Auto Industry News
Industry News Sites
New Tools
shopping Cart.
Classifieds section.
__________________________________________________________________
|
|
General Motors dealership personnel will earn bonus
money for sending consumer financing deals to
non-GMAC lenders.
The new incentive program underscores the severe
retail lending restrictions implemented by GMAC
Financial Services, GM's partially owned finance
unit.
An Oct. 7 memo to dealers summarizes the upcoming
program. According to a copy obtained by
Automotive News, the program pays up to $250 in
incentives for non-GMAC transactions. Salespersons
get $100, sales managers get $100 and the dealer can
designate an employee of choice to receive another
$50.
The term of the incentive program is unclear.
Eligible vehicles include all 2008 and 2009
Chevrolet, Pontiac, Buick, GMC, Hummer, Cadillac and
Saturn vehicles, according to the memo. ...
 story
|
|
_______________________________________________________________
BMW is making a risky bet that Americans will go for greener
luxury in their i,3 and 5 series. News Week
There is no credit crisis...
Auto sales are down not because of lack of credit but, because
people are not shopping. News Week-Ed Wallace
_________________________________________________________________
Buy Here Pay Here Conference Houston Texas Nov 2-4
Underwriting and Collections
Brochure
Speakers 713-290-8171
________________________________________________________________
Cars*Plus Software for Buy Here
Pay Here Dealers
________________________________________________________________
|
|
WASHINGTON – In a rare Saturday session, Congress
gave final approval to funding that will launch a
$25 billion low-interest loan program for automakers
and suppliers.
The program, designed to help companies retool for
more fuel-efficient vehicles, also is expected to
provide a financial lifeline to struggling
companies, particularly the Detroit 3.
The funding that is needed to begin the program,
about $7.5 billion, was attached to a wide-ranging
spending bill that will keep the federal government
running in the new fiscal year that begins
Wednesday.
The Senate vote Saturday was 78-12 in favor. The
House approved the bill last Wednesday. President
Bush is expected to sign it.
The loan program, representing unprecedented
government involvement in industry operations, was
...
story
|
|
|
|
WASHINGTON -- Automakers and suppliers soon should
be able to seek $25 billion in low-interest federal
loans to retool plants to build fuel-efficient
vehicles and components.
The House of Representatives today voted 370 to 58
to approve a broad spending bill that includes $7.5
billion to start the loan program.
The Senate is expected to agree to the budget bill
this week, and President Bush is expected to sign
it. The bill's main purpose is to keep government
running in the new fiscal year that begins Oct. 1.
...
story
|
|
_________________________________________________________________
|
|
Bill Heard Enterprises, the country's top Chevrolet
dealer group, is closing the doors at all of its 13
dealerships at the end of business today, according
to a person with knowledge of the situation.
The company notified the stores' general managers at
2 p.m. today, the source said, who spoke anonymously
because he was not authorized to speak.
High fuel prices, cancelled floorplanning from GMAC
Financial Services, a reliance on trucks and SUVs, a
soft national economy and struggles in local markets
had troubled the company, which on Sept. 12 closed
its store in Scottsdale, Ariz.
In the end, the company could not raise operating
capital and could not finance its floorplan, the
source said. Company officials have discussed
closing the company since Friday, the source said.
...
story
|
|
_____________________________________________________________/>
Lawsuit
seeks to enforce title-washing remedy
WASHINGTON -- Three consumer groups said today they are suing the
federal government to force creation of a national database of
vehicle title information, so that consumers don't unknowingly buy
rebuilt wrecks.
Auto dealers also have been victimized by unscrupulous " washing" of
vehicle titles that should be marked junk, salvage or flood-damaged,
but the National Automobile Dealers Association ...
story
Published: Feb 6 2:00 pm U.S. Eastern time
[REG]
News Sites
