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Charleston Auto Auction recently helped lend a hand to local children in need by hosting the second annual Crash For Cash Dealer Demolition Derby, which raised money for a pair of charitable organizations.
The event — which took place Oct. 14 — generated $6,000 for the Ronald McDonald House of Charleston and the Carolina Youth Development Center, officials said.
More than 2,000 people came out for the event, which included free food and drinks as well as “midway” section filled with vendors offering services to dealers. Among these were companies providing floor planning, warranties and vehicle recoveries.
There was also a “stress relief” sledge hammer that attendees could use to take a whack at a junked car for a donation. Moreover, the event featured a dunk tank, live music, and a clown who provided face-painting and balloon animals.
As far as the actual derby, the three heat winners received a combined $5,000. Phil Shappert of Automotive Remarketing Inc., who won one of the heats, gave his winnings to the charities.
“I had such a great time, and being able to donate my winnings back to these great charities just made it even better,” Shappert stated. “All I can say is Charleston Auto Auction really knows how to put on a promotion.”
In conjunction with the derby were two sales at the auction, as well. The sale on the evening Oct. 14 was a frontline-ready sale of late-model units. Then on Oct. 15, the auction included more than 1,300 vehicles in a “mega sale” that attracted more than 600 dealers.
Charleston AA gave out $50,000 worth of cash and prizes during the mega sale, as well.
There was a “tailgating” theme to the prizes, and the auction gave out things like custom grills, gas-powered blender, a custom golf cart, 55-inch LED TVs, oversized coolers and more.
“I know everyone who attended the Demolition Derby had a great time,” Laura Taylor, the auction’s general manager. “I am expecting next year to be even bigger!”

- Auto Remarketing
http://bit.ly/a8qhCY

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Even though Hertz Global Holdings spent money to increase its global car rental network, the company’s chief executive officer said the third-quarter results are likely to exceed internal expectations.
Mark Frissora, chairman and CEO, said, “Despite additional costs to expand our global car rental network, including off-airport and Advantage in the U.S., third-quarter results are likely to exceed our internal expectations, demonstrating the long-term durability of our balanced efficiency and growth strategies.
“These strategies have enabled Hertz to improve adjusted pre-tax income five consecutive quarters, and to increase U.S. car rental revenues four consecutive quarters as we exit the worst recession in the company’s 91-year history,” he continued.
“Our success in the third quarter is due to higher than forecasted efficiency improvements, including lower fleet costs, as well as stronger pricing and demand in the U.S. and Europe car rental businesses, which are anticipated to generate exceptional results. For the third quarter, HERC is expected to record positive year-over-year revenue growth for the first time in two years. Additionally, HERC’s adjusted pre-tax income is also expected to improve by more than 30 percent year-over-year, with a corporate EBITDA margin of approximately 40 percent more evidence that our equipment rental business stabilized in the third quarter,” according to Frissora.
Based on the strong expected and efficiency savings revised to $410 million, lower fleet costs and continued improvements in the company’s car rental business, Hertz said it is increasing full-year 2010 diluted earnings per share guidance to a range of $0.47 to $0.48.
According to management, this includes the negative impact of about two cents per share that can be attributed to higher fourth quarter 2010 interest costs from a $700 million debt offering in September, which will reduce ongoing interest costs by $15 million annually between 2011 and 2016 when the funds are used to pay down higher-cost debt.
Hertz also revealed it anticipates doubling GAAP income before income taxes for the third quarter of 2010 and increasing adjusted pre-tax income by about 30 percent for the same period.
The resulting adjusted diluted earnings per share for the third quarter are estimated to come in at $0.40 compared with $0.31 for the same time frame in 2009.
Hertz said third-quarter GAAP diluted earnings per share are estimated to be $0.36 compared with $0.15 for the same period last year.
Officials said the increases are thanks to lower fleet costs and a third-quarter sales increase of more than 11 percent in the company’s U.S. car rental business.
Looking ahead, Frissora said, “We expect fourth-quarter results will reflect continued growth in our car rental businesses led by resilient commercial rental activity across our largest markets, as well as strong same-store growth in Advantage and off-airport in the U.S. These improvements are likely to be partially offset by lower leisure demand, as the fourth quarter is typically a trough period in this market, and by slightly softer pricing due to mix shifts (e.g., Advantage and off-airport growth), difficult year-over-year comparisons and competitive pressure.
“Also, we are achieving additional fleet efficiencies in depreciation costs and utilization across our car rental markets. We expect HERC will continue to generate sequential and year-over-year growth in revenues, adjusted pre-tax income and corporate EBITDA, with a corporate EBITDA margin approaching 42 percent for the quarter. While we have aged the HERC fleet to an average of approximately 50 months, which generates higher maintenance costs, these increases are being offset by other fleet and labor efficiencies, as well as solid same-store revenue growth across HERC’s North American markets,” he said.

- Auto Remarketing

http://www.autoremarketing.com/content/financial-services/hertz-ceo-3q-results-likely-exceed-our-expectations

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MetroGistics selected as a preferred transport vendor on OVE.com, all dealers save 10% off your shipments when buying cars on OVE! 877.571.6235

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After a tremendous boost for the site and its advertisers spurred largely by the company advertising in last year’s game, Cars.com said today that it will once again have a marketing presence in the Super Bowl.
The company plans to debut two 30-second commercials during Super Bowl XLV, which is scheduled for Feb. 6 in Arlington, Texas.
This will be four years in a row now that Cars.com has aired commercials during the Super Bowl, and officials said these efforts have been a major catalyst for gains.
“Advertising in the Super Bowl is a proven investment, which is why we’re returning,” stated Cars.com president Mitch Golub.
“The massive audience gives tremendous lift to our business, and as we continue to grow Cars.com and our offerings to car shoppers and dealers, it’s paramount that we devote our resources to channels that will continue our trajectory as the fastest-growing brand in our category, and bring more overall value to our advertisers,” he added.
Both of the upcoming commercials will play on the site’s “Confidence” advertising efforts. The first will air during the third quarter, while the next will play in the fourth.
The Super Bowl XLIV spots helped the company see immediate and continued growth, a Cars.com executive said.
“The unique attention paid to Super Bowl ads ensures our messages are delivered,” noted Carolyn Crafts, Cars.com vice president of marketing.
“Our ad during last year’s Super Bowl reached more than 106 million viewers — the largest television audience of all time, and after the game we not only saw an enormous surge in visitors to Cars.com — and a record number of referrals to our advertisers — our awareness has continued to grow since then,” Crafts continued.
“In September 2010 more people used the considerable resources of Cars.com than any other time in our history,” she added.

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