As Hertz Global Holdings announced it extended the expiration date of its exchange offer for the company, Dollar Thrifty Automotive Group reported a slight uptick in second-quarter net income. DTAG officials computed that their second-quarter net income settled at $42.5 million or $1.36 per diluted share. In the year-ago period, the level was $42.3 million […] [Read More]

With short-term leases still going strong on LeaseTrader.com, site officials also noticed when reviewing their July trends that Toyota and Lexus lease buyouts appear to be easing. LeaseTrader.com explained that Toyota and Lexus — still bouncing back from production and inventory issues stemming from March production setbacks — saw continued lease buyout activity from lease […] [Read More]

With topics ranging from how the service department can maximize gross potential to how to harness mobile tools best, August is a busy month for Webinars orchestrated through NADA University. The training arm of the National Automobiles Dealers Association has a total of five Webinars this month, with three upcoming and two others that can […] [Read More]

LAKE SUCCESS, N.Y. — Also prompting a raise in annual estimates, DealerTrack Holdings saw significant gains both in the second quarter and through the first six months of 2011 in net income, revenue and more. Beginning with a look at second-quarter figures, the company calculated its revenue came in at $89.0 million as compared to […] [Read More]

WASHINGTON, D.C. — The American Financial Services Association recently announced that TD Auto Finance is its newest member. The company was formed when TD Bank Group purchased Chrysler Financial in April, combining its existing auto lending business with Chrysler Financial under a new North American auto lending brand — TD Auto Finance. TD Auto Finance provides […] [Read More]

WASHINGTON, D.C. — While the Federal Reserve didn't have any update on averages for new-vehicle loans by finance companies, officials noticed non-revolving credit increasing at a rate not seen since February. Looking at June data, the Fed discovered this credit increased at a rate of 7.5 percent. The last time it was that high was […] [Read More]

IRVINE, Calif. — Consumer Portfolio Services announced Monday that it has entered into an agreement with Fireside Bank to purchase a $237 million portfolio of performing automobile receivables. Fireside Bank is a wholly owned subsidiary of Unitrin Inc.  A subsidiary of CPS is to acquire and hold the receivables. The closing of the transaction, which is subject […] [Read More]

The M. Davis Co. recently rolled out another division to augment USA Recovery Solutions, Skip Masters and USA Transport Solutions. Officials described USA Remarketing Service as a full and complete national auctioneering service that includes flat fees, exclusive services, onsite representation as well as physical and online sales with no storage fees for USA Recovery […] [Read More]

Beyond discussion about new bylaws and the organization’s second-ever industry scorecard, leaders of the American Recovery Association are most excited about the potential for one of the highest-attended annual conventions ever. ARA is assembling starting on Aug. 17 for a four-day event at the Westin Jersey City Newport Hotel in Jersey City, N.J. “I think […] [Read More]

ADESA Great Lakes is set to make its debut Tuesday with a grand opening event to usher in the new era for this Michigan RV/marine/powersports auction. ADESA Great Lakes — previously known as Great Lakes Auction — will continue to be a dealer-only auction, offering in-the-lane, simulcast and electronic proxy bidding. Officials noted that the […] [Read More]