Used Cars

Leasing on rise and being 'done right,' says Cox economist

10:00 am U.S. ET | Feb. 10, 2016

Although leasing is on the rise, it is “leasing done right” this time, in contrast to “leasing done wrong” in 1999 when leases last peaked and ultimately damaged residual values dramatically, Tom Webb, Cox Automotive chief economist, writes in the Manheim 2016 Used Car Market Report released Monday.... Read More »

Used-car loophole for recalls tightens up

12:01 am U.S. ET | Feb. 8, 2016

While a proposed federal law to close the used-car loophole is dead for now, efforts to keep unrepaired recalled vehicles out of circulation are stirring. And with powerful players mobilizing on the issue in an era of high-volume, high-profile recalls, dealers and automakers may face pressure to revisit their policies.... Read More »

AutoNation's recall policy disrupts used-vehicle business

12:01 am U.S. ET | Feb. 8, 2016

AutoNation's recall policy challenged its used-vehicle business in the fourth quarter. The disruptions will continue through the first half as the retailer continues to expand its used-vehicle inventory.... Read More »

Margin squeeze hurts used-vehicle prices, economist says

1:03 pm U.S. ET | Feb. 5, 2016

The Manheim Used Vehicle Value Index dipped in January, registering only its second decline in the last eight months.... Read More »

CarMax CEO Tom Folliard to retire by end of year

10:34 am U.S. ET | Feb. 1, 2016

CarMax CEO Tom Folliard will retire by the end of the year, the used-car retailer said today. He will be succeeded by Bill Nash, the executive vice president of human resources.... Read More »

Surge in end-of-lease cars seen pressuring prices in record sales year

6:51 am U.S. ET | Feb. 1, 2016

A surge in cars and SUVs coming out of leases have analysts predicting pressure on prices of both used and new models, curbing investor enthusiasm over sales records projected for this year.... Read More »

Fiat 500L used by Pope Francis in U.S. fetches $82,000 at auction

12:47 pm U.S. ET | Jan. 30, 2016

A tiny black Fiat 500L that carried Pope Francis through Philadelphia during his historic first visit to the U.S. was sold for $82,000 at a Friday auction.... Read More »

Cheap gas hits hybrid, EV residuals

12:01 am U.S. ET | Jan. 30, 2016

Beware! Falling gasoline prices are hitting the residual values of used hybrids, electrics and plug-ins - hard. The influx of used small cars set to return to the market is just going to make matters worse.... Read More »

GM, Lithia, Koons settle advertising allegations by FTC

1:38 pm U.S. ET | Jan. 28, 2016

GM and two dealership companies, Jim Koons Management and Lithia Motors, will settle allegations that they advertised cars as being carefully inspected when, in fact, they had unrepaired safety recalls, the FTC said.... Read More »

GM program 'just another channel'

12:01 am U.S. ET | Jan. 25, 2016

Dealers have responded warily to news that General Motors will insert itself into the used-car business, a key profit center at most dealerships. Here are details on how GM's Factory Pre-Owned Collection plan will work.... Read More »

Pope's blessing

Fiat from Pope Francis' U.S. visit to be auctioned

12:59 pm U.S. ET | Jan. 20, 2016

The tiny black Fiat 500L that ferried Pope Francis to the White House and Congress during his historic first visit to the United States will be auctioned in Philadelphia next week, officials said today.... Read More »

Ford, Leno to auction custom Harley-Davidson F-150

12:49 pm U.S. ET | Jan. 15, 2016

Ford and comedian Jay Leno said they will be auctioning off a one-of-a-kind Harley-Davidson Ford F-150 later this month and donating the proceeds to National Multiple Sclerosis Society.... Read More »

GM to launch online portal for low-mileage used cars

8:00 am U.S. ET | Jan. 13, 2016

GM plans to launch an online service to sell low-mileage used cars to consumers nationwide, a bid to capture the growing number of car shoppers who prefer to browse digitally.... Read More »

