Avis Budget Group revealed late last week that its Avis Budget Rental Car Funding subsidiary completed an offering of $650 million of asset-backed bonds with a weighted average interest rate of 3.5 percent. Officials said the proceeds of the offering are expected to be used to refinance ABS debt maturing in 2012. The debt has […] [Read More]

A week after announcing plans for the Atlanta leg of its baseball-themed community outreach, AutoTrader.com revealed that it is taking its hunger eradication efforts to Chicago, where it will work with dealers in the region as well some of the city’s baseball stars. [Read More]

Nissan Americas recently appointed a senior manager for corporate social responsibility to head up the company’s outreach efforts. Named to the position is Vicki Smith, who has been with Nissan since 1986. As CSR senior manager, Smith is called to lead all of Nissan Americas’ philanthropic and community programs. This includes heading up things like […] [Read More]

Used-car prices in Canada jumped more than 2 percent sequentially during July as all but one volume segment moved ahead month-over-month, according to the latest RVI Market Update. Moreover, Canadian wholesale prices held steady at the same year-over-year increase seen the previous month, RVI indicated. Specifically, the RVI Used Car Price Index for Canada came in […] [Read More]

In choosing the color for their car, Canadian consumers tend to stick to so-called “traditional” hues, according to a study commissioned by Ford of Canada. In fact, the overwhelmingly most popular vehicle color in the country is silver/gray, which was the chosen color for 22.3 percent of respondents in the study, which was conducted by […] [Read More]

In light of the provincial election coming up in Ontario, the Toronto Automobile Dealers Association is taking action to halt what it believes has been a “war on cars” and is imploring the political parties to put the traffic issue at the forefront of the election. [Read More]

While the projections for August car sales differ from analyst to analyst, a common theme is brewing in their forecasts: the new-vehicle market — though still climbing — can’t seem to reach its full potential as downward economic and industry factors are limiting the auto recovery. Whether the main culprit is the topsy-turvy stock market, […] [Read More]

Dealer.com revealed Thursday that venture capital and growth equity firm Accel Partners — which invested early in the game in Facebook, Groupon and Rovio/Angry — has now invested in the Vermont-based online auto marketing provider. Accel now has a minority ownership stake in Dealer.com, and partner Todd MacLean is set to come aboard Dealer.com’s board […] [Read More]

Based on the premise that access to real-time data is critical to remarketing customers, BMW Group Financial Services recently partnered with Manheim on the development of data solutions offered through the iPad. Company officials said this technology can give BMW Group Financial Services’ auction representatives instant availability to pricing data across any location before, during […] [Read More]

On the heels of Ford and Toyota announcing they will be teaming up expand hybrid vehicle technology, General Motors revealed Thursday that it will be working with electronics giant LG to bring more electric GM models to market. The deal signed Wednesday broadens the existing relationship between the companies. LG currently provides the battery cells […] [Read More]