Automotive News Used Vehicles News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Fri, 9 Dec 2016 06:00:00 EST Beepi merges with mobile car-buying platform co-founded by Scott Painter http://www.autonews.com/article/20161207/RETAIL/161209867/beepi-merges-with-mobile-car-buying-platform-co-founded-by-scott Wed, 7 Dec 2016 16:10:23 EST Beepi Inc., an online used-vehicle marketplace, has merged with Fair.com, an upcoming mobile car-buying platform founded by former TrueCar CEO Scott Painter and two other industry veterans. Incentives, excess new-car inventory, put a drag on used vehicle values http://www.autonews.com/article/20161207/RETAIL04/161209871/incentives-excess-new-car-inventory-put-a-drag-on-used-vehicle-values Wed, 7 Dec 2016 15:13:42 EST An increase in new-car incentives and 'channel stuffing' -- excess new-vehicle inventory on dealers' lots -- caused used-vehicle prices to tumble 1 percent in November, according to one closely watched used-vehicle price index released... AutoNation's about-face draws fire from 2 Senate Democrats http://www.autonews.com/article/20161206/OEM11/161209904/autonations-about-face-draws-fire-from-2-senate-democrats Tue, 6 Dec 2016 15:42:18 EST A duo of Senate Democrats who've introduced legislation aimed at preventing the sale of used vehicles with unrepaired safety recalls blasted AutoNation Inc.'s reversal of its 16-month ban on the sale of such vehicles at its dealerships. Penske to expand used-car stores http://www.autonews.com/article/20161205/RETAIL04/312059953/penske-to-expand-used-car-stores Mon, 5 Dec 2016 00:01:00 EST Penske Automotive Group has launched its own line of standalone used-car stores with the planned purchase of CarSense, which owns five used-only stores in the Philadelphia, Pittsburgh and southern New Jersey. Texas auto auction company acquired by Capital Partners for XLerate Group http://www.autonews.com/article/20161202/RETAIL04/161209951/texas-auto-auction-company-acquired-by-capital-partners-for-xlerate Fri, 2 Dec 2016 17:30:21 EST Huron Capital Partners, a Detroit investment group, has acquired a Texas-based auto auction for one of its portfolio companies, the Indianapolis-based XLerate Group, which runs online and onsite auto auctions. Penske acquires used-only dealership group http://www.autonews.com/article/20161201/RETAIL04/161209989/penske-acquires-used-only-dealership-group Thu, 1 Dec 2016 12:45:56 EST Penske Automotive Group is adding used-only vehicle dealerships. AutoNation to leap into auction business http://www.autonews.com/article/20161128/RETAIL07/311289989/autonation-to-leap-into-auction-business Mon, 28 Nov 2016 00:01:00 EST AutoNation is getting into the auction business in a much bigger way with plans to open four AutoNation-branded auto auctions over the next two years, going to five sites from one now. CarMax expands used-car store footprint http://www.autonews.com/article/20161128/RETAIL07/311289988/carmax-expands-used-car-store-footprint Mon, 28 Nov 2016 00:01:00 EST CarMax, extending its lead over other publicly held auto retailers entering the stand-alone used-car store market, continues its expansion, opening its first store in Michigan this month. Store No. CPO sales boost F&I profits more than non-CPO used sales http://www.autonews.com/article/20161123/FINANCE_AND_INSURANCE/311239993/cpo-sales-boost-fi-profits-more-than-non-cpo-used-sales Wed, 23 Nov 2016 11:15:00 EST In an industry where some indicators are starting to turn negative, certified pre-owned sales can help to boost not only overall sales and customer service loyalty but FandI profits as well, experts say. CPO has room to grow, but awareness lags http://www.autonews.com/article/20161121/RETAIL04/311219945/cpo-has-room-to-grow-but-awareness-lags Mon, 21 Nov 2016 00:01:00 EST Off-lease vehicle volume is growing faster than CPO sales, leaving room for those sales to grow, remarketing analysts say. But they add that greater consumer awareness of certified programs is needed for those sales to reach their potential. Dealers undercharge for CPO vehicles, study finds http://www.autonews.com/article/20161115/RETAIL/161119928/dealers-undercharge-for-cpo-vehicles-study-finds Tue, 15 Nov 2016 09:00:00 EST Dealers underestimate how much extra consumers are willing to pay for a used vehicle that is certified, a new study found. FTC adds seven revisions to Used Car Rule http://www.autonews.com/article/20161110/RETAIL04/161119985/ftc-adds-seven-revisions-to-used-car-rule Thu, 10 Nov 2016 17:00:33 EST The Federal Trade Commission has updated its Used Car Rule, implementing seven revisions that cover a variety of necessary disclosures, the commission said on Thursday. ADESA, Manheim refocus on physical auctions in Chicago http://www.autonews.com/article/20161031/RETAIL04/310319997/adesa-manheim-refocus-on-physical-auctions-in-chicago Mon, 31 Oct 2016 00:01:00 EST The physical auction business in the Chicago area promises to be more competitive and a lot more interesting as the nation's two auction titans gear up to go head-to-head in