Used Cars

Report: Prices of used cars to tumble as supply rises

12:01 am U.S. ET | March 2, 2015
Prices of used cars and light trucks up to 5 years old will drop 3 to 4.5 percent this year, fueled by a rising supply of the vehicles and an increase in off-lease volume.... Read More »

 

ADESA bows out of multiple platform auction sales

7:52 pm U.S. ET | Feb. 23, 2015
After investing nearly two years and “several million dollars” to help create online auction selling across multiple platforms, ADESA is bowing out, said Peter Kelly, president of ADESA's corporate sibling in charge of digital services.... Read More »

 

Salvage auction does a bang-up business

12:01 am U.S. ET | Feb. 23, 2015
Salvage auto-auction company Insurance Auto Auctions Inc., sibling to auction giant ADESA, has been on a growth spurt since December 2013. In that time, it has opened, acquired, reopened, moved or expanded sites in 13 markets. The moves were necessary to meet the demand of quickly disposing of wrecked vehicles, says CEO John Kett.... Read More »

 

VW sees 'banner year' for certified-used sales

12:01 am U.S. ET | Feb. 23, 2015
Volkswagen division's certified used-vehicle sales rose 17 percent last month to 7,675. It was the brand's best certified used-vehicle sales for a January and the beginning of a "banner year," said Michael Ashton, VW's senior manager of CPO and used-vehicle operations.... Read More »

 

Black Book's Beggs to retire April 1

3:33 pm U.S. ET | Feb. 17, 2015
Ricky Beggs, senior vice president and editorial director for Black Book, will retire April 1, the company said today.... Read More »

 

AutoWeb sells Web traffic -- but it's not stopping there

11:56 am U.S. ET | Feb. 14, 2015
There’s another Web traffic source for dealers to use. Miami-based AutoWeb is an online search company that allows dealers to see which vehicles potential shoppers are interested in.... Read More »

 

Honda shines in Best Cars for the Money awards

12:01 am U.S. ET | Feb. 11, 2015
Honda claimed nearly a third of US News & World Report's 2015 Best Cars for the Money awards, leading a pack of mostly import winners.... Read More »

 

JIM HENRY

Auto lenders cite discipline with U.S. sales booming

11:00 am U.S. ET | Jan. 28, 2015
“Discipline” was the watchword for auto lenders in panel discussions and interviews in and around the National Automobile Dealers Association convention.... Read More »

 

Exec: Enterprise holds steady on program cars

12:01 am U.S. ET | Jan. 26, 2015
Unlike its two closest competitors, Hertz Corp. and Avis Budget Group Inc., Enterprise Holdings is not increasing the percentage of its 2015 fleet filled by program cars, vehicles for which the automaker takes responsibility for remarketing, said the executive in charge of the company's vehicle acquisitions.... Read More »

 

Used-vehicle prices finish 2014 strong

12:01 am U.S. ET | Jan. 26, 2015
Greater volumes of off-lease, retired rental and other used vehicles returned to the market last year, but overall values of used vehicles closed 2014 with prices in December registering year-over-year increases.... Read More »

 

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

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

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 »

 

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