Archive | Auto Industry News

GM’s Whitacre Strives to Create Stability

DETROIT – General Motors Co. Chairman Ed Whitacre said his appointment to lead the automaker indefinitely as CEO will help provide stability to a team that’s now “set at the top,” reported Automotive News. Whitacre overhauled GM’s top executive structure when he took over as interim CEO in December. Among the changes: naming Mark Reuss … Read More »

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Auto Task Force: Dealer Arbitration, Loan Repayments Won’t Jeopardize GM

WASHINGTON – The Obama administration says General Motors Co. is in better financial shape than the federal government anticipated when it arranged $50 billion in assistance last year, Automotive News reported. The automaker’s bottom line will not be jeopardized by dealer arbitrations that lead to reinstatements or settlements, or by $8 billion in loan repayments … Read More »

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Source: Ford to Add 1,200 Jobs in Chicago

Ford Motor Co. will add 1,200 jobs at its Chicago assembly plant later this year to build the new Explorer sport utility vehicle, a person briefed on the matter told The Associated Press. The company and Illinois Gov. Pat Quinn are scheduled to make the announcement on Tuesday at the factory, but Quinn told reporters … Read More »

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Fiat Reports $397M 4Q Loss

Fiat Group SpA, controlling stakeholder in Chrysler LCC, on Monday reported a fourth-quarter loss due to a sharp decline in sales of trucks and construction equipment — even as sales of its small, fuel-efficient cars rose thanks to cash-for-clunkers incentives, reported The Associated Press. The quarterly loss of €281 million ($397 million) compares with a … Read More »

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DealerTrack Canada Completes Acquisition of Trade Tracker, Inc.

TORONTO – DealerTrack Canada, Inc., a subsidiary of DealerTrack Holdings, Inc., has acquired Trade Tracker, Inc. for approximately $1.2 million (CDN) in cash. Trade Tracker, a privately held company based in Mississauga, Ontario, has about 300 dealer customers across Canada that use its online trade appraisal tool. The appraisal tool enables dealers to review, appraise … Read More »

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Regional Acceptance Corp. Joins Loan Platform

FARMINGTON HILLS, Mich. — RouteOne LLC has completed integration with North Carolina-based Regional Acceptance Corporation, allowing dealers to process credit applications electronically to Regional Acceptance through RouteOne. Regional Acceptance is a wholly owned subprime auto lending subsidiary of BB&T Corp., a financial holding company with assets in excess of $110 billion, headquartered in Winston-Salem. Regional … Read More »

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