Used CarsDealer sales dominated auto auction scene in 2012 12:01 am U.S. ET | April 8, 2013 Vehicles owned by dealers represented the biggest share of the almost 8 million units sold by members of the National Auto Auction Association last year.... Read More »
How the Fed fueled an explosion in subprime auto loans 12:01 am U.S. ET | April 7, 2013  Jeffrey Nelson was able to put up a shotgun as down payment on a car. At car dealers across the United States, loans to subprime borrowers like him are surging. Subprime auto lenders are showing up in a lot of personal bankruptcy filings, too. The Federal Reserve has made it all possible.... Read More »
REMARKETING Smaller groups are big in used-car sales per store 12:01 am U.S. ET | March 25, 2013 In used-vehicle sales per dealership, the Joe Machens Dealerships group has a leg up over all but a handful of other dealership groups in the United States, ranking No. 5 by that measure, according to data from the Automotive News list of the top 125 U.S. dealership groups. In contrast, the group ranks No. 90 in retail new-vehicle sales and No. 28 in total used-vehicle sales.... Read More »
Hertz sales increasingly bypass auctions 12:01 am U.S. ET | March 4, 2013 Hertz Global Holdings Inc. sold more retired rental vehicles in the United States last year than the year before, with a rising share of the sales going directly to dealers and consumers, CEO Mark Frissora said.... Read More »
Mobile apps are the new frontier of used-car sales 12:01 am U.S. ET | March 4, 2013  Captive finance companies, auto auctions, third-party Web sites and others unleashed a proliferation of mobile apps and products aimed at remarketers during the National Automobile Dealers Association convention in Orlando last month.... Read More »
Repo-related American Recovery Assn., National Finance Adjusters merge 8:00 am U.S. ET | Feb. 26, 2013 The American Recovery Association, an association of remarketing and recovery professionals that specializes in locating and repossessing vehicles on behalf of lenders, has merged with National Finance Adjusters, an organization that specializes in education for collateral recovery and liquidation professionals.... Read More »
BEST PRACTICES Stressed by growth, group pulls in reins 12:01 am U.S. ET | Feb. 25, 2013  In 2005, West Herr Automotive Group Inc. crafted a used-vehicle strategy that proved highly successful. Almost too successful. Going into 2012, the dealership group in a suburb of Buffalo, N.Y., revised its practices, in part by slashing its used-vehicle inventory.... Read More »
REMARKETING Experts: '13 certified sales to rise 10%-plus 12:01 am U.S. ET | Feb. 25, 2013  Certified used-vehicle sales will increase at least 10 percent and overall used-vehicle prices will hold steady at high levels this year, analysts predict.... Read More »
REMARKETING Keeping used-car wholesaling within the group 12:01 am U.S. ET | Feb. 25, 2013  Sam Swope Auto Group is among 10 large dealership groups using Manheim's Dealer Trade Network under a private label agreement.... Read More »
Zipcar taps ad agency Campbell Ewald, hires new CMO 2:01 pm U.S. ET | Feb. 22, 2013  Hourly car rental firm Zipcar, in the process of getting a new parent company, has selected Interpublic Group's Campbell Ewald, the former longtime Chevy ad agency, as its new global creative and brand strategy agency, the company said in a statement.... Read More »
Sandy walloped ADESA's vehicle-salvage unit, CEO says 4:15 pm U.S. ET | Feb. 21, 2013 Hurricane Sandy hit KAR Auction Services and its used-vehicle salvage arm, Insurance Auto Auctions, far harder last fall than Hurricane Katrina did in 2005, KAR CEO Jim Hallett said today.... Read More »
FINAL ASSEMBLY A new take on facilities: Forget bricks and mortar 12:01 am U.S. ET | Feb. 18, 2013  Carmakers are going about the dealer facilities issue all wrong, says Dale Pollak, head of vAuto, a software provider that specializes in management of used-vehicle inventories.... Read More »
NADA CONVENTION Report: Rising sales of rentals to restock used-vehicle supply 12:01 am U.S. ET | Feb. 18, 2013 New-vehicle sales to rental car companies in 2012 rose 11 percent to 1.55 million units, which will help increase the number of vehicles returning to the used-car market in 2013, predicts an annual report on the state of the used-car industry.... Read More »
