Used Cars

Certified used sales poised for another record

12:01 am U.S. ET | Jan. 26, 2015

Buoyed by an uptick in off-lease vehicles flowing back into the market, the industry will sell at least 2.5 million certified used vehicles this year, breaking last year's record, some analysts predict.... Read More »

Service lanes can become source of used-car inventory

2:00 pm U.S. ET | Jan. 24, 2015

Brian Benstock has found that his own service department is the best place to shop for used vehicles. When the general manager of Paragon Honda in Woodside, N.Y. needs a used car or truck of a certain model year, color and trim level, he searches his database and invites owners of those vehicles into his service department. He offers them discounts on maintenance work.... Read More »

Reports aim to aid VW certified used sales

6:52 pm U.S. ET | Jan. 23, 2015

Volkswagen of America will provide free CarStory Market Reports to VW dealers to help educate consumers about the benefits of VW's certified used-vehicle program and to help dealers sell more certified used VW vehicles.... Read More »

JIM HENRY

BLOG: The lesson of the pizza delivery man

11:00 am U.S. ET | Jan. 21, 2015

Here’s a lesson for dealerships that run security cameras in the F&I office and elsewhere: Treat all store visitors well.... Read More »

ARLENA SAWYERS

BLOG: How will the newest metal in Detroit hold up in the used market?

2:12 pm U.S. ET | Jan. 15, 2015

When analysts who examine used vehicles and establish prices for them look at an all-new or redesigned car or pickup, they study exterior styling, engine specs and technical innovations. The also weigh factors such as price, incentives, competitors and deliveries to rental fleets.... Read More »

More off-lease pickups, SUVs and crossovers in 5 years, KBB says

6:23 pm U.S. ET | Jan. 11, 2015

Cars dominated the top segments of vehicles coming off lease in 2014, but the segments with the most projected off-lease growth in 2019, vs. 2014 volumes, will be SUVs, crossovers and pickups, analysts from Kelley Blue Book predicted Sunday.... Read More »

KAR Auction names Peter Kelly president of new digital group

1:53 pm U.S. ET | Jan. 8, 2015

KAR Auction Services, parent of ADESA, has named Peter Kelly president of its new Digital Services Group, effective immediately. Kelly, 46, co-founded Openlane in 1999 and has been KAR’s chief technology officer since 2013.... Read More »

Tesla to help Chinese buyers trade in their old cars for Model S

8:10 am U.S. ET | Dec. 26, 2014

Tesla Motors will help Chinese buyers trade in their old cars if they buy a Model S, part of the automaker’s latest efforts to spur sales of its all-electric sedan in the world’s biggest vehicle market.... Read More »

Hertz raises U.S. prices as fleet costs increase

5:16 pm U.S. ET | Dec. 23, 2014

Hertz Global Holdings raised prices for rental cars to be picked up January 1 or later. The stock had its biggest gain of the year, and Avis shares soared, too.... Read More »

Used-car buyers are big F&I opportunity

12:01 am U.S. ET | Dec. 23, 2014

Otto Belovich believes it is a disservice to his customers -- especially those who buy used vehicles -- if he doesn't offer them the opportunity to purchase a service contract.... Read More »

Manheim aims to get auctions done faster

12:01 am U.S. ET | Dec. 22, 2014

In October, Manheim began requiring sellers to set the starting bid on their vehicles no lower than three bids below their floor price.... Read More »

CarMax says Q3 net income rose 22% to $130 million

9:14 am U.S. ET | Dec. 19, 2014

CarMax, the largest used-car seller in the United States, said net income surged 22 percent in its third fiscal quarter as easier credit boosted vehicle sales.... Read More »

Retired rentals ding prices

12:01 am U.S. ET | Dec. 15, 2014

The talk in remarketing circles has been about how the rising tide of off-lease vehicles will push used-car prices down. But more retired rental units are destined to hit the market next year, too.... Read More »

Where are the GM program vehicles?

12:01 am U.S. ET | Dec. 15, 2014

The flow of retired rental vehicles that General Motors normally sells at auction to its dealers has slowed to a trickle since mid-November, dealers say. The prices that GM can fetch on program vehicles -- those that the automaker takes back after they're retired from rental fleets -- dropped dramatically in late October.... Read More »

DriveTime names Manheim, low-end vehicle auction as exclusive remarketers

4:07 pm U.S. ET | Dec. 11, 2014

DriveTime has named Manheim and Go Auto Exchange, an auction that specializes in dealer-to-dealer sales of low-end used vehicles, as its exclusive sales outlet for remarketing vehicles.... Read More »

Used-car buyers are big F&I opportunity

12:01 am U.S. ET | Dec. 8, 2014

Otto Belovich believes it is a disservice to his customers -- especially those who buy used vehicles -- if he doesn't offer them the opportunity to purchase a service contract.... Read More »

ARLENA SAWYERS

Easy credit dries up buy-here, pay-here business, dealer says

12:01 am U.S. ET | Dec. 8, 2014

Dealers and lenders insist that there is no subprime bubble in automotive financing, and the numbers back them up.... Read More »

Lack of 2014 retired rental units buoy Nov. auction prices

3:34 pm U.S. ET | Dec. 5, 2014

Strong used-vehicle demand and a sharp decline in retired rental vehicles offered at auction buoyed prices of used cars and trucks in November.... Read More »

Dealer's vintage car auction packs 'em in

12:01 am U.S. ET | Nov. 24, 2014

We reported last month on Dallas-area Ford dealer Sam Pack's plans to auction off 131of his 473 vintage automobiles in Dallas on Nov. 15. So how did things turn out? The event certainly attracted a crowd.... Read More »

ARLENA SAWYERS

Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 24, 2014

There is no subprime auto loan bubble, darn it. That message came through loud and clear at session after session devoted to subprime lending during the Used Car Week Conferences sponsored by Auto Remarketing magazine this month in Las Vegas.... Read More »

Structural damage or fender bender?

12:01 am U.S. ET | Nov. 24, 2014

TrueFrame will inspect any vehicle, at a dealership's request, that has an accident on its history report. TrueFrame issues its own report if the vehicle passes its cosmetic and structural standards. The TrueFrame report is sent to the dealership that requested it and to vehicle history reporting companies such as Carfax Inc., which has agreed to link TrueFrame reports to its vehicle history reports.... Read More »

Next phase of multiplatform sales? Hold your horses

12:01 am U.S. ET | Nov. 24, 2014

Remarketers, auto dealers and others had hoped to hear at a remarketing conference this month about when the next stage in online multiplatform auction selling would arrive. But when Jay Cadigan, who represents Manheim in conversations with other key players hammering out details of the initiative, was asked about its timeline, he demurred.... Read More »

Two-car households will decline, KPMG report predicts

12:01 am U.S. ET | Nov. 22, 2014

Two-car households may be on the decline as urbanization increases, but they are far from disappearing, a KPMG report said this week.... Read More »

Hertz hires airline veteran Tague to revive company

12:12 pm U.S. ET | Nov. 21, 2014

Hertz Global Holdings named John Tague as its new CEO, appointing the manager credited with boosting sales at United Airlines to restore investors' confidence in the car-rental company plagued by an aging fleet and sloppy accounting.... Read More »

ARLENA SAWYERS

BLOG: Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 19, 2014

There is no subprime auto loan bubble, darn it. That message came through loud and clear in session after session during the recent Used Car Week conference sponsored in Las Vegas.... Read More »

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