Automotive News Used Vehicles News Feed News, blogs and commentary from the leader in North American automotive news en-us Mon, 24 Oct 2016 06:00:00 EST No October surprises for this used-vehicle price watcher Fri, 7 Oct 2016 15:39:32 EST Going into 2016, there were widespread expectations that the influx of off-lease cars and trucks hitting the market would ding used-vehicle values. But that hasn't really happened. So will used prices fall in the fall? Lenders overlook key remarketing data, study finds Wed, 28 Sep 2016 11:45:00 EST Most auto lenders surveyed by Black Book said remarketing is a top strategy for handling lease returns, but few are making use of residual data, deemed key to developing an effective remarketing strategy. Beepi enters market for older used cars Mon, 26 Sep 2016 00:01:00 EST Beepi, an online used-car marketplace that competes with dealerships, is looking to expand into older used cars. The new service, called Beepi Blue, will buy those cars from private individuals and sell them at wholesale auctions. Kia expects big boost in CPO Mon, 26 Sep 2016 00:01:00 EST Kia expects to sell 75,000 CPO units this year. More off-lease vehicles, more CPO listings online and more full-time CPO reps calling on dealers can make that happen, said Kia's manager of CPO and remarketing. Growing CPO volume offers F&I opportunities Mon, 12 Sep 2016 00:01:00 EST Certified pre-owned sales are growing, giving FandI managers a fresh opportunity to offer warranty wraparounds, service contracts and appearance products that keep vehicles in like-new condition. Will prime buyers dent service plans? Mon, 12 Sep 2016 00:01:00 EST Consumers' trend toward used cars, especially certified pre-owned, could eventually slow the growth in sales of extended service contracts. Waiting for used-vehicle prices to fall? Not yet Thu, 8 Sep 2016 15:10:42 EST Used-vehicle prices, drawing strength from dealers' efficient used-car operations and higher new-vehicle transaction prices, continue to defy the gravitational pull of a growing supply of off-lease vehicles. Dealertrack, F&I Express team up Wed, 7 Sep 2016 11:30:00 EST Dealertrack and FandI Express have partnered to offer dealerships connections with more than 130 FandI product providers. Lexus leads in converting CPO shoppers Mon, 29 Aug 2016 00:01:00 EST Lexus dealerships do the best job of converting shoppers who consider certified used vehicles into CPO buyers. Used-car shops, by the numbers Mon, 29 Aug 2016 00:01:00 EST The NIADA Used Car Industry Report 2016 offers multiple insights into the used-only stores that franchise dealerships' used-vehicle departments compete with daily. Avis taps into TrueCar for used-car sales Mon, 29 Aug 2016 00:01:00 EST A partnership between Avis Budget and TrueCar is helping the rental-car company sell more retired rental cars directly to consumers for more money than it can get from selling the vehicles at traditional auto auctions. Louisiana flooding takes toll on dealerships' employees Mon, 22 Aug 2016 00:01:00 EST As floodwaters slowly recede in the area around Baton Rouge, La., auto dealerships are trying to do business with a limited number of employees, many of whom are dealing with losses of their own. Where's that used-vehicle price plunge? Mon, 22 Aug 2016 00:01:00 EST After used-vehicle prices went up steadily over the last few years, forecasters agreed that those prices would fall in 2016. But that hasn't happened -- yet. Here's why. Eying the link between new, used prices Mon, 22 Aug 2016 00:01:00 EST Anything that reduces the prices of new vehicles also reduces the prices of used vehicles. That's why used-price forecasters have their eye on rising new-vehicle incentives. 'Moderate' number of damaged vehicles expected from Louisiana flooding Tue, 16 Aug 2016 11:01:20 EST As rivers across much of southern Louisiana slowly recede from record high levels, it remains unclear how many vehicles have been damaged or destroyed because of flooding. Used-car prices start to soften Mon, 15 Aug 2016 00:01:00 EST After showing strength in the first half of the year, used-vehicle prices are beginning to soften. Cox Automotive: A 'house of brands' becomes a retail powerhouse Mon, 8 Aug 2016 00:01:00 EST Seemingly overnight, Cox Automotive has burst on the scene as a broad dealer-services provider that touches three out of four vehicle transactions in some way. Cox allows competition among subsidiaries Mon, 8 Aug 2016 00:01:00 EST Stockwave, an auction software, goes after the vehicles that best fit a dealership's needs, even if those vehicles are at Manheim's competitors. ADESA buoys KAR Auction Services Q2 results Thu, 4 Aug 2016 11:46:10 EST Auction site acquisitions and an influx of off-lease vehicles lifted second-quarter profits, revenue and unit sales at ADESA. Enterprise does more than rent cars -- and now its ads say that Wed, 3 Aug 2016 11:07:05 EST Enterprise doesn't want to just pick you up. It wants to sell you a car, too. Even though the rental car giant has been selling vehicles since 1962, that side of its business has been mostly absent from its TV advertising. That will change this week. NextGear Capital will finance vehicle purchases at CarMax auctions Wed, 27 Jul 2016 12:31:54 EST NextGear Capital will finance dealers' purchases of used vehicles at CarMax's 68 auction locations starting Aug. 8. Store expects its used-car leasing to grow Mon, 25 Jul 2016 00:01:00 EST Dealer Wes Lutz took used-vehicle leasing into his own hands. He offers his customers leases on late-model used cars and trucks that, in some cases, can cut payments in half compared with purchasing a new vehicle of the same make and model. Toyota CPO surge boosts sales industrywide Mon, 25 Jul 2016 00:01:00 EST Industrywide first-half CPO sales grew 4 percent, according to data compiled by the Automotive News Data Center. Toyota division helped to lift the total, as its CPO sales climbed 15 percent. No auctions for this used-car manager Mon, 