that market. Retired rental supply to stay flat amid off-lease surge http://www.autonews.com/article/20161031/RETAIL04/310319996/retired-rental-supply-to-stay-flat-amid-off-lease-surge Mon, 31 Oct 2016 00:01:00 EST The overall volume of retired rental-fleet vehicles should be flat over the next several years, in sharp contrast to the expected surge in off-lease vehicles, forecasters say. Auction association keeps safety first http://www.autonews.com/article/20161031/RETAIL04/161029860/auction-association-keeps-safety-first Mon, 31 Oct 2016 00:01:00 EST Safety is serious business at auctions. So serious that Jerry Hinton, general manager of ADESA Portland in Portland, Ore. Reynolds invests in online used-car trade network http://www.autonews.com/article/20161024/RETAIL04/161029943/reynolds-invests-in-online-used-car-trade-network Mon, 24 Oct 2016 13:07:24 EST Dealership software giant Reynolds and Reynolds has taken a minority, yet 'significant' stake in the Appraisal Lane, a startup online used-car trade network. No October surprises for this used-vehicle price watcher http://www.autonews.com/article/20161007/BLOG06/161009874/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 http://www.autonews.com/article/20160928/FINANCE_AND_INSURANCE/160929838/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 http://www.autonews.com/article/20160926/RETAIL04/309269965/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 http://www.autonews.com/article/20160926/RETAIL04/309269964/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 http://www.autonews.com/article/20160912/FINANCE_AND_INSURANCE/309129996/growing-cpo-volume-offers-fi-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? http://www.autonews.com/article/20160912/FINANCE_AND_INSURANCE/160909867/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 http://www.autonews.com/article/20160908/RETAIL04/160909849/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 http://www.autonews.com/article/20160907/FINANCE_AND_INSURANCE/160909895/dealertrack-fi-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 http://www.autonews.com/article/20160829/RETAIL04/160829905/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 http://www.autonews.com/article/20160829/RETAIL04/308299997/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 http://www.autonews.com/article/20160829/RETAIL04/308299999/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 http://www.autonews.com/article/20160822/RETAIL07/308229977/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? http://www.autonews.com/article/20160822/RETAIL04/308229972/wheres-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 http://www.autonews.com/article/20160822/RETAIL04/308229966/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 http://www.autonews.com/article/20160816/RETAIL04/160819885/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 http://www.autonews.com/article/20160815/RETAIL/160819962/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 http://www.autonews.com/article/20160808/RETAIL07/308089984/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 http://www.autonews.com/article/20160808/RETAIL/160809852/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 http://www.autonews.com/article/20160804/RETAIL04/160809881/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 http://www.autonews.com/article/20160803/RETAIL03/160809922/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 http://www.autonews.com/article/20160727/RETAIL04/160729863/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 http://www.autonews.com/article/20160725/RETAIL/307259988/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 http://www.autonews.com/article/20160725/RETAIL01/307259992/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 http://www.autonews.com/article/20160725/RETAIL07/160729961/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? http://www.autonews.com/article/20160710/RETAIL04/307119923/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 http://www.autonews.com/article/20160701/RETAIL04/160709997/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 http://www.autonews.com/article/20160629/RETAIL04/160629825/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 http://www.autonews.com/article/20160627/RETAIL04/306279982/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 http://www.autonews.com/article/20160627/RETAIL04/306279996/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 http://www.autonews.com/article/20160627/RETAIL04/306279994/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 http://www.autonews.com/article/20160627/RETAIL04/306279997/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 http://www.autonews.com/article/20160621/RETAIL/160629954/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 http://www.autonews.com/article/20160614/VIDEO/306149947/first-shift-nissans-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 http://www.autonews.com/article/20160608/VIDEO/306089904/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.