November 2020

CHICAGO –  Stating it will help its members gain trust in any transaction completed through its platform, online vehicle maintenance and repair marketplace CarAdvise has launched a 12-month/12,000-mile warranty. The warranty is an addition to the company’s “Happiness Guarantee.” Called “12month/12k,” the program will guarantee complete satisfaction with all materials and workmanship on all CarAdvise transactions across its network of more than 23,000 maintenance facilities. CarAdvise says its platform’s users can compare prices for maintenance services at thousands of North American shops. Consumers and commercial fleets receive upfront discounted pricing when… Read More »CarAdvise offers new warranty to overcome the ‘hurdle’ of trust

ST. LOUIS –  A new Enterprise Holdings initiative will address three social and racial equity gaps that the company says need urgent attention: early childhood development, youth health and wellness, and career and college preparation. Through the Enterprise Holdings Foundation, Enterprise Holdings says it is boosting its focus on diversity, equity and inclusion. The company will do that through a new five-year, $55 million commitment to organizations that advance social and racial equity around the world. The company says the new initiative, Enterprise Holdings ROAD Forward, will increase respect, opportunity, achievement… Read More »Enterprise addresses hunger, diversity, social equity

WASHINGTON, D.C. –  The chair of the Federal Communications Commission plans to leave the regulator when the next president is inaugurated. On Monday, FCC chairman Ajit Pai announced that he intends to leave the agency on Jan. 20 after holding the chair position for the past four years following an appointment by President Trump. Pai first became an FCC commissioner back in 2012 when he was appointed by President Obama. “To be the first Asian-American to chair the FCC has been a particular privilege. As I often say: only in America,”… Read More »FCC chair to leave agency in January

HOFFMAN ESTATES, Ill., and SAN FRANCISCO –  CDK Global was part of the parade of merger and acquisition announcements to surface following Thanksgiving weekend. On Monday, the provider of dealer management systems and integrated information technology solutions to the automotive retailing and adjacent industries announced the execution of a definitive agreement to sell its CDK International business segment (CDKI) to Francisco Partners for $1.45 billion. Officials calculated the purchase price represents approximately 15 times CDKI’s adjusted EBITDA for the last 12 months, including expenses for the standalone business. CDK said it… Read More »Francisco Partners to pay $1.45B for CDK’s international business

ESTERO, Fla. and PEMBROKE, Bermuda –  A day before Thanksgiving, Hertz Global Holdings announced that it has entered into a stock and asset purchase agreement to sell substantially all of the assets of its wholly owned subsidiary, Donlen Corp. However, a bankruptcy court has to approve the deal that could be valued as much as $875 million. Should the deal go through, Donlen would be sold to Athene Holding, a leading financial services company, for an anticipated cash payment of $825 million subject to adjustments for fleet equity, working capital and… Read More »Hertz set to sell Donlen for at least $825M

CARY, N.C. –  J.D. Power has closed its purchase of ALG, a deal first announced in August. The company said in a news release Monday that acquisition of the TrueCar subsidary “will dramatically broaden its vision of automotive residual value forecasting, especially important as the industry prepares to launch a wave of new electric vehicle (EV) models and pushes toward increased vehicle automation and other emerging technologies.” In a separate release, TrueCar said the $135 million consideration in the deal includes $112.5 million received at closing and up to $22.5 million… Read More »J.D. Power closes purchase of ALG

DETROIT and ORLANDO, Fla. –  AAA projected a decline of at least 10% in travel for Thanksgiving — the largest one-year decrease since the Great Recession in 2008. For individuals who did go somewhere to see family and friends for the holiday, AAA Travel senior vice president Paula Twidale said the majority went by car, “which provides the flexibility to modify holiday travel plans up until the day of departure.” Thanksgiving reinforced findings from a new survey from Ally Financial about how cars and personal transportation are more essential to people’s… Read More »Latest Ally survey reinforces how owners value vehicles nowadays

ST. LOUIS –  Enterprise Holdings is enhancing its cleaning procedures through a new initiative with Clorox. Enterprise says the collaboration reinforces its Complete Clean Pledge, which the company implemented to help customers feel confident as they begin to travel again. Enterprise Holdings’ Complete Clean Pledge is a commitment to health and safety practices throughout all of its operations. That includes vehicles, branches, shuttles and employees and customers. The company will kick off the initiative by providing what it describes as an industry-first in car rental: a one-count Clorox Disinfecting Wipe in… Read More »Enterprise cleaning initiative features Clorox Disinfecting Wipes

CARY, N.C. –  In the “about” section of its website, Orbee Auto describes itself as a company that is “on a mission to streamline and automate automotive dealership digital marketing.” Atul Patel, who is Orbee’s co-founder and chief operating officer, joins the Auto Remarketing Podcast to discuss the inspiration behind the company, its efforts with industry associations to help train dealers and the next steps Orbee plans to take. To listen to the entire conversation, click on the link available below, or visit the Auto Remarketing Podcast page.  Download and subscribe to the Auto Remarketing Podcast… Read More »PODCAST: Orbee Auto co-founder Atul Patel

DALLAS –  Sarah Ruzicka is the new general manager at the West Michigan auction location of America’s Auto Auction. Ruzicka has been with West Michigan Auto Auction since 2011, and Carl Miskotten owned the auction at the time. In becoming general manager, Ruzicka follows Miskotten, who purchased the facility in 1997. Miskotten sold the auction to America’s Auto Auction 2017, and stayed on as general manager. Miskotten will continue with the company in an advisory position at West Michigan and as general manager at America’s Auto Auction Interstate 94 in Parma,… Read More »New general manager for America’s Auto Auction West Michigan