Automotive News Used Vehicles News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Thu, 28 May 2015 06:00:00 EST Buyers emerge for auction companies http://www.autonews.com/article/20150525/RETAIL04/305259998/buyers-emerge-for-auction-companies Mon, 25 May 2015 00:01:00 EST Mergers and acquisitions are happening among auto auctions, and attracting private-equity players, for the same reasons they are on the rise among car dealerships: Robust and growing sales volumes and aging owners. Auctions focus on high-quality vehicle images http://www.autonews.com/article/20150525/RETAIL04/305259997/auctions-focus-on-high-quality-vehicle-images Mon, 25 May 2015 00:01:00 EST Auctions are taking steps to raise the quality and resolution of their vehicle photos, yielding more bids and higher conversion rates. Tesla starts small with CPO program http://www.autonews.com/article/20150509/RETAIL04/305119972/tesla-starts-small-with-cpo-program Sat, 9 May 2015 00:01:00 EST Tesla is now selling CPO cars online in 11 US cities, marking the start of a used-car foray that could someday turn into a big money-maker. KAR Auction Q1 net income doubles http://www.autonews.com/article/20150506/RETAIL04/150509902/kar-auction-q1-net-income-doubles Wed, 6 May 2015 15:11:32 EST KAR Auction Services, parent company of ADESA, said its net income more than doubled to $54.5 million on revenues that increased 8.3 percent to $632.4 million in the first quarter. Whole lotta wholesalin' goin' on http://www.autonews.com/article/20150427/RETAIL04/304279986/whole-lotta-wholesalin-goin-on Mon, 27 Apr 2015 00:01:00 EST Soaring new-vehicle sales for the last few years mean that used vehicles are more plentiful. Dealers have become more selective about the vehicles they stock, and more willing to wholesale the ones they cull. Recalled program cars vex GM, hurt profits http://www.autonews.com/article/20150427/RETAIL04/304279958/recalled-program-cars-vex-gm-hurt-profits Mon, 27 Apr 2015 00:01:00 EST Late last year, General Motors decided to hold off on auctioning many of its retired rental vehicles because of depressed prices. Manheim expands its mobile auctions http://www.autonews.com/article/20150427/RETAIL04/304279989/manheim-expands-its-mobile-auctions Mon, 27 Apr 2015 00:01:00 EST Manheim is expanding its mobile auction business, which the company says could grow to 20 percent of its revenues eventually from less than 5 percent today. Online startups offer dealers faster, cheaper ways to wholesale vehicles http://www.autonews.com/article/20150413/RETAIL04/304139964/online-startups-offer-dealers-faster-cheaper-ways-to-wholesale Mon, 13 Apr 2015 00:01:00 EST Years ago, dealers who wanted to get rid of aged used cars and unwanted trade-ins had to take them to a local auction. But now auctions are being challenged by start-ups that offer alternative ways to wholesale used vehicles. Porsche taps Cox unit to help manage off-lease portfolio http://www.autonews.com/article/20150406/RETAIL04/150409898/porsche-taps-cox-unit-to-help-manage-off-lease-portfolio Mon, 6 Apr 2015 11:27:17 EST Porsche Cars North America Inc. has tapped a Cox Automotive software platform company to help it manage its off-lease portfolio. CarMax will step up store-opening pace http://www.autonews.com/article/20150402/RETAIL/150409922/carmax-will-step-up-store-opening-pace Thu, 2 Apr 2015 15:46:00 EST CarMax said will open 13 to 16 new used-only stores each of the next three fiscal years, starting with the one that began March 1. That is up from the 10 to 15 stores a year it has opened since the recession. Cox's Schwartz urges 3 dealer changes http://www.autonews.com/article/20150331/BLOG06/304019999/coxs-schwartz-urges-3-dealer-changes Tue, 31 Mar 2015 17:15:00 EST Sandy Schwartz has been campaigning this year with a stump speech that drives home a simple message: Dealers have to change