Hertz Global Holdings late Thursday said it reached an agreement with the U.S. Federal Trade Commission allowing the company to complete its acquisition of Dollar Thrifty Automotive Group. Under the terms of the proposed consent order that was approved by the FTC for public comment, Hertz is required to divest its Advantage business, selected airport […] [Read More]

RANCHO SANTA FE, Calif. — White River Capital and its wholly-owned subsidiary Coastal Credit — a specialized auto finance company founded back in 1987 — are being merged with a California-based private equity firm. Officials announced this week that Boston-based White River and Parthenon Capital Partners out of San Francisco signed a definitive merger agreement. […] [Read More]

FORT WORTH, Texas — For the second time since just after Labor Day Weekend, General Motors Financial announced the pricing of an offering of automobile receivables-backed securities. This week, GM Financial announced the pricing of a $1.0 billion offering through lead managers Barclays, Credit Suisse, J.P. Morgan and Morgan Stanley. The co-managers are Citigroup; Goldman, […] [Read More]

SAN FRANCISCO — Buy-here, pay-here dealership chain DriveTime recently chose Duncan/Channon to lead its advertising efforts. DriveTime said its new agency will create and execute a new campaign, including TV and radio, that's expected to launch early next year. Company officials indicated they arrived at their choice of Duncan/Channon following a comprehensive search process managed […] [Read More]

TORONTO — TransUnion's quarterly analysis of Canadian credit trends showed that the average consumer's total debt — excluding mortgages — increased at its greatest rate in nearly two years, sparked in part by a climb in auto loan commitments. The overall average jumped 4.6 percent during the third quarter to $26,768. TransUnion determined Canada experienced […] [Read More]

TransUnion’s quarterly analysis of Canadian credit trends showed that the average consumer’s total debt — excluding mortgages — increased at its greatest rate in nearly two years, sparked in part by a climb in auto loan commitments. The overall average jumped 4.6 percent during the third quarter to $26,768. TransUnion determined Canada experienced both its […] [Read More]

The October ADESA Canada Used Vehicle Price Index ticked higher after being adjusted for seasonality, reversing the majority of September’s decline. ADESA’s data — powered by ALG Canada — indicated wholesale prices rose on average by about 1.0 percent month-over-month. While the overall reading inched higher, ADESA found price movements by segment were mostly lower […] [Read More]

Although he has seen a drop in the supply of off-lease units — often the bread-and-butter of the certified pre-owned-eligible pool — Audi Canada’s Jonathan Breton has noticed that his brand’s year-to-date CPO sales have still managed to climb nearly 3 percent over the same period of 2011.   “Supply continues to be a challenge, but […] [Read More]

Even with a substantial interruption from Hurricane Sandy, used retail sales still climbed more than 4 percent year-over-year in October, according to CNW Research. And when only considering sales from dealers — taking private-party numbers out of the equation — the upswing is much higher. In fact, CNW found that franchised dealers and independent dealers […] [Read More]

When asked by the moderator what she thought had changed the most in the wholesale world since she began leading Ford’s remarketing business, Linda Silverstein pointed to the Internet. In fact, she admitted that a decade or so ago, she wasn’t so sure this online auction environment would maintain traction. [Read More]