More positive news following General Motors’ highly successful initial public offering came out this week as the company announced a plan for full debt repayment by one of its subsidiaries. Officials revealed that GM Daewoo Auto & Technology will fully repay its Korean revolving credit facility this month. They indicated the facility had a drawn […] [Read More]

In the latest move in a whirlwind of purchases during the last few months, AutoTrader.com revealed Wednesday morning that it is buying HomeNet Automotive, a provider of online inventory management and merchandising solutions. The transaction is likely to close by year’s end, according to officials. AutoTrader.com plans to run HomeNet as an independent subsidiary. It will be headed up by […] [Read More]

Dollar Thrifty Automotive Group revealed this week that it has a new chairman. Replacing Thomas Capo in the position is Richard Neu. The change took effect immediately. In addition to stepping down from the chairman post, Capo also told the company he plans to retire from the board of directors. Capo — who has been a director […] [Read More]

The impending delivery of Chevrolet Volts to customers in key states prompted a pair of announcements by General Motors Tuesday. The automaker rolled out an auction promotion centered on the electric vehicle as well as the plan to hire more engineers and researchers to work on broadening technology associated with these units. The company explained […] [Read More]

While two domestic models and a foreign unit already have been tapped for Urban Vehicle of the Year awards, only the finalists for Dealer of the Year honors have been announced so far for the 15th annual Urban Wheel Awards. The trio of franchise dealers up for Dealer of the Year recognition includes Jessie Armstead, […] [Read More]

Close to 650,000 Toyota Prius models across the world will need to have their water pump repaired to fix a coolant issue, according to various news reports. Toyota Motor Sales USA spokesperson John Hanson told Auto Remarketing on Tuesday that approximately 378,000 Prius models are impacted in the U.S.  The model years of the affected […] [Read More]

On Friday, a free seminar under The Car Counselor’s TARP 2.0 Dealer Tech Series will be held at Columbus Fair Auto Auction in Ohio to help industry professionals prepare for the impact of developments in the federal government and more. [Read More]

The developments in electric-vehicle technology and the arrival of these cars to the market have grabbed headlines this year, but are consumers really gravitating toward these vehicles? According to a Kelly Blue Book Market Intelligence Study, not yet, apparently. The study found that just 7 percent of shoppers said they would be apt to put […] [Read More]

They’re probably in the back of your closet or bottom dresser drawer — those old, tattered jeans your spouse insists on discarding. But they are being put to good use by Ford. The automaker is using recycled cottons in the interior of the new 2012 Focus as part of carpet backing and sound absorption material. […] [Read More]

The underwriters in General Motors’ recent initial public offering have chosen to fully exercise their over-allotment options. This means the automaker’s IPO has now likely become one of the biggest in the world, bringing in more than $23 billion. The underwriters are purchasing 71.7 million shares of GM common stock and another 13 million shares of mandatory convertible […] [Read More]