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Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
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SEARCHMENUSEARCHA collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
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MCLEAN, Va. — Gannett Co. has signed a definitive agreement to acquire full ownership of Cars.com for $1.8 million in cash. Under this agreement, Gannett will acquire the remaining 73% interest in the company from Classified Ventures LLC, which owns Cars.com. The publishing company also announced plans to create two publicly traded companies: one exclusively ... Read More »
Read More →NEW YORK — In the second quarter, Ally Financial Inc.’s auto franchise posted its second highest level of consumer auto originations in its history. The feat was driven by record decision applications and used-vehicle originations. Consumer financing originations totaled $10.9 billion for the quarter, up 11% year over year. The originations were comprised of $4.7 ... Read More »
Read More →General Motors Co. must turn over documents related to its subprime auto-lending under a subpoena issued by the U.S. Justice Department, the Detroit auto maker disclosed in a regulatory filing Monday, reported The Wall Street Journal. GM’s car-financing unit said it received the subpoena July 28 in connection with a federal investigation of subprime auto ... Read More »
Read More →McLEAN, Va. – NADART and the Illinois Automobile Dealers Association (IADA) announced today a new strategic partnership. As IADA’s preferred retirement plan provider, NADART will provide customized retirement plans to its member dealers and dealership employees, according to NADA. “We are excited to partner with NADART,” said IADA President Peter Sander. “Together we share a ... Read More »
Read More →SCHAUMBURG, Ill. – American Auto Guardian, Inc. (“AAGI”) is pleased to announce that Nicholas Angelides has joined its sales team as Central Regional Vice President. Nick received his bachelor’s degree in Business Administration, Economics from Florida Atlantic University. During college and after graduation, Nick worked at Nation Safe Driver, as an independent account executive, where ... Read More »
Read More →FORT WAYNE, Ind. – VisionMenu has integrated Portfollio and Wise F&I it’s to vRate™ for its electronic menu. vRate™ is an unprecedented “new feature” of VisionMenu which allows the user to rate multiple providers and multiple products simultaneously. vRate™ is a “direct to the provider” electronic rating tool that will populate all of the rates ... Read More »
Read More →SCOTTSDALE, Ariz. – CNA National is pleased to announce that, effective July 7, Ted Twombly has joined the sales team as regional vice president. “Ted brings to CNAN a wealth of experience in the automotive industry, having spent significant time with both dealerships and a service contract company,” says Alan Miller, senior vice president of ... Read More »
Read More →McLEAN, Va. – Low financing rates for auto loans, rising home values and an improving employment outlook are key factors contributing to a resurgence in new-car and light-truck sales through the first seven months of the year, says Steven Szakaly, chief economist for the National Automobile Dealers Association, reported The NADA. “Looking ahead, there is ... Read More »
Read More →Fiat SpA shareholders approved a reorganization that opens the way for the Italian car maker that owns Chrysler Group LLC to move its headquarters to the Netherlands, its tax domicile to the U.K. and list its shares in New York, reported The Wall Street Journal. With Friday’s green light from shareholders, Fiat will now merge ... Read More »
Read More →Sixty-eight people were killed and nearly 200 others injured, most with severe burns, after an explosion Saturday at an automotive parts factory in eastern China that supplies General Motors, officials said, reported The Detroit News. It was China’s most serious industrial disaster since a fire at a poultry plant killed 119 people in June last ... Read More »
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