Archive | Auto Industry News

Only 2 U.S. Models on Car and Driver’s Annual ’10 Best’ List

Car and Driver magazine released its annual “10 Best Cars” list online today, rating its favorite driving experiences based on models available for sale in 2010 and less than $80,000. Michigan Auto provided an analysis: Among the winners, only two Detroit-bred entries made the cut: the Ford Fusion Hybrid and the Cadillac CTS, which C&D … Read More »

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TransUnion: 60-day Rate Rises, Following Cyclical Pattern

CHICAGO — The national 60-day auto delinquency rate rose between the second and third quarters, but analysts for TransUnion.com said the rise was consistent with what has occurred in 2009. The report also showed that some states are emerging from the recession faster than others. The 60-day delinquency rate rose from 0.73 percent in the … Read More »

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Consumer Credit Rebounds to Pre-Cash for Clunkers Levels

Consumer credit patterns returned to their status quo in September, with interest rates, loan terms and loan-to-value ratios reverting to their pre-Cash for Clunkers (C4C) levels, according to the Federal Reserve’s monthly report. The loan-to-value ratio, which fell to 86 percent in August during C4C, rebounded to 91 percent in September. The amount financed increased … Read More »

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3Q Bankruptcy Filings Up 33 Percent

ALEXANDRIA, Va. — U.S. bankruptcies filed in the third quarter 2009 totaled 388,485, a 33 percent increase over the 292,291 cases filed in the year-ago period, according to data from the Administrative Office of the U.S. Courts. Total filings for the first nine months of 2009 were up 35 percent to 1.1 million compared to … Read More »

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Edmunds.com: Incentives Rise for 2010 Model Year Vehicles

SANTA MONICA, Calif. — Edmunds.com estimates that the average automotive manufacturer incentive in the U.S. was $2,713 per vehicle sold in November 2009, up $52, or 1.9 percent, from October 2009, and up $32, or 1.9 percent, from November 2008. “Now that 2010 models are piling up on dealership lots, incentives on the new models … Read More »

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Shut-down Dealer Awarded $4M in Lawsuit Against GMAC

A federal jury sided with a Pennsylvania dealer in November when it awarded him $4 million in damages in a lawsuit against GMAC Financial Services, according to the Reading Eagle. Donald Mente is the former owner of Mente Chevrolet in Richmond Township and Mente Chrysler Dodge Jeep in Maxatawny Township, both in Pennsylvania. Mente filed … Read More »

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