Automotive financier MARAC has had its credit rating affirmed by international rating agency Standard & Poor’s (S&P) as BB+, and its outlook improved to “stable” from “negative”.

MARAC chief executive Jeff Greenslade says “The rating outlook improvement is an acknowledgement by S&P of the substantial progress made within MARAC’s business over the last 12 months and reflects improving asset quality, strong liquidity, a robust balance sheet and capital base, and MARAC’s good market position.”

General Motors chief executive Ed Whiteacre is about to step down  - but it appears it is not yet time for a Kiwi to take the top job.

GM chief financial officer Chris Liddell had been tipped as a future leader for the company, but this time Dan Akerson, an Obama appointment to the company’s board and head of a private equity firm, has been appointed to the role.

Just a year out from bankrupty, GM posted a second quarter profit of $1.3 billion dollars, and is expected to announce an IPO to allow the US government to exit its shareholding in the company.

A fraudster that took a car from a Palmerston North yard has been sentenced to a year in prison.

Lyn Douglas Walkinshaw was sentenced on a total of seven fraud charges in the Palmerston North District Court on Tuesday.

In addition, Judge John Clapham ordered Walkinshaw to repay $12,236 in reparations to businesses Walkinshaw stole from.

Dealer software that has already found a home at 2500 dealers in Australia is set to enter the New Zealand Market.

Launched in Australia 11 years ago, and now modified for the New Zealand market, Autogate is available to both franchise and non-franchise dealers and is already being utilised by the likes of John Andrew Ford & Mazda in Auckland and Holden New Zealand.

Autogate is available through DataMotive, a division of Australia’s listed carsales.com.au.

Autogate Pro was specifically designed by DataMotive to help dealer’s manage and convert more customer opportunities to sales.

“With several dealers and manufacturers already making use of the management system, Autogate Pro is only the beginning for DataMotive in New Zealand,” DataMotive New Zealand general manager Paul Hardiman says.

Used import registrations have continued their upward march, reaching the highest level in 26 months during July, according to NZTA statistics.

July’s 7893 registrations were 7% ahead of June 2010 and 28% ahead of July 2009.  For the year to date, used import registrations are 39% ahead of 2009.

Used import commercial sales were in contrast down for the month to 212 units from 237, a fall of 10.5% from July 2009.

If there is a phrase within the field of digital marketing that is bandied about on a regular basis by those within either business or social circles it is that of social media.

When we refer to social media, just what do we mean?

What do we know about the subject and, importantly, how will it influence what you do, or how can you incorporate components of social media into your dealership business to increase operating profits?

The local distributor of Volvo cars in New Zealand has welcomed the confirmation that Chinese manufacturer Geely has completed the purchase of Volvo from Ford.

Stefan Jacoby, the chief executive of  Volkswagen Group of America, has become president and chief executive officer of Volvo Cars, which has been bought by Zhejiang Geely Holding Group Co. Ltd.

The Geely Holding Group, is one of the fastest-growing car manufacturers in China.

“Volvo Cars in New Zealand is delighted by the ownership change,” says Volvo general manager at distributor Motorcorp, Steve Kenchington.