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Regional Acceptance Corp. Joins Loan Platform

FARMINGTON HILLS, Mich. — RouteOne LLC has completed integration with North Carolina-based Regional Acceptance Corporation, allowing dealers to process credit applications electronically to Regional Acceptance through RouteOne. Regional Acceptance is a wholly owned subprime auto lending subsidiary of BB&T Corp., a financial holding company with ... Read More » Tags: ,

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New-vehicle Retail Sales Off to a Slow Start in 2010

WESTLAKE VILLAGE, Calif. — The new-vehicle retail selling rate in January is expected to decline compared with both December 2009 and one year ago, according to J.D. Power and Associates, which gathers real-time transaction data from more than 8,900 franchisees across the United States. January ... Read More » Tags: ,

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About 600 GM, Chrysler Dealers on Closing Lists File Appeals

DETROIT — About 21 percent of the General Motors and Chrysler dealers whose businesses are being shut down by the automakers have filed paperwork appealing the decisions, reported The Associated Press. Around 600 dealers out of the roughly 2,800 whose franchises were revoked last year ... Read More » Tags: , ,

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Penske Corp. Decreases Stake in Penske Automotive

Penske Corp. is reducing its stake in Penske Automotive Group Inc. to 35 percent from 40 percent, through a secondary offering of up to 5.75 million shares of common stock, reported Automotive News. Penske Automotive Group filed documents Thursday with the U.S. Securities and Exchange ... Read More » Tags:

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Harley-Davidson Posts 4Q Loss, First in 16 Years

NEW YORK - Harley-Davidson Inc. reported a fourth-quarter loss Friday, its first quarterly deficit in 16 years, as restructuring costs and the sluggish economy wore on the motorcycle maker, reported The Detroit News. Its shares fell more than 5 percent in morning trading. Harley-Davidson has ... Read More » Tags:

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Edmunds.com: January Car Sales Low, as Expected

SANTA MONICA, Calif. — An early look at January auto sales indicates a Seasonally Adjusted Annual Rate (SAAR), of about 10.5 million, according to Edmunds.com. This may be disappointing to industry observers, but Edmunds.com’s December analysis forecasted that January SAAR was likely to come in ... Read More » Tags: ,

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