Ford Motor Co. Chief Executive Officer Alan Mulally, saying he has no plans to retire, said his top finance executive and product-development chief will depart. Chief Financial Officer Lewis Booth and Derrick Kuzak, group vice president of global product development, will retire April 1, Mulally said today on a conference call with reporters. Booth, 63, … Read More »

Group 1 Automotive Inc. will snap up more dealerships in 2012, CEO Earl Hesterberg said, but he doesn’t expect the retailer to make more acquisitions than it did in 2011. Last year, Group 1 added 14 franchises with total estimated annual revenues of $563 million. “We clearly have the financial ability to” exceed 2011’s numbers, … Read More »

ROCKLEIGH — Volvo Cars of North America announced the establishment of Volvo Car Financial Services (VCFS), which will begin providing financial services products to Volvo retailers in all 50 states later this year. “Launching a true captive finance arm is the most important step we will make this year to support our dealer network and … Read More »

YOKOHAMA — Nissan Motor Co. on Wednesday posted a higher profit for the three months ended in December and reaffirmed its full-year estimate, a bullish performance that positions the company as the most profitable of Japan’s three major auto makers. Company President and Chief Executive Carlos Ghosn said in a written statement he is “confident … Read More »

LAKE SUCCESS ─ DealerTrack announced the release of DealerTrack Mobile, a mobile application that enables dealers to manage and monitor finance and consumer credit application activities in real-time from their Apple iPhone or iPad. The app enables dealers to check the status of credit applications and contracts, including contracts-in-transit and funded agreements, according to DealerTrack. … Read More »

DAYTON— Reynolds and Reynolds Co. announced a number of enhancements to docuPAD, the company’s interactive F&I selling tool and document processing system. The refreshed docuPAD now sits on top of the F&I desk rather than being flush-mounted into an F&I producers work station. The screen also is 50 percent larger. “More than a half-million vehicles … Read More »