Penske Automotive Group announced its new executive vice president and chief financial officer on Monday to replace Robert O’Shaughnessy. The company appointed David Jones to the position. Jones — who had been serving as the president and CFO within Penske’s European operations — stepped into the role immediately. As for O’Shaughnessy, this executive stepped down to take […] [Read More]

Management at Dollar Thrifty Automotive Group was tight-lipped Monday regarding the latest offer from Hertz Global Holdings to purchase the company. Hertz laid out an offer Monday morning for the country’s fourth-largest rental company that would pay Dollar Thrifty shareholders $72 per share. Comprising that $72 per share amount would be $57.60 in cash and […] [Read More]

For the second month in a row, the Kelley Blue Book Market Report recommended dealers remain cautious about going overboard in terms of stocking their inventory with fuel-efficient models. Granted, consumer demand has sent wholesale prices for these units soaring higher, but this surge won’t last forever, KBB stressed. Alec Gutierrez, KBB’s manager of vehicle […] [Read More]

Clear direction about whether a repossession agency or lender can contact debtors through some of the latest technology methods such as cell phones or social media remains uncertain, according to the American Financial Services Association. AFSA staff members recently attended a workshop hosted by the Federal Trade Commission on consumer protection related to debt collection […] [Read More]

Recovery Manager Pro recently released its new historical plate information function for its integrative cloud solution. The company indicated the newest addition to its cloud-based Web portal can enable users in both the recovery and auto finance industries to purchase information on previously spotted vehicles of interest, utilizing MVTRAC’s license-plate recognition patent. Recovery Manager Pro […] [Read More]

Late last week, vehicle research and shopping site CarGurus.com doled out a list of the most ideal used vehicles for a group of shoppers whose budgets are often tight, especially given today’s economy: recent graduates. On its list, two brands in particular — Volkswagen and Ford — led the way. In determining the group of […] [Read More]

Mimicking philanthropic efforts by automakers, the National Automobile Dealers Charitable Foundation has mobilized its emergency relief fund to aid dealership employees recovering from the tornadoes that devastated parts of Iowa and Alabama last week. NADA indicated that six people already have received grants from the foundation to help them get back on their feet after […] [Read More]

LeasePlan USA revealed its new vice president of operations on Thursday, whose responsibilities will include remarketing, in addition to other areas. Named to the role is Mike Miller, who has been with the company since 2004. Miller will be responsible for leading the commercial fleet operations group to continued success. His responsibilities will include vehicle acquisition, vehicle […] [Read More]

It shouldn’t be surprising one of the first considerations shoppers coming into your showroom will mention is fuel economy. The latest Kelley Blue Book Market Intelligence Survey concerning consumer sentiment and gas prices revealed the current economic situation, coupled with concern over the rise in fuel prices, has further caused an increasing number of new- and […] [Read More]

The NADAguides Car of the Month for May was announced this week and taking the honors is the 2011 Ford Fiesta. NADAguides lauded the car for high-quality engineering throughout the vehicle, its driving comfort, fuel-efficiency and overall values. The company also found the vehicle’s features to be “above and beyond what is expected in its class.” […] [Read More]