On the heels of declaring it is no longer up for sale, Dollar Thrifty Automotive Group announced Wednesday that its subsidiary Rental Car Finance Corp. completed the private placement of $400 million of Series 2011-2 asset backed medium-term notes.  [Read More]

CARY, N.C. — Some of the repossession and recovery industries' top executives will offer their insights and best practices for the industry during the brand-new, half-day Re3 Conference, which will take place Nov. 16 in Las Vegas. The Re3 Conference will include presentations from and discussions with: —Kevin Camping, owner, Camping Companies —Michael Eusebio, owner, […] [Read More]

CINCINNATI — Security National Automotive Acceptance Corp. announced this week it closed on the sale of the company and its TriStar insurance affiliates to a group of private investors. The existing senior management team, headed by president and chief executive officer Brian McDonald will continue to lead the company under its new ownership. In other […] [Read More]

FORT WORTH, Texas — General Motors Financial revealed Wednesday the pricing of a $900 million offering of automobile receivables-backed securities. The weighted average coupon on the notes to be paid by GM Financial is 2.9 percent. Moreover, the 2011-5 transaction will have initial credit enhancement of 7.75 percent, consisting of a 2.00 percent cash deposit […] [Read More]

CHICAGO — Buy-here, pay-here dealership chain CarHop revealed Wednesday that Chicago-area car shoppers will have another dealership to choose from. The company opened its fourth Chicago-area store yesterday, located at 6039 North Western Avenue; an area which the company asserts sees a high level of commuting activity. The company hopes the store will give locals […] [Read More]

As domestics increased their share of consumer interest and sales during the third quarter — while imports saw consumer interest fall — one particular Big 3 brand moved ahead of a Detroit rival to top the brand share rankings on NADAguides.com. Reaching the No. 1 spot on the site during the period was Chevrolet, which […] [Read More]

In a period that saw the dealership group’s same-store used- and new-vehicle sales climb double-digits, Lithia Motors enjoyed nearly a 70-percent spike in income from continuing operations during the third quarter, the retailer reported Wednesday. Specifically, Lithia posted income from continuing operations of $16.3 million, up from $9.6 million a year ago. Quarterly revenues from […] [Read More]

A study that came out today from Gfk Automotive revealed that dealers and OEMs might have a hard time fostering brand loyalty among the younger generations. The Gfk Automotive Intentions and Purchases Study — which monitors consumer demand for vehicles — showed that car buyers from the X and Y generations may be more concerned […] [Read More]

Asbury Automotive Group established another record used-to-new sales ratio during the third quarter, when the group saw its used-vehicle retail revenues shoot up 19 percent, including 14 percent from same-store results. Asbury reported adjusted income of $14.3 million Wednesday, or 44 cents per diluted share. In the same quarter a year earlier, the company’s adjusted […] [Read More]

Earlier this week, Motor Trend revealed its 2012 SUV of the Year, culminating 10 days of introductions for each of the contenders vying for this year’s honor. The winning model was the Land Rover Range Rover Evoque. Motor Trend believes the all-new Evoque is a radical departure from Land Rover’s more traditional offerings. Offered in both […] [Read More]