Edmunds.com recently conducted its own testing of electric vehicles to mimic a condition consumers might feel called “range anxiety.” The site described the situation as the fear some drivers supposedly have about driving an electric vehicle and ending up stranded with a dead battery. Analysts wanted to know what this condition could mean as more […] [Read More]

Toyota Motor Sales USA believes a new campaign launched on Monday should spark consumer participation since it’s centered on what the company contends it has been doing for many years — repurposing its innovative automotive technology to benefit society in the non-automotive space. The campaign dubbed “Ideas for Good” is inviting consumers to share their […] [Read More]

General Motors said late last week that it has appointed a U.S. vice president of diversity. Named to the position was Eric Peterson, who will also keep his current role as director of industry dealer affairs. [Read More]

Insurance Auto Auctions revealed Monday that it has opened a new facility that is adjacent to the San Diego location of ADESA, a fellow KAR Auction Services subsidiary. The IAA San Diego brand is located on 35 acres and is two highway exits from the U.S.-Mexico border. “With our customers in mind, IAA will continue to […] [Read More]

Automotive Resources International recently promoted one of its executives to be business development manager of state and government fleets. Accepting this position was Cheryl Graham. ARI indicated Graham will act as the primary liaison between the various state agency clients and the operational departments within the company that provide state-specific maintenance, accidents, fuel and inventory […] [Read More]

NEW YORK — Fitch Ratings predicted this week that 2009 U.S. prime auto ABS loans should post lower-than-expected losses. As a result, the firm believes lenders are positioning themselves for continued positive rating performance as the broader economy slowly improves. Through the first three quarters of this year, Fitch expects cumulative net losses on 2009 auto […] [Read More]

AUSTIN, Texas — Innovative Funding Services responded to broadening expansion Tuesday by promoting one its executives to director of operations. Taking on the role at the financing company for lessors and fleet-management businesses is Robert Rohner. When IFS moved to its new location on Burnett Road in Austin, Texas, last year, management pointed out Rohner was […] [Read More]

DETROIT — On Monday, Ally Financial rolled out an exchange offer for its outstanding 8-percent Senior Guaranteed Notes due 2020.   Back in March, the company had initially issued a principal amount of these old notes totaling $1.9 billion in two private offerings. These notes form a single series, officials explained. Ally conducted the private offerings […] [Read More]

LAKE SUCCESS, N.Y. — With revenue gains on both the transaction and subscription sides of the company's operations, DealerTrack saw its total revenue improve more than 7 percent during the third quarter. Moreover, it enjoyed GAAP net income of $1.2 million after reporting a loss in the year-ago period. The company's GAAP net income was […] [Read More]

Three members of the ServNet Auction Group have purchased additional auction locations, and one of these facilities will mark its debut sale later this week. Wade Walker and his family, who owns Sparkling City Auto Auction of Corpus Christi, Texas, are hosting the inaugural sale at Sparkling City Auto Auction of San Antonio on Wednesday. [Read More]