Hertz Global Holdings and Donlen Corp. this morning announced they have signed a definitive agreement for Hertz to acquire Donlen. The transaction has been approved by the boards of directors of both companies and by the stockholders of Donlen. The transaction is expected to be completed in the third quarter of 2011, subject to the […] [Read More]

A Lehman Brothers Holdings business unit reportedly filed a complaint in federal bankruptcy court in Manhattan alleging that AmeriCredit undervalued termination payments for interest rate swap agreements related to auto-loan securitizations. Bloomberg reported that Lehman Brothers Special Financing entered into swap agreements with trusts sponsored in 2005 and 2007 by AmeriCredit that issued $3.85 billion […] [Read More]

Auto Remarketing Conferences recently announced that registration is open for Used Car Week, featuring the Certified Pre-Owned Dealer Conference, the National Remarketing Conference and the all-new Re3 (pronounced “ree-three”) Conference. All three events will take place at the Red Rock Casino Resort and Spa in Las Vegas, over the course of one week, Nov. 14-18. [Read More]

TrueCar.com rolled out its monthly Performance Scorecards for manufacturers and brands, and a domestic took the top honors for June. Site analysts determined the top manufacturer on the June scorecards was General Motors, followed by Porsche and Hyundai. Near the bottom of the list were Saab and Mazda. TrueCar.com also revealed brands that received the […] [Read More]

Just three days after Hertz Global Holdings pushed back the deadline of its latest offer to acquire Dollar Thrifty Automotive Group, the proposed Hertz-Dollar Thrifty merger took a major step forward late last week. Hertz revealed that it gave federal antitrust authorities the premerger notification required by the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as […] [Read More]

Last Friday, SoCal Penske added another nameplate to its stable of franchise dealerships, unveiling Penske Chevrolet of Buena Park. The new dealership is located in the Buena Park Auto Center in Buena Park, Calif. SoCal Penske explained it was awarded the Chevrolet franchise to fill an open market for Chevrolet in Buena Park. Executives emphasized […] [Read More]

Last week marked the launch of AutoBuying 101, and the site also revealed the results from its Auto Buying Experience Study that covered the "best" and "worst" aspects of buying a car, among other areas. The site aims to be the “essential consumer guide on how to get the best deal on new- and used-auto […] [Read More]

American Suzuki Motor Corp. wants to generate some feedback from customers about its lineup and learn more about what consumers like and how the automaker can improve. So, it is turning to Facebook. There is now a vehicle ratings feature on the company’s Facebook page where Suzuki fans can rate models in the lineup on […] [Read More]

Though auction prices in Canada dipped again in June, the decline slowed down a bit, and it appears that the economic outlook in the country could be getting better, according to the latest ADESA Canada Used Vehicle Price Index report. Specifically, ADESA’s data — powered by ALG Canada — indicated that the index was down […] [Read More]

Although wholesale prices for three of the four vehicle segments OPENLANE tracks slid down in June, the Canadian Market Index still ticked higher. OPENLANE said its June Canadian Index settled at 98, which was 1 percentage point higher than May and 5 percentage points higher than the same month a year ago. The Canadian Index […] [Read More]