Just before departing for Labor Day weekend, Hertz Global Holdings announced it completed the acquisition of Donlen. Officials recapped the acquisition was funded by $177 million in cash proceeds from Hertz and the assumption of $770 million in Donlen fleet debt. The companies stressed Donlen provides Hertz an immediate leadership position in long-term car, truck […] [Read More]

With also gauging how much Hurricane Irene effected the numbers, the chief economist of the National Automobile Dealers Association attributed August’s new-vehicle sales performance to one factor — inventory levels. Paul Taylor believes the amount of vehicles on franchised lots not only swayed last month’s sales, but also likely will be the dominating factor as […] [Read More]

Late last week, Vehix released what it considers to be the top used vehicles for teenage drivers that are not only affordable, but are top-notch in terms of safety and reliability. The “8 Great Used Cars for under $10,000 for Teenagers” features only vehicles that met the numerous requirements from Vehix, which included a minimum […] [Read More]

Some Ontario dealers who regularly make out-of-province sales may actually benefit from a new tax law, according to the Used Car Dealers Association of Ontario. UCDA pointed out in its latest Front Line report that the new HST rule can allow eastern and northwestern Ontario dealers to apply lower tax rates when they sell to […] [Read More]

In what has been an up-and-down rollercoaster kind of year for the Canadian auto market, August continued the streak of unpredictable, volatile car sales, according to DesRosiers Automotive Consultants. After falling 5 percent in July, the new-vehicle market was up 3.2 percent during August, the firm explained. While the 140,361 sales were stronger than year-ago […] [Read More]

CNW Research said August used-vehicle sales slipped 3.3 percent versus the same month a year ago, but the drop had nothing to do with activity at franchised or independent dealerships. So what triggered the August drop? CNW president Art Spinella attributed the decline to a softer private-party market, which tumbled down more than 18 percent […] [Read More]

The “virtual freeze” in dealership merger and acquisition activity in the preceding three years has thawed in dramatic fashion during 2011, according to the automotive wing of The Presidio Group financial services firm. Presidio’s report says it is an ideal time to buy dealerships — which are currently enjoying record per-store profits and healthier sales — and […] [Read More]

In a departure from what is typical for the Labor Day holiday at dealerships, Kelley Blue Book believes that leasing incentives and low APR finance deals may be the name of the game this weekend instead of the usual cash rebates that automakers pile on this time of year. Ordinarily, automakers use Labor Day weekend […] [Read More]

Contained within its latest update to the Securities and Exchange Commission, CarMax shared details of a new unsecured revolving credit facility with Bank of America. Officials said CarMax, CarMax Auto Superstores and certain other subsidiaries of the company terminated the previous credit agreement with Bank of America, the lender and administrative agent. The event came […] [Read More]

CarWoo discovered this week that site data showed the rigor of negotiation appears to be lessening as new-vehicle prices begin to return to first quarter levels after peaking in July. Back in March, the site indicated online new-vehicle buyers were making their purchase decisions in just a little more than one day. By July, as […] [Read More]