the way they do business, and today's good times represent an opening to do so. Bidding goodbye to Black Book's Beggs http://www.autonews.com/article/20150331/BLOG06/150339955/bidding-goodbye-to-black-books-beggs Tue, 31 Mar 2015 14:34:01 EST After 34 years at Black Book, Ricky Beggs is retiring on April 1. That such a fixture of the used-car world would retire seems like an April Fools' joke. But it's not; he's really retiring. Care about new-car sales? Keep an eye on CPO sales http://www.autonews.com/article/20150330/BLOG06/150339991/care-about-new-car-sales-keep-an-eye-on-cpo-sales Mon, 30 Mar 2015 12:53:30 EST Can the robust CPO market handle the rising tide of used-vehicle supply? That's one of the critical questions facing everyone in the used-car market -- and the new-car market, too. Revamp of CPO program pays off for Fiat Chrysler http://www.autonews.com/article/20150330/RETAIL04/303309993/revamp-of-cpo-program-pays-off-for-fiat-chrysler Mon, 30 Mar 2015 00:01:00 EST Fiat Chrysler's retooled certified used-vehicle program is paying off, said Eric Swanson, FCA US senior manager of certified pre-owned vehicle sales. Leases to get more expensive, ALG says http://www.autonews.com/article/20150328/RETAIL04/303309994/leases-to-get-more-expensive-alg-says Sat, 28 Mar 2015 00:01:00 EST Low-cost monthly auto leases will become more expensive over the next couple of years, predicts ALG President Larry Dominique. Fewer photos prevents 'image fatigue,' used-car shopper report says http://www.autonews.com/article/20150324/RETAIL/150329932/fewer-photos-prevents-image-fatigue-used-car-shopper-report-says Tue, 24 Mar 2015 16:04:22 EST Too many photos in online used-vehicle listings can cause 'image fatigue' for consumers, a study released today found. The optimal number? Nine. Auction changes meet hurdles as coalition breaks http://www.autonews.com/article/20150309/RETAIL04/303099951/auction-changes-meet-hurdles-as-coalition-breaks Mon, 9 Mar 2015 00:01:00 EST For two years, the hottest topic in the auto-auction world has been multiplatform selling: A vehicle listed on one company's online auction would show up on rivals' platforms as well, allowing buyers to bid across those competing platforms until the... Manheim offers a la carte services http://www.autonews.com/article/20150309/RETAIL04/303099995/manheim-offers-a-la-carte-services Mon, 9 Mar 2015 00:01:00 EST Manheim, the nation's largest auto auction company, is unbundling services that it had offered only on vehicles that dealers bought or sold through its auctions. ADESA bows out of multiple platform auction sales http://www.autonews.com/article/20150223/RETAIL04/150229947/adesa-bows-out-of-multiple-platform-auction-sales Mon, 23 Feb 2015 19:52:11 EST 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. CarMax beats Calif. suit over 'certified' documents http://www.autonews.com/article/20150223/LEGALFILE/302239983/carmax-beats-calif-suit-over-certified-documents Mon, 23 Feb 2015 00:01:00 EST CarMax Auto Superstores California has beaten a fraud suit by the purchasers of a used 2008 Dodge Caravan who claimed the Riverside dealership where they bought the minivan failed to give them a state-mandated Certified Quality Inspection checklist. Salvage auction does a bang-up business http://www.autonews.com/article/20150223/RETAIL04/302239999/salvage-auction-does-a-bang-up-business Mon, 23 Feb 2015 00:01:00 EST 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. VW sees 'banner year' for certified-used sales http://www.autonews.com/article/20150223/RETAIL04/302239998/vw-sees-banner-year-for-certified-used-sales Mon, 23 Feb 2015 00:01:00 EST Volkswagen division's certified used-vehicle sales rose 17 percent last month to 7,675. Black Book's Beggs to retire April 1 http://www.autonews.com/article/20150217/OEM02/150219847/black-books-beggs-to-retire-april-1 