Shopper analysis by AutoTrader.com and Kelley Blue Book showed consumers don’t appear to be taking climbing fuel prices lightly. As the average price of gas approaches $3.50 per gallon nationwide, the majority of vehicle shoppers at both AutoTrader.com and Kelley Blue Book’s Kbb.com are seriously considering fuel prices during the process. AutoTrader.com found on its […] [Read More]

Hertz Global Holdings announced plans Monday for wholly owned subsidiary Hertz Corp. to offer $300 million aggregate principal amount of 6.75 percent Senior Notes due 2019. The private offering is exempt from the registration requirements of the Securities Act of 1933, as amended, subject to market and other conditions, the company noted. Officials explained that […] [Read More]

Repossession agencies and other debt collectors could be affected by a proposed rule working its way through the Federal Communications Commission. Federal regulators are prepared to tighten the use of prerecorded, automatically dialed “robocalls” to contact contract holders through their cell phones. Collection organizations are concerned because more consumers appear to be abandoning land lines to […] [Read More]

Repo Remarketing recently ramped up its vehicle valuation system for managing credit union sales inventory. The company explained its system now has auction sales guide information from NADA Used Car Guide. Repo Remarketing chief executive officer Lance Gartner thinks reviewing of each unit’s condition and mileage and comparing them to current competitive market reports of […] [Read More]

The outlook for dealers throughout the country appears to be bright, according to the Federal Reserve, which said in its latest Beige Book report that the bulk of its 12 Federal Districts enjoyed year-over-year sales increase in the most recent reporting period. Within the respective districts, the Fed reported several pieces of good news for […] [Read More]

The old General Motors is nearly finished with the bankruptcy process. The U.S. Bankruptcy Court for the Southern District of New York orally ruled late last week that it would confirm the Chapter 11 Plan of Motors Liquidation Co., which is often referred to as the Old GM. The court indicated it also would issue […] [Read More]

Some of Canada’s top used-car dealers will be on hand at the Auto Remarketing Canada conference, presented by CarProof, to offer their thoughts on some of the experiences and best practices that have helped propel them to the top of their industry. Dealer speakers include Doug McDougall, of Don Valley North Toyota, Canada’s top Toyota […] [Read More]

The leasing market is expected to see a boom this year and then ride that wave over the next five years, ALG said in analysis released Thursday. What individual brands will reap the benefits? According to ALG, the luxury brand that will show the largest uptick this year will be Land Rover, thanks to the […] [Read More]

Penske Automotive Group made a statement Thursday to holders of the $150,602,000 outstanding principal amount of its 3.5 percent senior subordinated convertible notes due in 2026. The notification indicated that pursuant to the terms of the notes, Penske said these holders have a put option to require the company to purchase all or a portion […] [Read More]

Automotive Resources International recently wrapped up its first-ever Utility Fleet Forum, which brought together utility fleet managers and decision-makers throughout the country. It was held at ARI’s headquarters in Mount Laurel, N.J. from Feb. 22 through Feb. 24. Discussion leaders included ARI technical experts in the following fields: utility fleet management, strategic consulting, supply chain […] [Read More]