Archive | Auto Industry News

Prestige Financial Securitizes $151 Million Loan Portfolio

SALT LAKE CITY — Prestige Financial Services Inc. completed its seventh rated term securitization, issuing $140.5 million in notes backed by $151.1 million in subprime automobile installment loans. Underwritten by BB&T Capital Markets, the notes were purchased in a private offering, with the transaction closing ... Read More » Tags: ,

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Economist: Auto Sales May Rise on ‘Enormous Pent-up Demand’

U.S. auto sales will rise 20 percent in 2010, buoyed by pent-up demand and stronger credit markets, as the industry starts recovering from its worst year in almost three decades, reported Bloomberg News. Deliveries will climb to 12.4 million from 10.3 million in 2008, the ... Read More » Tags:

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GM to Repay Loans From U.S., Canada by End of June

General Motors Co., the automaker that restructured in a 40-day bankruptcy, plans to repay government loans by the end of June, CEO Ed Whitacre said. The automaker owes the United States $6.7 billion and Canada $1.14 billion out of $50 billion in government aid. The ... Read More » Tags: ,

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Auto Dealers Excluded from House Financial Reform Bill

WASHINGTON — Led by NADA's strong grassroots efforts, auto dealers would be exempt from oversight by a new Consumer Financial Protection Agency (CFPA) under a sweeping overhaul of the nation's financial regulatory system passed by the U.S. House of Representatives on Dec. 11. An amendment ... Read More » Tags: ,

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Ford Chairman Praises Obama's Handling of Struggling Auto Industry

Ford Motor Co. executive chairman Bill Ford met with President Barack Obama on Monday and endorsed the administration's handling of the struggling auto industry, reported The Associated Press. Ford credited Obama for stepping in to help General Motors and Chrysler and prevent auto suppliers from ... Read More » Tags:

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VinSolutions Achieves Record Sales in 2009

OVERLAND PARK, Kan. — VinSolutions, a retail automotive software provider, recorded a 112 percent increase in new business sales revenue over last year. VinSolutions achieved this growth by offering a comprehensive automotive customer relations management (CRM), Internet lead management (ILM) and Website solution. VinSolutions’ CRM ... Read More » Tags: , , ,

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