Manheim economist sees used-vehicle prices easing in 2016

3:22 pm U.S. ET | Jan. 8, 2016

The number of off-lease vehicles slated to hit the market this year is expected to grow by more than 20 percent, but used-vehicle prices will decline only modestly in 2016, predicts Tom Webb, Manheim chief economist.... Read More »

Manheim Canada acquires 100% of partnership auction site

3:30 pm U.S. ET | Jan. 7, 2016

Cox Automotive Canada, through its Manheim Canada operation, has acquired 100 percent ownership of Manheim Source Edmonton, in Edmonton, Alberta. The auction site has been renamed Manheim Edmonton.... Read More »

Lexus is flexing its CPO muscles

12:01 am U.S. ET | Jan. 4, 2016

Lexus, one of the pioneers in aggressively promoting certified used-vehicle sales, is raising its game. The brand re-badged its Lexus Certified program as L/Certified about two months ago. The program also got a new logo and supporting ad campaign.... Read More »

Carfax owner buys Canadian vehicle-history provider for $460 million

11:48 am U.S. ET | Dec. 28, 2015

IHS said today it has acquired Carproof, a Canadian used-vehicle history provider, for $460 million.... Read More »

2015 LISTS OF 10

Hot topics, trends to watch in 2016

12:01 am U.S. ET | Dec. 28, 2015

Record certified used-vehicle sales. Strong used-vehicle prices, even amid rising inventory. It was a booming year in the automotive remarketing world in 2015. Here are 10 topics and trends to watch in 2016.... Read More »

BEST PRACTICES

Army veteran's discipline cuts used-car recon time in half

12:01 am U.S. ET | Dec. 21, 2015

An Army vet cut vehicle reconditioning time in half at three Greenway Automotive dealerships in Orlando, which sped inventory to turn and slashed costs, by creating and adhering to strict standards and procedures.... Read More »

A DOZEN DISRUPTORS

Ernie Garcia Jr.: Pioneering the "used-car vending machine"

12:01 am U.S. ET | Dec. 21, 2015

The just-opened structure dispenses used cars to customers -- but it also serves as eye candy to an even bigger oddity on today's automotive landscape: Garcia's company is not selling the used cars here at the gumball machine. He is selling them online.... Read More »

JAMES B. TREECE

With a foe like this, CarMax just can't win

12:01 am U.S. ET | Dec. 21, 2015

Sean Kane, a consumer advocate, set out deliberately to buy a used vehicle with an open safety recall at a CarMax store in Massachusetts. He succeeded, purchasing a 2012 Jeep Grand Cherokee with three unfixed recall orders on it. Now, he's upset that CarMax sold him the Jeep.... Read More »

End of the 'free lunch on interest rates'

12:01 am U.S. ET | Dec. 20, 2015

Higher U.S. interest rates most likely won't dampen new car sales, but they will mean a more competitive environment and possibly slimmer profits, for automakers, dealers and lenders.... Read More »

Online retailer Vroom acquires Texas Direct Auto

12:26 pm U.S. ET | Dec. 16, 2015

Online used-car retailer Vroom said today it has acquired one of its competitors, Texas Direct Auto. The deal was approved today by the Department of Justice, a Vroom spokeswoman said.... Read More »

Subaru, Lexus top brands for projected resale value, says KBB

11:42 am U.S. ET | Dec. 15, 2015

Subaru today was named Kelley Blue Book's best brand for projected resale value for the 2016 model year, while Lexus won the same award for luxury brands. General Motors led all automakers with four vehicles -- the Chevrolet Camaro, Colorado and Canyon, and the GMC Sierra -- on KBB's list of top 10 vehicles with the best resale value.... Read More »

FCA ends dealer spiffs that lifted Chrysler 200

12:01 am U.S. ET | Dec. 14, 2015

Fiat Chrysler has discontinued an aggressive stair-step incentive on the Chrysler 200 that boosted sales in a segment where the brand has long been a laggard.... Read More »

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