S. sales chief Jim Lentz the additional title of CEO in a shuffle of North American leadership. Lentz takes on the chief executive role April 1 while remaining president of Toyota Motor Sales U.S.A., the automaker said in a statement today, according to Automotive News. Lentz, 56, who joined … Read More »