This is wrong.... Auto Volt feature of a power supply has nothing to do with power factor correction. Power Factor and Auto are two distinct electrical parameter.
The assessment for best answer is wrong.
Power Factor is the ratio of real power and apparent power in an AC power system. It is dimensionless parameter from 0 to 1. With 1 being rated as more efficient load. Closer to zero mean drawing more current that what is needed.
Good home appliance have power factor starting from .90 to closer to 1.
Auto Power Factor Correction devices are feature of PSU to increase the power factor and make the PSU/Appliance more power efficient.
Below is a simple reference for Power Factor for your reference:http://en.wikipedia.org/wiki/Power_factor
For further clarification talk to your local University Electrical Engineering Professor.
Auto Volt is a different feature that enable an appliance (CRT, TV etc) or a PSU to operate for an specified voltage range (i.e. 90V AC to 260V AC, 50HZ to 60 HZ). Such device/appliance/ or PSU will can operate in different parts of the world (i.e. EU 50 HZ 240V AC, USA 60HZ 110V AC).