Tue, 17 Feb 2015 15:33:11 EST Ricky Beggs, senior vice president and editorial director for Black Book, will retire April 1, the company said today. AutoWeb sells Web traffic -- but it's not stopping there http://www.autonews.com/article/20150214/RETAIL/150219883/autoweb-sells-web-traffic-but-its-not-stopping-there Sat, 14 Feb 2015 11:56:16 EST 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. Exec: Enterprise holds steady on program cars http://www.autonews.com/article/20150126/RETAIL04/301269964/exec-enterprise-holds-steady-on-program-cars Mon, 26 Jan 2015 00:01:00 EST Unlike its two closest competitors, Hertz Corp. and Avis Budget Group Inc. Used-vehicle prices finish 2014 strong http://www.autonews.com/article/20150126/RETAIL04/301269989/used-vehicle-prices-finish-2014-strong Mon, 26 Jan 2015 00:01:00 EST 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. Certified used sales poised for another record http://www.autonews.com/article/20150126/RETAIL04/301269991/certified-used-sales-poised-for-another-record Mon, 26 Jan 2015 00:01:00 EST 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. Service lanes can become source of used-car inventory http://www.autonews.com/article/20150124/RETAIL06/301259992/service-lanes-can-become-source-of-used-car-inventory Sat, 24 Jan 2015 14:00:00 EST 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. Reports aim to aid VW certified used sales http://www.autonews.com/article/20150123/RETAIL06/301249956/reports-aim-to-aid-vw-certified-used-sales Fri, 23 Jan 2015 18:52:53 EST 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. How will the newest metal in Detroit hold up in the used market? http://www.autonews.com/article/20150115/BLOG06/150119796/how-will-the-newest-metal-in-detroit-hold-up-in-the-used-market Thu, 15 Jan 2015 14:12:50 EST 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. More off-lease pickups, SUVs and crossovers in 5 years, KBB says http://www.autonews.com/article/20150111/RETAIL04/150119970/more-off-lease-pickups-suvs-and-crossovers-in-5-years-kbb-says Sun, 11 Jan 2015 18:23:10 EST 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. KAR Auction names Peter Kelly president of new digital group http://www.autonews.com/article/20150108/RETAIL04/150109903/kar-auction-names-peter-kelly-president-of-new-digital-group Thu, 8 Jan 2015 13:53:44 EST 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. Used-car buyers are big FandI opportunity http://www.autonews.com/article/20141223/FINANCE_AND_INSURANCE/312239996/used-car-buyers-are-big-fi-opportunity Tue, 23 Dec 2014 00:01:00 EST 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. Manheim aims to get auctions done faster http://www.autonews.com/article/20141222/RETAIL/312229995/manheim-aims-to-get-auctions-done-faster Mon, 22 Dec 2014 00:01:00 EST In October, Manheim began requiring sellers to set the starting bid on their vehicles no lower than three bids below their floor price. Retired rentals ding prices http://www.autonews.com/article/20141215/RETAIL04/312159964/retired-rentals-ding-prices Mon, 15 Dec 2014 00:01:00 EST 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. DriveTime names Manheim, low-end vehicle auction as exclusive remarketers http://www.autonews.com/article/20141211/RETAIL04/141219963/drivetime-names-manheim-low-end-vehicle-auction-as-exclusive Thu, 11 Dec 2014 16:07:37 EST 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. Used-car buyers are big FandI opportunity http://www.autonews.com/article/20141208/FINANCE_AND_INSURANCE/312089991/used-car-buyers-are-big-fi-opportunity Mon, 8 Dec 2014 00:01:00 EST 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. Easy credit dries up buy-here, pay-here business, dealer says http://www.autonews.com/article/20141208/FINANCE_AND_INSURANCE/312089992/easy-credit-dries-up-buy-here-pay-here-business-dealer-says Mon, 8 