By connecting auto rental companies direct to carriers, load boards allow companies to compare vehicle shipping rates and put out bids to get the best price in relocating their vehicles.
Auto Rental News Full Story

Photo from ©iStockphoto.com/ Joe_Potato

News Release Issued: March 11, 2011 8:00 AM EST

DETROIT (March 11, 2011) – SmartAuction, Ally Financial’s online used vehicle auction, received the 2010 “Best Performance – eChannel” award from Avis Budget Group. The award was announced at the 2011 Conference of Automotive Remarketing (CAR).

According to Greg Thibault, Avis Budget Group’s vice president of Fleet Disposal, SmartAuction helped Avis Budget Group remarket more vehicles from its fleet than any other online auction company in 2010 and had consistently high performance levels within several key measurement statistics.

”Avis Budget Group relies on all of its remarketing service providers to meet or exceed certain performance metrics each year, and Smart Auction delivered exceptional results for us in 2010.”

Mark Newman, SmartAuction managing director, said the company’s strategy to provide a wide range of high-quality used vehicles to dealers creates an attractive platform for consignors, including rental car companies. With an average 13,500 vehicles posted on the site daily representing 40 different makes, dealers have a broad array of products to review and purchase to help stock their used vehicle lots.

“Highly engaged consignors like Avis Budget Group have found they are able to efficiently market their inventory with tools like SmartAuction because of the quality of the dealer community it draws,” said Newman. “We appreciate the recognition of our efforts as a leading auction channel and look forward to helping Avis Budget Group and other SmartAuction users continue to match the right vehicle with the right customer.”

About SmartAuction
Launched in 2000, more than 3.5 million vehicles have been sold through SmartAuction since its inception. In 2010, approximately 412,000 units were sold in the United States on SmartAuction. Approximately 104,000 units, or more than 25 percent of its volume, came from dealers, leading consignors of rental, repossession, and independent auction inventory. For more information about SmartAuction visit www.smartauction.biz.

About Ally Financial Inc.
Ally Financial Inc. (formerly GMAC Inc.) is one of the world's largest automotive financial services companies. The company offers a full suite of automotive financing products and services in key markets around the world. Ally's other business units include mortgage operations and commercial finance, and the company's subsidiary, Ally Bank, offers online retail banking products. With more than $172 billion in assets as of Dec. 31, 2010, Ally operates as a bank holding company. For more information, visit the Ally media site at http://media.ally.com.


Contact:

Tony Sapienza
Tony.sapienza@ally.com
313-656-5005

Zipcar memberships will help remove city vehicles, reduce costs and further Mayor Bloomberg's sustainability agenda

NEW YORK, Oct. 12 /PRNewswire/ -- Zipcar, Inc., today joined Mayor Michael R. Bloomberg to announce a partnership with the City of New York to provide car sharing memberships to Department of Transportation (DOT) employees as a part of a pilot program.

Zipcar's partnership with the DOT will also help support Mayor Bloomberg's efforts to make City government operations more efficient and more sustainable, and represents an important achievement for the growth of car sharing, by creating a smarter, more efficient transportation solution for city government and charting a direction for the future of urban development.

"Earlier this year, we announced a large-scale effort to make City government smaller, smarter, and more sustainable – both environmentally and fiscally," said Mayor Bloomberg. "An important component of that effort is looking at City-owned cars. A car share program could help reduce the number of cars we use, cut our costs, free up parking on our streets and reduce the congestion on our streets and the pollution in our air. It's another example of how we are constantly working on new ways to deliver better services at a lower cost to the taxpayer and to the environment."

"Car sharing is an innovative way to do more with less and address the City's environmental and fleet-reduction goals," said Commissioner Sadik-Khan. "This strategy helps meet those goals while opening up curbside parking, and by letting the public use the same cars that we use, it helps stimulate the Lower Manhattan car share market."

"It is becoming more evident that the 'one car, one driver' model is broken. Individuals, businesses and municipalities are pursuing transportation options, such as Zipcar, that will reduce the need for cars in the city and alleviate traffic, parking and pollution concerns," said Mark Norman, president and COO of Zipcar. "We applaud the City's commitment to find more efficient transportation solutions that will positively impact the economy, the environment and the future of urban development."

Zipcar was selected as New York's first and only car sharing provider through a competitive bid process. The initial contract will serve DOT employees exclusively, supporting its Sustainable Streets program, with the potential to expand to other agencies if the program performs as expected.

About Zipcar
Zipcar operates in urban areas and college campuses throughout the United States, Canada and the United Kingdom. Zipcar offers more than 30 makes and models of self-service vehicles by the hour or day to residents and businesses looking for an alternative to the high costs and hassles of owning a car.

Zipcar and the Zipcar logo are trademarks of Zipcar, Inc. Other company and product names may be trademarks of their respective owners.

SOURCE Zipcar

PARSIPPANY, N.J. and TULSA, OKLA., 10-05-2010 — Avis Budget Group, Inc. (NYSE: CAR) and Dollar Thrifty Automotive Group, Inc. (NYSE: DTG) today released the following joint statement:

Following the termination of Dollar Thrifty's merger agreement with Hertz Global Holdings, Inc. (NYSE: HTZ), Dollar Thrifty and Avis Budget have agreed to cooperate with respect to Avis Budget's efforts to pursue antitrust clearance of the proposed acquisition by Avis Budget of Dollar Thrifty.

