SANTA MONICA, Calif. — The cost to own a vehicle can vary greatly from state to state, sometimes by more than $10,000 over five years for the exact same vehicle, according to Edmunds.com, which recently investigated how expensive it is to own vehicles in specific states. Edmunds.com research indicated that the state with the highest average five-year […] [Read More]

WASHINGTON, D.C. — Transportation Secretary Ray LaHood recently reiterated his praise for the success of last year's Cash for Clunkers program. This time, LaHood's comments came as a reaction to positive reports from the DOT Office of Inspector General and the General Accounting Office. Federal officials believe Cash for Clunkers successfully completed its top objectives set […] [Read More]

ATLANTA — In a round of lending announced Tuesday, AutoTrader.com can tap into a new set of funds thanks to a financing arrangement it made with Goldman Sachs Lending Partners LLC and Wells Fargo Bank, National Association that provides the company with senior secured revolving credit and term loan facilities in an aggregate principal amount of […] [Read More]

AUBURN HILLS, Mich. — To give its dealer body another selling point in the spring season, Chrysler rolled out is May incentives on Tuesday, announcing that zero-percent financing through GMAC Financial Services is now available on most of its 2010 lineup. Breaking it down, on Chrysler brand vehicles, shoppers can choose from zero-percent financing for up […] [Read More]

TULSA, Okla. — In late-breaking news Tuesday, Dollar Thrifty Automotive Group issued a public letter to Avis Budget saying that its board is ready to entertain a substantially higher offer to acquire the company. More specifically, the company stated, "Consistent with its obligations under the Hertz merger agreement and with its fiduciary obligations to shareholders, the […] [Read More]

SANTA MONICA, Calif. — Providing an update on Perceived Quality Scores in its most recent Residual Value Report, ALG said the two brands showing the most improvement from the fall are Ford and Kia, respectively, while Toyota, had the heaviest drop-off by far. So, how does this affect residual values? "ALG's residual values for the May-June […] [Read More]

ATLANTA — Many great tools exist for repossession agencies and their clients to increase communication, keep costs down and manage the repo-to-remarketing processes efficiently. Oftentimes agencies and clients fail to partner closely and over-communicate early in their relationship or when new processes are rolled out, leading to underused or misused technology and missed expectations. As AutoIMS […] [Read More]

CITRUS HEIGHTS, Calif. — Repo Remarketing recently promoted one of its executives to vice president of sales and operation. Assuming this position is Claudia Plascencia. Plascencia joined Repo Remarketing seven months ago as senior operations manager. In her new role, the company indicated that Plascencia's team will be responsible for national sales and operations of repossession […] [Read More]

CHICAGO — While incentives may have been effective in generating consumer interest in Toyota in March, those gains didn't last in April, according to Cars.com, which suggested the downward effect from the automaker's recalls on its sales will likely linger. Specifically, the site said that during April, Toyota new-vehicle leads on Cars.com fell 17 percent. Showing particularly […] [Read More]

NEW YORK — Recent analysis from PricewaterhouseCoopers pinpointed what the firm believes will be the fundamental changes necessary for the near-term restructuring and long-term sustainability of the automotive industry. Firm analysts contend that greater automotive merger and acquisition activity will be the driving force. That was the crux of the report titled, "Drive Value — Automotive M&A […] [Read More]