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]

TrueCar gave automakers and brands their monthly report cards late last week and one domestic OEM, in particular, moved close to the top of the class. After earning a C+ in January, General Motors not only showed some of the highest month-over-month improvement but also tied with Hyundai with the second-highest grade of any manufacturer, […] [Read More]

J.D. Power and Associates unveiled its 2011 U.S. Vehicle Dependability Study on Thursday with one brand, in particular, celebrating its first-ever top ranking. Earning the top spot in this year’s rankings was Lincoln, which has never claimed the No. 1 perch in the more than two-decade history of the VDS. J.D. Power determines a brand’s […] [Read More]

In what could be stemming from gas-price anxiety, dealers’ used-vehicle inventory on hand appears to be changing. And the shift that CNW Research spotted could possibly end up being "troubling" for dealers. What, exactly, did CNW see? Basically, CNW noticed that instead of there being a shortage of trucks within dealership inventories, dealers are now finding that […] [Read More]

Cars.com believes the recent 10-percent increase in fuel prices has consumers thinking back to 2008 when prices at the pump shot above $4 per gallon and dealers couldn’t keep compacts and hybrids in inventory. An analysis of user search data shows Cars.com has seen nearly a 70-percent surge in interest for hybrid vehicles and a […] [Read More]

Among U.S. industries that import goods in transport containers from Japan, the biggest is the auto sector, according to analysis from The Journal of Commerce/PIERS. Most catastrophic natural disasters like the one that decimated Japan tend to have a far-reaching economic impact and can certainly dole a heavy blow to exports; however, the auto industry and related fields […] [Read More]

For more than 40 years, the American International Automobile Dealers Association has worked in Washington, D.C., to represent the interests of international nameplate auto dealers. Sometimes that means challenging legislation that will impact our bottom line. Sometimes it means bringing dealers to town to meet with their legislators and advocate for their businesses. And sometimes […] [Read More]