Avis Budget reaffirmed its commitment to diligently pursue antitrust clearance, as well as its commitment to continue to pursue an acquisition of Dollar Thrifty on the previously announced terms. However, Dollar Thrifty has requested that Avis Budget not commence an exchange offer at this time, as the parties work cooperatively with the antitrust authorities, and Avis Budget has agreed to defer doing so.

There can be no assurance on the timing or outcome of the efforts to secure antitrust clearance for the proposed transaction, that any agreement with respect to a transaction will be reached, or as to the timing or terms thereof. Avis Budget and Dollar Thrifty do not intend to make further announcements with respect to this matter unless so required under applicable law. Citigroup and Morgan Stanley & Co. Incorporated are acting as financial advisors to Avis Budget Group, and Kirkland & Ellis LLP and Arnold & Porter LLP are acting as legal counsel. Dollar Thrifty is being advised by J.P. Morgan and Goldman, Sachs & Co. and the law firm of Cleary Gottlieb Steen & Hamilton LLP. News | Avis Budget Group

I don’t know you tell me



Cop and Robber VW Art Car Sculpture by LInda Bakke

Dollar Thrifty Automotive Group Inc. shareholders today rejected Hertz Global Holdings Inc.’s $1.46 billion takeover offer.

The vote, at a special shareholders meeting in Chicago, was 11.8 million shares for the Hertz offer compared with 13.8 million shares against it, according to Bloomberg News.

Hertz stated yesterday it would immediately terminate the merger agreement with Dollar Thrifty if shareholders voted against the proposal.

Avis Budget said yesterday if the Hertz deal does not go through it “will continue to actively pursue the acquisition of Dollar Thrifty, including commencing an exchange offer at our recent offer price no later than 10 business days after the meeting.”

Avis Budget said it “will continue to actively pursue antitrust clearance. As previously disclosed, Avis Budget has committed to sell assets representing $325 million of revenues (of which not more than $250 million are U.S.), demonstrating our commitment to attaining antitrust approval.”

Additionally, Avis Budget said it would add a $20 million breakup fee to its Dollar Thrifty merger deal if the proposal does not win regulatory approval.

Dollar Thrifty released this statement:

Dollar Thrifty Automotive Group, Inc. today announced that the Company did not obtain the requisite votes to execute its definitive merger agreement with Hertz Global Holdings, Inc. ("Hertz") at the special meeting of shareholders held today.

The final vote results, which were certified by IVS Associates, Inc., the inspector of election, totaled 11,811,154 votes for and 13,830,126 against, with 4,735 abstentions.

Scott Thompson, president and CEO of Dollar Thrifty Automotive Group, Inc., commented: "We respect the vote of our shareholders, and remain confident in our ability to continue to deliver outstanding value for them. The Dollar Thrifty board and management team are focused on building on our track record of superior operating performance to drive continued growth. We will evaluate all of our options going forward in order to maximize value for Dollar Thrifty shareholders."

Dollar Thrifty is being advised by J.P. Morgan and Goldman, Sachs & Co. and the law firm of Cleary Gottlieb Steen & Hamilton LLP.

Dollar Thrifty Automotive Group Inc. shareholders today rejected Hertz Global Holdings Inc.'s $1.46 billion takeover offer.

The vote, at a special shareholders meeting in Chicago, was 11.8 million shares for the Hertz offer compared with 13.8 million shares against it, according to Bloomberg News.

Hertz stated yesterday it would immediately terminate the merger agreement with Dollar Thrifty if shareholders voted against the proposal.

Avis Budget said yesterday if the Hertz deal does not go through it "will continue to actively pursue the acquisition of Dollar Thrifty, including commencing an exchange offer at our recent offer price no later than 10 business days after the meeting."

Avis Budget said it "will continue to actively pursue antitrust clearance. As previously disclosed, Avis Budget has committed to sell assets representing $325 million of revenues (of which not more than $250 million are U.S.), demonstrating our commitment to attaining antitrust approval."

Additionally, Avis Budget said it would add a $20 million breakup fee to its Dollar Thrifty merger deal if the proposal does not win regulatory approval.

Source - Auto Rental News

In regards to the Hertz merger, Dollar Thrifty takes issue with "Avis Budget's unwillingness to provide a reverse termination fee," which DTAG interprets as a "lack of confidence by Avis Budget in its position" in regards to its ability to remediate any competitive issues and antitrust risks.

Below is a link to the full text of the letter sent by Scott L. Thompson, Dollar Thrifty's President and Chief Executive Officer, to Ronald L. Nelson, Avis Budget's Chairman and Chief Executive Officer.

News - Auto Rental News

Launch Announcement: Jeffrey Cerefice of Dollar Thrifty to Deliver Keynote Address at 2010 Car Rental Show
— Auto Rental News and the American Car Rental Association (ACRA) announce that Jeffrey Cerefice of Dollar Thrifty Automotive Group (DTG) will deliver the keynote address at the 2010 Car Rental Show.