Recovery agents are not the only ones suffering from high fuel prices. Auctions, transportation providers and their clients are focused on ways to reduce transportation time and cost. Determining the exact location of a repossessed vehicle and when it will be ready for pick-up is a major opportunity for efficiency gains, and all parties will […] [Read More]

On Friday, General Motors announced the sale of its Class A Membership Interest in Delphi Automotive LLP back to Delphi for $3.8 billion. GM acquired the Class A Membership Interest in October 2009 in conjunction with the creation of Delphi. "We are systematically delivering on our commitment to strengthen and simplify our balance sheet," said […] [Read More]

The ongoing legal proceedings connected with the bankruptcy of the old General Motors took another step last week as the U.S. Bankruptcy Court for the Southern District of New York entered an order confirming the second amended joint Chapter 11 Plan of Motors Liquidation Co. Officials indicated the confirmation also stipulates all the conditions to […] [Read More]

Ally Financial took the first step toward an initial public offering Thursday by filing a registration statement with the U.S. Securities and Exchange Commission. This comes after several years of challenges for the company. The former General Motors captive saw its majority ownership stake sold off in 2006 as the automaker strove to improve its […] [Read More]

Polk’s analysis of 2010 loyalty rates found Ford ended the year with a 63.1 percent owner loyalty rate, the highest among vehicle manufacturers. Ford improved its loyalty rate by 3.9 percentage points over the 2009 level and overtook General Motors for the leading position.  Analysts discovered GM and Toyota rounded out the top three manufacturers […] [Read More]

Could Chrysler’s initial public offering be delayed? At least one report coming out of Fiat’s annual shareholders meeting has top executive Sergio Marchionne saying as much. During the shareholders meeting, he apparently told reporters that the IPO would be dependent upon the cash needs of Chrysler and the United Auto Workers health care trust. The […] [Read More]

Announcing how deeply Mazda Foundation is concerned for the well-being of Japanese colleagues, suppliers, employees and their families, the chairman said his group is releasing a donation of $150,000 to the American Red Cross to help. The board of directors of the Mazda Foundation unanimously approved the donation of $150,000 to the American Red Cross […] [Read More]

Dataium’s latest Auto Shopper Intensity Index shows broad declines in activity for Japanese brands starting immediately after the devastating earthquake and tsunami, and firm analysts say it has continued downward since the March 11 tragedy. The ASI Index had already seen softening after the Libyan crisis erupted and average gas prices broke $3.45 per gallon, […] [Read More]

On Tuesday, Hertz Global Holdings announced the sale of 50 million shares of common stock by the investment funds associated with Clayton, Dubilier & Rice LLC, The Carlyle Group and Bank of America Merrill Lynch that currently hold shares of common stock to Goldman, Sachs & Co. as the sole underwriter in the registered public […] [Read More]

The executive committee of the California Association of Collectors accepted the resignation of president Jerry Greenblatt so he could focus on his health. The association mentioned Greenblatt has faced a number of health challenges in recent years and most recently suffered a stroke. Officials described Greenblatt as a champion of the association within the state […] [Read More]