Financial

Automotive Resources International has rolled a new flexible closed-end leasing program that it says it geared toward executive fleets, organizations in the process of stopping a vehicle-reimbursement program and companies that want to trim their chances of unexpected lease costs. [Read More]

The National Automobile Dealers Association described a recent decision by the Internal Revenue Service as a “major victory for car and truck dealers.” NADA shared Wednesday that the IRS has created uniform capitalization safe harbor methods of accounting. The association thinks these methods should favorably resolve several contentious and potentially costly income tax issues that […] [Read More]

GE Capital Fleet Services totaled up the cost savings the company created for its customers during the third quarter. Utilizing five main strategies, officials said total customer savings came in at $63.3 million. Through the first nine months of 2010, GE Capital Fleet Services contends it has helped its clients save $225 million. Officials discovered […] [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]

As consumers, cell phone users, computer owners, Internet shoppers, online bankers and increasingly voracious consumers of all types of content, most people benefit from some form of electronic data interchange on a daily basis. We are literally surrounded with technology that allows us to exchange important data about our lives in a very routine manner. […] [Read More]

Chrysler revealed its November incentives this week, sharing the promotions that its dealer body can use this month to attract customers and spur sales. The automaker broke it down by division, beginning with its Ram Truck brand. Ram Truck [Read More]

With volumes increasing and cost-containment measures proving to be beneficial, Avis Budget Group showed a double-digit spike in net income for the third quarter. Specifically, Avis Budget’s net income improved 58 percent year-over-year to $90 million. When restructuring and transaction-related costs are taken out of the equation, adjusted EBITDA came in at $219 million, up […] [Read More]

Hertz Global Holdings extended its string of quarterly increases in adjusted pre-tax income to five in a row during the third quarter. Company executives said Wednesday that their third quarter adjusted pre-tax income totaled $253.6 million. That amount constituted increase of $58.3 million or 29.9 percent from the income level the company generated in the […] [Read More]

On Wednesday General Motors officially commenced its initial public offering in the amount of $13 billion. Rumors and speculation flew all week as to whether the move would come and just how much the IPO would be. Turns out, the company kicked off its IPO just at about the time it announced its preliminary third-quarter […] [Read More]

Dollar Thrifty Automotive Group’s corporate adjusted EBITDA showed double-digit improvement for the seventh straight time during third quarter, which marked what the company’s chief executive officer called the “best quarterly performance” that Dollar Thrifty has ever had. [Read More]