25 Jul 2016 00:01:00 EST A pre-owned sales manager at a Buick-GMC dealership in Ohio pays staffers $200 when they find the vehicles he wants. Can Uber and Lyft ease used-car glut? Sun, 10 Jul 2016 00:01:00 EST Leasing cars to Lyft and Uber could give automakers another much-needed outlet to help manage an expected influx of late-model used cars. Hertz signs deals with Uber, Lyft to supply cars to drivers Fri, 1 Jul 2016 06:16:55 EST Hertz reached agreements with Uber Technologies and Lyft, the two largest U.S. ride-hailing startups, to supply drivers with vehicles the rental-car company rotates out of its fleet. Vroom will make cash offers to private sellers on eBay Wed, 29 Jun 2016 12:00:00 EST Online veteran eBay and online upstart Vroom have teamed up to pilot a program that will give eBay customers another option to sell their vehicles for cash and Vroom another way to source vehicles for its used-car operations. These guys want your used-vehicle sales, profits Mon, 27 Jun 2016 00:01:00 EST Beepi. Shift. Carvana. Vroom. Don't let the clever names fool you. These tech start-ups aim to take a bite out of the used-vehicle retail industry's lunch. Customers, off-lease tide prompt auction growth Mon, 27 Jun 2016 00:01:00 EST Independent auctions are growing their businesses to keep up with customer demands for vehicle reconditioning, body shop and other services and storage space. But they need to strike a balance between growing, and growing too much. Auction tool aims to uncover open recalls Mon, 27 Jun 2016 00:01:00 EST AutoCheck Auctions is testing a new recall report service for auction houses. Disclosing vehicles that have open recalls to auctions helps dealers make informed decisions about wholesale used-vehicle purchases, the company says. CarMax adds auction sites, eases registration Mon, 27 Jun 2016 00:01:00 EST CarMax is adding auctions and making it easier for wholesale customers to register to buy cars and trucks at the company's 67 physical auction sites. CarMax quarterly earnings slide 3.6% despite revenue gain Tue, 21 Jun 2016 14:37:21 EST CarMax's latest quarterly earnings slid 3.6 percent, dragged down by expenses related to store openings, share-based compensation and hail damage to vehicles at the company's stores in Texas. First Shift: Nissan's ethanol fuel cell Tue, 14 Jun 2016 00:01:00 EST Nissan develops ethanol-powered fuel cell; Takata sheds auto stocks; BMW remarketing site open to other dealers; GMC acts to prevent hot-car deaths; Steering wheel's last go-round? AutoNews Now: Chevy ad throws stones at F-150 Wed, 8 Jun 2016 00:01:00 EST Chevy ad throws stones at F-150; Detroit 3 summer plans; Arrest in UAW shooting; Trump's vanishing GM attack; Legal setback for Darvish; A used-vehicle surprise; Musk on Panasonic. App helps dealers make fast bids for consumers' vehicles Mon, 30 May 2016 00:01:00 EST and Pearl Technology have partnered to help dealers buy consumer-owned used vehicles. But dealers have to be quick to win the deal. Q auto&'s smaller stores yield bigger results Mon, 30 May 2016 00:01:00 EST Asbury will add two smaller stand-alone used-vehicle stores in the Tampa area this summer, bringing its total there to four, after having closed its only large-format store in Jacksonville, Fla., in February. CarGurus validates used-car prices on dealership sites Mon, 30 May 2016 00:01:00 EST CarGurus has become the latest third-party shopping site to allow dealers to place its rating of used-vehicle prices - such as 'good deal' or 'great deal' - directly on a dealership website's inventory pages. U.S. residuals predicted to drop 4.2 percentage points, Black Book says Tue, 17 May 2016 15:24:13 EST Black Book predicts a drop of 4.2 percentage points in used-vehicle residual values over the next three years. New cars and trucks sold in the U.S. in May and June will retain about 47. Full-size pickups depreciating faster (but not much) Mon, 16 May 2016 00:01:00 EST Prices of used full-size pickups are still high, but their rate of depreciation is quickening, analysts say. They blame the quickening price slide on two factors: a rising supply of used pickups and higher incentives on new pickups. Is your dealership's service staff ready for an off-lease tsunami? Mon, 16 May 2016 00:01:00 EST The coming wave of off-lease vehicles means dealerships need to get ready now for not only more service work, but a shift in the nature of that work and who dealerships should hire to do it, experts warn. Manheim expands vehicle inspections to meet selling dealers' needs Tue, 10 May 2016 16:19:45 EST Manheim is expanding its vehicle inspection services -- and testing enhancements to those services -- to accommodate the growing number of dealers who want condition reports on vehicles they buy and sell at auction, the company said today. Certified leasing helps dealer ease glut of returning vehicles Mon, 9 May 2016 00:01:00 EST In anticipation of a glut of returning vehicles, Steve Zion began revving certified used-vehicle leasing a year and a half ago. Now he leases about 20 certified used vehicles a month. AutoNation changes recall policy to allow some auctions Fri, 22 Apr 2016 14:45:38 EST AutoNation is changing one of the key tenets of its policy not to sell any vehicle with an open recall. The retailer now will allow some recalled vehicles to go to wholesale auction if lack of replacement parts causes lengthy repair times. GM exec: Used-car portal will keep dealers ahead of trends Mon, 18 Apr 2016 00:01:00 EST The GM Factory Pre-Owned Collection's strategy is to help GM manage its flow of off-lease and retired rental vehicles now, with an eye on how consumers want to buy used vehicles going forward, said the program's manager. Too many used cars? Lease them Sat, 16 Apr 2016 00:01:00 EST To cope with an industrywide flood of 3.1 million off-lease vehicles returning to the market this year, some captives and other lenders are offering leases on used and certified pre-owned vehicles.