KAR Auction Services made a pair of announcements Thursday regarding its cash tender offer for notes as well as the maximum aggregate principal amount of notes to be purchased. One notice revealed preliminary results of its previously announced cash tender offer made pursuant to the terms of an offer to purchase dated Nov. 12. That […] [Read More]

Chrysler rolled out a new package of incentives for several 2010 and 2011 models that are valid through Jan. 3. Consumers purchasing the 2010 Chrysler Town & Country or the 2010 Dodge Grand Caravan minivans are eligible for zero percent financing for 72 months or up to $2,000 in Owner Loyalty cash. The automaker pointed out […] [Read More]

Thanks to an exclusive agreement entered with Japan’s Arai Auto Auctions, Manheim ExportTrader.com’s buying and shipping services will be provided to the auctions’ dealer customers throughout the world. Moreover, North American vehicle sellers will have a broader base of buyers with which to work. In fact, with the Arai Auctions’ dealers added to the mix, there will […] [Read More]

Dealers are enjoying more robust results throughout much of the country, according to the latest Beige Book report from the Federal Reserve. The Fed reported that nine of the 12 districts showed improvement in auto sales. Moreover, three of those districts (Philadelphia, St. Louis and Kansas City) are projected to see this growth remain for […] [Read More]

Edmunds.com reported Wednesday that automakers spent marginally more on November incentives than they did during the previous month, but the average wasn’t nearly as much as what the manufacturers handed out a year ago. Site analysts discovered Wednesday that the average incentive in the U.S. was $2,470 per vehicle sold in November. They said that amount was […] [Read More]

The federal judge in Santa Ana, Calif., who is presiding over the class action lawsuits against Toyota has made a final decision regarding the automaker’s call to have the case involving claims of vehicle-value erosion due to unintended acceleration dismissed. [Read More]

The rising demand for used vehicles evidently isn’t restricted to private passenger units. Polk recently discovered the amount of used commercial vehicle registrations has hit a new record through the first nine months of the year. Firm analysts revealed Wednesday that the amount of used commercial vehicle (GVW Class 3-8) registrations totaled 524,500 units during […] [Read More]

The AuctionACCESS dealer registration system from AutoTec is now featured at each one of Manheim’s Total Resource Auctions, AutoTec revealed this week. “This will immediately provide access to thousands of new buyers at our salvage-centric locations,” shared vice president and general manager of Total Resource Auctions Bill Tiedemann. [Read More]

As Porsche reported its November sales figures, the automaker also announced it surpassed a new threshold of fans on its official Facebook page. Porsche says it now has more than 1 million Facebook fans worldwide. Company officials mentioned they have special plans for their 1 million devotees on Facebook. As part of a continued celebration, […] [Read More]

The Detroit Auto Dealers Association revealed its new slate of officers for 2010-2011. DADA executive vice president Rod Alberts announced the newly elected officers are: —James Seavitt, president. —Robert Shuman, vice president. —Scott LaRiche, treasurer-secretary. The election came during organization’s annual member meeting this week. President James Seavitt Seavitt currently is president of Village Ford […] [Read More]