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]

As fuel costs climb, American Recovery Association leaders concede repossession agencies are “being dragged to the alligator pits under the weight of the recent fuel price increases.” As a result, ARA insisted it has been researching various fuel surcharge formulas since February that could be applied to the association’s business model. “Although it may not […] [Read More]

Along with entering a new credit facility, Dealer Services Corp. of Indiana recently consummated the offering of $252.2 million of asset-backed securities due in 2014. Company officials explained the securities — issued through DSC Floorplan Master Owner Trust — are composed of $225 million of senior-secured notes and $27.2 million of subordinate-secured notes. They mentioned […] [Read More]

LeaseTrader.com recently discovered its users aren’t offering much of an incentive for another individual to take over their Toyota Prius contract. In fact, site officials determined cash incentives from drivers looking to unload their Toyota Prius lease contract are averaging near zero, down sharply from an average of $450 in January. As a comparison, LeaseTrader.com […] [Read More]

Toyota’s rebound from negative recall ramifications appears to be gaining more steam thanks to the results of the spring 2011 Perceived Quality Study from ALG. The study showed Toyota’s perceived quality score rose 4 percent during the last six months and Lexus once again captured the luxury category’s highest perceived quality rating in 2011. On […] [Read More]

Spokespersons for both General Motors and Chrysler confirmed to Auto Remarketing this week that the two companies have both separately sued Allied Systems Holdings for allegedly withholding property of the respective automakers against their wills. In Detroit, GM filed a suit Monday against Allied Systems in federal court. Meanwhile, Chrysler filed its suit Tuesday in […] [Read More]

With a projected ratio of two used-vehicle sales for every one new-unit sale this month, TrueCar.com indicated Thursday that March’s used-vehicle sales total is likely to be 2,459,891 — a figure that includes transactions by franchise and independent dealerships as well as private-party sales. If that estimate holds, the site calculated the total would represent […] [Read More]