Late last week, KAR Auction Services revealed details of its debt refinancing effort that totaled nearly $2 billion. The company entered into a $1.7-billion, six-year senior secured term loan facility and a $250-million, five-year senior secured revolving credit facility with a syndicate of lenders. In addition to replacing the company’s prior senior secured credit facility, […] [Read More]

With automakers showing off their new offerings — which include all-new models as well as updated versions of existing rides — MSN Autos shared what it believes to be the 10 vehicles whose latest editions showed the most progress from their predecessors. [Read More]

Following Nissan’s recent cash donations to support disaster relief, the automaker announced that it will offer employee pricing and delayed finance payments to those who sustained vehicle damage or loss as a result of recent southeastern U.S. storms. The offer that comes on the heels of the automaker’s May 2, $115,000 donation to the American […] [Read More]

Subaru of America recently learned it received a pair of honors from its tongue-in-cheek “Mediocrity” campaign. The automaker won a 2011 Webby Award in the automotive category, plus the Gold 2010 International Automotive Advertising Award (IAAA). Officials explained how they played off of the “abundance of bland midsized sedans in the marketplace” to create its […] [Read More]

OPENLANE has rolled out a Canadian mobile site that will allow dealers to use their Apple iPhone/iPod touch and Google Android-based smartphones to tap into their accounts. And in celebration of the new site, there is a drawing for dealers to win an iPad 2. Dealers can visit the mobile site and log-in to enter […] [Read More]

In a case that has gone through several investigations, hearings, twists and turns, a British Columbia dealership has had its dealer license cancelled by the Registrar of Motor Dealers after authorities ruled the store had not only sold an unsafe vehicle, but also tried to cover up the fact that one of the store owners had previously been […] [Read More]

DealerTrack Canada has brought in another provider to its Credit Application Network, the company revealed this week. Joining the network is TransUnion. Now, DealerTrack Canada can offer its dealers TransUnion credit report solutions, providing these dealers with another industry credit management resource. “The addition of TransUnion to our network brings tremendous value to our dealers […] [Read More]

Plenty of positive accolades went to domestic OEMs as AutoPacific unveiled its 15th annual Vehicle Satisfaction Awards Thursday. Ford led all automakers with seven units being named award winners, while Lincoln took the distinction as having the highest rate of satisfaction among premium brands. Chrysler earned the nod for the highest satisfaction among popular brands. […] [Read More]

In light of the news this week that AutoTrader.com will purchase VinSolutions, vAuto founder Dale Pollak — whose company was also purchased by AutoTrader recently — stressed a message of reassurance in his blog on Thursday, emphasizing that the goal of an acquisition like this is to ultimately help dealers. He said the industry must “understand that AutoTrader […] [Read More]

As the battle to acquire Dollar Thrifty Automotive Group continues, the rental company took action this week to safeguard the interests of its shareholders. Dollar Thrifty’s board of directors installed a Shareholders Rights Plan that gives shareholders the right to buy a series of preferred stock under special circumstances, which basically helps to prevent a […] [Read More]