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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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Sonic Automotive Inc. reported that second quarter net income was $26,000, compared to $9.2 million in the year-ago period. Total revenue was $1.3 million in the second quarter, down from $1.8 million in the same period last year.
Read More →Arctic Cat Inc. today reported a net loss of $5.9 million on net sales of $69.4 million for the fiscal 2010 first quarter ended June 30, 2009.
Read More →Group 1 Automotive Inc. reported second quarter adjusted net income from continuing operations of $10.3 million, down 42.4 percent, or $17.8 million, from the year-ago period.
Read More →Penske Automotive Group Inc. reported second quarter income from continuing operations of $19.8 million, down from $39.0 million reported in the year-ago period. Total revenue in the second quarter was $2.3 billion compared to $3.3 billion in the same period last year.
Read More →Despite its auto finance unit’s profit nearly tripling, mounting charge-offs led Capital One Financial Corp. to report a second-quarter loss of $275.5 million.
Read More →Toyota is offering regional lease rates to consumers participating in the government’s Car Allowance Rebate System (CARS).
Read More →Auto dealer floorplan ABS transactions entering early amortization due to manufacturer or finance company bankruptcy are largely performing within expectations, though material concerns remain over valuation declines in a still challenged macro environment, according to Fitch Ratings.
Read More →Ford Motor Credit Company reported net income of $413 million in the second quarter of 2009, an improvement of $1.8 billion from a net loss of $1.4 billion a year earlier.
Read More →Infiniti launched its “Limited Engagement Summer Event” program offering special lease rates and zero percent financing on select 2009 models.
Read More →Chrysler Group LLC introduced “Double CA$H for Your Old Car,” a new incentive program that offers consumers up to $4,500 cash or 0 percent financing for 72 months through GMAC Financial Services.
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