KAR Auction Raises $340.9 Million through IPO, Less than Hoped
KAR Auction Services Inc. made its trading debut Dec. 11, 2009, despite making less than expected through its IPO in what was to be used to shrink the company's heavy debt load.
KAR Auction Services Inc. made its trading debut Dec. 11, 2009, despite making less than expected through its IPO in what was to be used to shrink the company's heavy debt load.
Lower new-car sales in 2008, along with fewer trade-ins, off-lease vehicles, and rental fleet vehicles last year contribute to a shortage in used vehicles.
According to Kelley Blue Book, in 2009, the average vehicle maintained 34.2 percent of its original value after five years in contrast to 2010 models, which are projected to maintain an average of 32.6 percent of their original MSRP.
The city doesn't allow commercial activity in residential neighborhoods, but the new rule allows Zipcar vehicles to park in lots and alleyways.
Storm in New York causes shortage of cars for Hertz.
Sales of small- and medium-sized business fleets have improved since May, while government fleet volume is expected to improve in the coming quarter, CNW Market Research says.
In a letter to dealers, GM said it would offer $7,000 for every new Saturn or Pontiac sold to dealers and then moved to rental-vehicle or service-vehicle fleets.
With the limited supply of used vehicles, shoppers can save as much as $8,460 by purchasing a new car instead of a used version of the same vehicle.
Combined retail and fleet volume is expected to hit 1.02 million units, up from December 2008.
AutoPacific forecasts industry volume of 11.4 million units in 2010, and 15.4 million in 2015, a far cry from the near-17 million unit years achieved in the past decade.
The technology solutions provider will be based in Carrollton, Texas.
U Haul's car sharing program is available in eight other states.
Forty percent of DTG's vehicles are rated over 30 mpg.
Year-over-year increase in Christmas/New Year travel is another sign consumers are more willing to spend on leisure activities
The Wisconsin fee to help support a rail project could come up for a vote again next month, however.
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