Dec 2014 00:01:00 EST Dealers and lenders insist that there is no subprime bubble in automotive financing, and the numbers back them up. Lack of 2014 retired rental units buoy Nov. auction prices http://www.autonews.com/article/20141205/RETAIL04/141209866/lack-of-2014-retired-rental-units-buoy-nov-auction-prices Fri, 5 Dec 2014 15:34:42 EST Strong used-vehicle demand and a sharp decline in retired rental vehicles offered at auction buoyed prices of used cars and trucks in November. Dealer's vintage car auction packs 'em in http://www.autonews.com/article/20141124/RETAIL07/311249956/dealers-vintage-car-auction-packs-em-in Mon, 24 Nov 2014 00:01:00 EST 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. Popping the subprime bubble myth http://www.autonews.com/article/20141124/FINANCE_AND_INSURANCE/311249963/popping-the-subprime-bubble-myth Mon, 24 Nov 2014 00:01:00 EST 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. Structural damage or fender bender? http://www.autonews.com/article/20141124/RETAIL04/311249988/structural-damage-or-fender-bender Mon, 24 Nov 2014 00:01:00 EST 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. Next phase of multiplatform sales? Hold your horses http://www.autonews.com/article/20141124/RETAIL04/311249989/next-phase-of-multiplatform-sales-hold-your-horses Mon, 24 Nov 2014 00:01:00 EST 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. Two-car households will decline, KPMG report predicts http://www.autonews.com/article/20141122/RETAIL03/141129942/two-car-households-will-decline-kpmg-report-predicts Sat, 22 Nov 2014 00:01:00 EST Two-car households may be on the decline as urbanization increases, but they are far from disappearing, a KPMG report said this week. Popping the subprime bubble myth http://www.autonews.com/article/20141119/BLOG13/311199987/popping-the-subprime-bubble-myth Wed, 19 Nov 2014 00:01:00 EST 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. Financial openness can beat the lowest pricing, dealer says http://www.autonews.com/article/20141117/RETAIL07/311179984/financial-openness-can-beat-the-lowest-pricing-dealer-says Mon, 17 Nov 2014 00:01:00 EST Customers who apply for vehicle financing on driversselect.com get real information about interest rates, down payments and monthly payments that holds up once they arrive at the Dallas used-only dealership. Manheim stocks used cars for Sonic http://www.autonews.com/article/20141117/RETAIL04/311179965/manheim-stocks-used-cars-for-sonic Mon, 17 Nov 2014 00:01:00 EST Sonic Automotive is contracting with Manheim to buy and stock used vehicles at a new-car store near Denver as part of an unprecedented pilot program. How remarketers get the most from off-lease vehicles http://www.autonews.com/article/20141117/RETAIL04/311179983/how-remarketers-get-the-most-from-off-lease-vehicles Mon, 17 Nov 2014 00:01:00 EST With the number of off-lease vehicles returning to the market expected to rise steadily and sharply over the next several years, automakers say it is crucial to have programs that enable them and their dealers to sell used vehicles quickly and for... Hertz to restate results, change fleet-purchase strategy http://www.autonews.com/article/20141114/RETAIL04/141119886/hertz-to-restate-results-change-fleet-purchase-strategy Fri, 14 Nov 2014 14:22:33 EST Hertz said today it will revise financial statements from 2011 through 2013 and continue a review that has found $87 million of errors so far. AutoNation plans mid-December rollout of digital storefront in Florida http://www.autonews.com/article/20141112/RETAIL07/141119930/autonation-plans-mid-december-rollout-of-digital-storefront-in Wed, 12 Nov 2014 12:49:15 EST Customers of 30 AutoNation stores in south Florida next month will be able to use their credit cards to reserve a car they want to buy, as part of a purchase process that is largely online. %]