Dollar Thrifty Automotive Group announced late last week that one of its subsidiaries has priced a group of rental car asset-backed notes to raise more capital. Oklahoma based Rental Car Finance Corp. priced $500 million in aggregate principal amount of medium-term Series 2011-1 rental car asset-backed notes. Company officials state that the notes will be […] [Read More]

Ontario dealer Al Revell no longer buys any vehicle at the physical auction. Instead, the co-owner of Revell Ford Lincoln in Verona, Ontario takes care of all his store’s wholesale buying needs through OPENLANE. A case study on Revell’s store from OPENLANE revealed that a few years ago, Ford was steering its dealers to utilize […] [Read More]

Acknowledging it won’t recoup the full amount owed by the Old Chrysler, the U.S. Department of the Treasury said Thursday it received $560 million in proceeds from the sale of its remaining stake in Chrysler Group to Fiat. With the closing of this transaction, the Treasury declared that it has fully exited its investment in […] [Read More]

So far this month, although new retail sales have picked up the pace from June and May, various downward pressures appear to be keeping sales at bay. The market still hasn’t returned to the strength it saw during the first few months of 2011, according to J.D. Power and Associates. The firm is forecasting July […] [Read More]

About eight months after rolling out its initial public offering, General Motors revealed a quarterly dividend on its preferred stock this week. GM’s board of directors approved a $0.59375 per share divided on the company’s Series B mandatory convertible junior preferred stock, officials noted. Series B holders of record as of Aug. 15 will be […] [Read More]

Kelley Blue Book’s Jack Nerad gathered his thoughts Wednesday and made a stiff rebuttal to the recent proclamation issued by the White House and federal regulators about future Corporate Average Fuel Economy standards. Nerad first recapped that automakers have been told they should roll out lineups with the CAFE levels reaching 56 miles per gallon. […] [Read More]

R.L. Polk & Co. revealed Wednesday that it has appointed a director of forecasting for the Americas. Hired to the position is Anthony Pratt, who most recently was head of PricewaterhouseCoopers’ Autofacts team. Pratt’s duties in the new role include overseeing Polk’s forecasting operations in the Americas. He will also head up showcasing, selling and delivering […] [Read More]

Despite being left speechless by the destruction that the March 11 earthquake caused, Akio Toyoda was amazed during his visit by the commitment to moving on shown by the people of Tohoku, the region receiving the biggest blow from the disaster. And in the four-plus months that have followed the devastating earthquake in Japan, the […] [Read More]

In the first two quarters of 2011, dealers fetched higher prices for the new vehicles on their lots than they had in any other six-month span, according to TrueCar’s 2011 first-half analysis. The opening six months of the year were dominated by trends such as this one that arose out of the devastating earthquake in […] [Read More]

When asked Monday what impact Hertz Global Holdings acquisition of the company will have on remarketing at Donlen Corp., executive vice president of brand and UX Suzanne Deveney said that Donlen customers will likely benefit. “As of now, there are no changes planned in any area, including remarketing,” she told Auto Remarketing. “In fact, we […] [Read More]