General Motors revealed on Tuesday evening that it will be selling the entirety of shares of Fixed Rate Perpetual Preferred Stock, Series A in Ally Financial. These will be sold in a public offering and have been priced at $1 billion. The shares compose the entire lot of Ally Series A preferred stock outstanding, GM […] [Read More]

The American International Automobile Dealers Association recently shared some of the details of its upcoming International Auto Industry Summit. Among the speakers at the event will be former Minnesota Gov. Tim Pawlenty, Pulitzer Prize-winning author Paul Ingrassia, members of Congress, as well as an automaker panel that will host a Q&A session with dealers. The […] [Read More]

Even before the current run-up in gas prices appeared to be a threat, the biggest driver for consumers purchasing a vehicle, outside of the vehicle’s price, was fuel efficiency, according to AdGenesis, a mobile and online video advertising network. The company conducted a survey of 4,400 of its customers before the “news of looming gas […] [Read More]

The auto recalls that dominated the news in 2010 certainly brought some safety issues and policies into discussion throughout the industry and general public. Edmunds.com aims to delve into car safety policy in further detail when it offers a free conference this spring featuring automotive and governmental leaders, among other experts. The company’s “Truly Safe? Debunking […] [Read More]

While auto shopping activity still moved upward in February, the degree of growth has started to subside, according to Dataium, which said shopping activity may actually fall into a decline, given some of the economic drivers and ongoing world events. And through the first two weeks of the month, Dataium’s Automotive Shopper Intensity Index for […] [Read More]

While it may seem like consumers would be inclined to hop out of larger SUVs and trucks during gas-price hikes like the one currently permeating the U.S., Americans haven’t lost their “appetite” for these heftier models, according to data from LeaseTrader.com and Edmunds.com. In fact, LeaseTrader surveyed 500 drivers who — spurred by high fuel […] [Read More]

Hertz Global Holdings recently announced its wholly owned subsidiaries, Hertz Corp. and Hertz Equipment Rental Corp., have completed the refinancing of their existing senior secured credit facilities. They have come under a new $1.8 billion asset-based revolving credit facility and a new $1.6 billion senior secured term loan and letter of credit facility. Hertz indicated […] [Read More]

In what could quickly catch the attention of repossession agencies, the Federal Trade Commission recently levied the largest civil penalty in a debt collection case against a collection company for allegedly using aggressive techniques that violated federal law. The commission alleged that West Asset Management violated the FTC Act and Fair Debt Collection Practices Act. […] [Read More]

While CNW Research is reporting that used-vehicle leasing soared in February, J.D. Power and Associates discovered that on the new-vehicle side, the lease penetration rate shot past the 23-percent mark. J.D. Power credits the almost double-digit sequential climb to “more aggressive programs and the domestic brands’ partnerships.” The latter factor, explained J.D. Power senior director Thomas King, refers […] [Read More]

Ford said its Norfolk Assembly Plant property has been sold. The buyer of the plant in Norfolk, Va., is Jacoby Development out of Atlanta. Under the deal, Jacoby has sold part of the plant to global logistics provider Katoen Natie. The Belgium-based company is pumping $12 million into creating a new warehousing and distribution operation […] [Read More]