Q&A: RICKY BEGGS, BLACK BOOK After 'unbelievably high' levels, used prices expected to soften 12:01 am U.S. ET | Feb. 18, 2013  As managing editor of Black Book, Ricky Beggs oversees the company's daily monitoring and analysis of national used-vehicle prices, providing dealers, auctions and automakers with the data needed for pricing and residual planning.... Read More »
Q&A: Used prices expected to soften this year 3:52 pm U.S. ET | Feb. 10, 2013  As managing editor of Black Book, Ricky Beggs oversees the company's daily monitoring and analysis of national used-vehicle prices, providing dealers, auctions and automakers with the data needed for pricing and residual planning. Beggs spoke with Staff Reporter Lindsay Chappell during the National Automobile Dealers Association convention here.... Read More »
ARLENA SAWYERS Heavy snow won’t stop auction action, NAAA president says 6:22 pm U.S. ET | Feb. 9, 2013  The roads are blocked, businesses are closed and people have hunkered down in their homes as the Northeast rides out the great blizzard of 2013. But come Monday morning auto auctions located in the snow-covered Northeast will be ready for business, predicts Paul Lips, president of the National Auto Auction Association.... Read More »
Used-car auction volumes seen rising 5% in 2013 10:51 am U.S. ET | Feb. 9, 2013  New-vehicle sales to rental car companies in 2012 rose 11 percent to 1.55 million units in the United States, which will help increase the number of vehicles returning to the used-car market in 2013, predicts an annual report on the state of the used-car industry.... Read More »
REMARKETING Certified-used sales hit record in 2012 12:01 am U.S. ET | Jan. 28, 2013  Franchised dealers of all brands sold a record 1,834,746 certified used cars and trucks, a 5 percent increase over 2011, according to data compiled by the Automotive News Data Center and Autodata Corp. And certified-used programs aim to push forward this year.... Read More »
REMARKETING Sandy disrupts seasonal shifts in used-vehicle prices 12:01 am U.S. ET | Jan. 28, 2013 Used-vehicle prices ended 2012 on a high note, buoyed by the impact of Hurricane Sandy last fall, analysts say.... Read More »
Avis Budget, Zipcar to share cars 12:01 am U.S. ET | Jan. 7, 2013  Avis Budget Group Inc.'s proposed purchase of Zipcar Inc., a car-sharing company, will enable the combined company to meet swings in customer demand with fewer vehicles, the top executive at Avis Budget said. The result could be annual savings of $50 million to $70 million.... Read More »
REMARKETING ADESA begins Web site switch 12:01 am U.S. ET | Dec. 24, 2012  ADESA has a new, enhanced remarketing Web site that eventually will replace its current adesa.com.... Read More »
REMARKETING Analysts: Used-car prices will soften 12:01 am U.S. ET | Dec. 24, 2012 Used-vehicle prices in the first quarter are predicted to range from "strong" to down 1 to 2 percent from the year-earlier quarter. That's the consensus of analysts, who also predict that about 240,000 to 400,000 more off-lease vehicles will re-enter the market in 2013 than in 2012.... Read More »
REMARKETING Manheim buys transporter 12:01 am U.S. ET | Dec. 24, 2012 Manheim, the nation's largest auto auction company, purchased Ready Auto Transport, a vehicle transportation company.... Read More »
REMARKETING CPO sales ahead of last year 12:01 am U.S. ET | Dec. 24, 2012 Industrywide certified used-vehicle sales totaled 147,872 units in November, up 7 percent over November 2011, and totaled 1,678,410 units in the first 11 months of the year, up 6 percent over the same period in 2011, according to data compiled by the Automotive News Data Center and Autodata Corp.... Read More »
CarMax Q3 profit rises on surge in used-car supply, consumer confidence 9:22 am U.S. ET | Dec. 20, 2012  CarMax, the nation's largest used-car retailer, reported a stronger third-quarter profit as a rise in supply, more attractive financing options and improved customer sentiment helped it sell more vehicles to retail clients. Net income rose to $94.7 million, or 41 cents per share, in the third quarter from $82.1 million, or 36 cents per share, a year earlier.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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