Just before departing for Labor Day weekend, Hertz Global Holdings announced it completed the acquisition of Donlen. Officials recapped the acquisition was funded by $177 million in cash proceeds from Hertz and the assumption of $770 million in Donlen fleet debt. The companies stressed Donlen provides Hertz an immediate leadership position in long-term car, truck […] [Read More]

Limited by such factors as the continued challenges from the Japanese earthquake, low consumer confidence and Hurricane Irene hitting the East Coast, import automakers’ new-vehicle sales were essentially static in August, according to the American International Automobile Dealers Association. Despite last month’s flatness, however, AIADA remains confident September will tell a different story for import […] [Read More]

With also gauging how much Hurricane Irene effected the numbers, the chief economist of the National Automobile Dealers Association attributed August’s new-vehicle sales performance to one factor — inventory levels. Paul Taylor believes the amount of vehicles on franchised lots not only swayed last month’s sales, but also likely will be the dominating factor as […] [Read More]

Bob Lutz is back at General Motors. The automaker revealed prior to Labor Day weekend that the auto legend and the OEM’s former vice chairman is going to provide counsel to the senior leadership team of the company GM indicated Lutz will be available to executives on a part-time consultancy basis effective immediately. The company […] [Read More]

Late last week, Vehix released what it considers to be the top used vehicles for teenage drivers that are not only affordable, but are top-notch in terms of safety and reliability. The “8 Great Used Cars for under $10,000 for Teenagers” features only vehicles that met the numerous requirements from Vehix, which included a minimum […] [Read More]

VIENNA, Va. — Prompted by strong growth during the past few months of vehicle loans with similar rates, Navy Federal Credit Union recently lowered its 36-month new auto loan rate to an APR as low as 1.79 percent. Navy Federal indicated that strong auto lending growth during the past several months was driven by its […] [Read More]

CLEARWATER, Fla. — With eyes on more expansion projects, Nicholas Financial recently revealed it executed an amendment to its bank credit line that increases the size of the credit line from $140 million to $150 million and extends the maturity date to Nov. 30, 2013. The company indicated all other terms and conditions of its […] [Read More]

FARMINGTON HILLS, Mich. — Though the recovery has been stalling and the U.S. credit downgrade from Standard's & Poor's certainly didn't help,  all four major lender platforms — RouteOne, DealerTrack, Wolter Kluwer's AppOne and Finance Express — report to SubPrime Auto Finance News they are seeing application volumes climb. And this bodes well for the […] [Read More]

ALEXANDRIA, Va. — Continuing a trend seen throughout the year, the American Bankruptcy Institute discovered the amount August consumer bankruptcy filings dipped both year-over-year and month-over-month. Relying on data from the National Bankruptcy Research Center, ABI determined August consumer bankruptcies decreased 11 percent nationwide from the same month a year ago. The data showed that […] [Read More]

On Thursday, shipments of new Chevrolet Volts began rolling out to Canadian dealers, who were set to deliver these extended-range electric vehicles to customers. The Volt is currently available in Vancouver, Victoria, Toronto, Oshawa, Ottawa-Gatineau, Montreal and Quebec City. Customers in the select markets could begin ordering Volts on May 2. General Motors of Canada […] [Read More]