FORT WORTH — GM Financial announced the pricing of a $1 billion offering of automobile receivables-backed securities through lead managers Barclays Capital, RBS and Wells Fargo Securities. Co-managers are Deutsche Bank Securities, Morgan Stanley and UBS Investment Bank. The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2011-3, in seven classes … Read More »

Chrysler Group LLC, the U.S. automaker operated by Fiat SpA, said global automobile sales in May rose 11 percent from a year earlier, trailing the goal Chief Executive Officer Sergio Marchionne set for 2011. Global deliveries climbed to 160,144 last month, Auburn Hills, Michigan-based Chrysler said in an e-mail. Worldwide sales this year through May … Read More »

Ford Motor Co. Chief Executive Officer Alan Mulally said that while the economy is the automaker’s main concern, he expects conditions to improve in the second half of the year. “Our biggest concern of course is that the economy has slowed a little bit from where we thought it would be,” Mulally said today in … Read More »

The U.S. Treasury Department is reluctant to sell part of its 33 percent stake in General Motors Co. to the company at this point because the price is too low, a person familiar with the matter said. Executives at Detroit-based GM have discussed buying some of the Treasury’s shares or allowing all holders of common … Read More »

AUSTIN – IAS, a provider of F&I aftermarket programs to automobile dealerships, is releasing a tablet based software program called SmartPad, the newest addition to the SmartDealerProducts software suite. SmartPad shortens the F&I process and creates sales opportunities by utilizing the electronic tablet to gather and present a customizable array of information while the customer … Read More »

IRVINE — Looking to capitalize on increasing vehicle sales and market share, Hyundai Motor America has announced the launch of an in-store accessory sales program to be facilitated through MOBIS Parts America and powered by Insignia Group, LC, which provides accessory sales tools and training. The program provided by Insignia will feature a customized, Web-based … Read More »