Automotive News Used Vehicles News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Tue, 22 May 2018 06:00:00 EST Used-car retailer Carvana Q1 net loss expands http://www.autonews.com/article/20180510/RETAIL/180519976/carvana-q1-earnings-losses-vending-machine Thu, 10 May 2018 13:53:32 EST Online used-car retailer Carvana's first-quarter net loss widened to nearly $53 million, while revenue and vehicle sales both more than doubled to records. Used car wholesalers are evolving to stay in the game http://www.autonews.com/article/20180430/RETAIL04/180439996/used-car-dealers-wholesalers Mon, 30 Apr 2018 00:01:00 EST The auction industry is likely to see fewer traditional wholesalers going forward, but they are evolving into online and smartphone app-based operations. Used-car auction onboard the USS Midway http://www.autonews.com/article/20180423/RETAIL04/180429953/used-car-auction-midway Mon, 23 Apr 2018 00:01:00 EST It was all hands on deck for an auction of used Lexus and Toyota vehicles on the retired aircraft carrier USS Midway. Physical used-car auctions have an online role http://www.autonews.com/article/20180423/RETAIL04/180429984/adesa-manheim-used-car-auctions Mon, 23 Apr 2018 00:01:00 EST Online auctions will continue to make inroads, but physical sites remain a necessity, a study prepared for the National Auto Auction Association found. Used-car retailer Shift partners with Cox's Manheim http://www.autonews.com/article/20180404/RETAIL/180409848/used-car-retailer-shift-partners-with-cox-manheim Wed, 4 Apr 2018 11:43:05 EST Shift Technologies, an online used-car retailer, is partnering with Manheim for services such as vehicle storage, reconditioning, imaging and inspections. Small cars, big interest -- for now http://www.autonews.com/article/20180402/RETAIL05/180409967/small-cars-auction-buyers Mon, 2 Apr 2018 00:01:00 EST Used small cars drew lots of buyers at auctions March 16-23, pushing prices up the most in two years, as used-car dealers loaded up ahead of tax season. Auction group guidelines target safety in the lanes http://www.autonews.com/article/20180326/RETAIL04/180329908/auction-group-guidelines-safety-lanes Mon, 26 Mar 2018 00:01:00 EST The National Auto Auction Association's new safety guidelines are aimed in part at preventing dealership employees from distracting drivers in the lanes. 2 Florida stores say digital tags boost efficiency, streamline sales process http://www.autonews.com/article/20180326/RETAIL07/180329909/digital-tags-boost-efficiency-sales Mon, 26 Mar 2018 00:01:00 EST Digital price tags for vehicles bolster the one-price, no-haggle policy at two Florida Audi dealerships and shorten the buying process for customers. AutoNews Now: How auto industry can lose its sexist image http://www.autonews.com/article/20180324/VIDEO/303249996/autonews-now-how-auto-industry-can-lose-its-sexist-image Sat, 24 Mar 2018 14:00:00 EST At NADA: How auto industry can shed its sexist image; Carvana's big challenge; A virtual aide named Nexi; Leadership tips from legendary football coach Nick Saban. Audi to tweak CPO program to boost dealer profitability http://www.autonews.com/article/20180323/RETAIL06/180329776/audi-to-tweak-cpo-program-to-boost-dealer-profitability Fri, 23 Mar 2018 18:20:00 EST Audi in the next 60 days plans to tweak to its certified pre-owned vehicle program to help improve dealer profitability, Audi of America President Scott Keogh told Automotive News. Find a CPO hatchback online? Not so easy http://www.autonews.com/article/20180319/RETAIL07/180319834/frustrations-in-finding-cpo-hatchback-online Mon, 19 Mar 2018 00:01:00 EST A online search for the perfect CPO hatchback quickly turned into a technological nightmare, including accusations of attempted fraud. Mercedes-Benz pushing CPO sales http://www.autonews.com/article/20180312/RETAIL01/180319966/mercedes-benz-certified-sales-off-lease Mon, 12 Mar 2018 00:01:00 EST As the number of vehicles coming off lease rises, Mercedes is incentivizing dealerships and consumers to push certified preowned sales. Carvana's Q4 net loss widens to $47.2 million http://www.autonews.com/article/20180307/RETAIL/180309562/carvana-q4-losses-widen-used-cars Wed, 7 Mar 2018 16:38:14 EST Carvana's fourth-quarter net loss widened, while strong sales and revenue growth failed to match the retailer's prior guidance to Wall Street, which was not amused. Hyundai will list all CPO vehicles on Carfax http://www.autonews.com/article/20180306/RETAIL/180309600/hyundai-carfax-cpo-used-marketing Tue, 6 Mar 2018 18:01:54 EST Hyundai Motor America will start posting all of its dealerships' certified pre-owned vehicles for sale on Carfax's used-vehicle listings. More off-lease crossovers could hurt new-vehicle sales http://www.autonews.com/article/20180226/RETAIL04/180229931/off-lease-vehicles-sales Mon, 26 Feb 2018 00:01:00 EST Dealers will have more used SUVs and crossovers to sell in 2018, but the greater supply coming off lease may also squeeze margins and volume on vehicles. Net soars at ADESA's parent on tax gains http://www.autonews.com/article/20180220/RETAIL04/180229975/net-soars-at-adesas-parent-on-tax-gains Tue, 20 Feb 2018 17:50:57 EST Net income at KAR Auction Services, ADESA's parent, soared in the fourth quarter because of a special gain related to the changes in federal corporate taxes. KAR buys STRATIM to boost ride-sharing fleet management business http://www.autonews.com/article/20180207/MOBILITY/180209827/kar-buys-stratim Wed, 7 Feb 2018 09:10:06 EST KAR Auction Services has acquired fleet management software company Stratim. The deal will give KAR an entry into the nascent industry of providing services to ride-sharing and other transportation-as-a-service providers. No letup in blitz of new products, Manheim says http://www.autonews.com/article/20180129/RETAIL04/180129815/manheim-auction-technology-digital Mon, 29 Jan 2018 00:01:00 EST Manheim will extend rapid introductions of digital enhancements into 2018, as the technology race among auctions rages. Slowing growth in off-lease volumes, better mix will help in '18 http://www.autonews.com/article/20180129/RETAIL04/180129817/used-vehicles-sales-dealers-retail Mon, 29 Jan 2018 00:01:00 EST Used-vehicle sales will grow modestly to 39.5 million units in 2018, driven by a more desirable mix of off-lease vehicles and consumers with more take-home pay. Hammer named to head ADESA http://www.autonews.com/article/20180125/RETAIL/180129829/kar-adesa-hammer-ceo Thu, 25 Jan 2018 19:35:43 EST John Hammer has been named president of the ADESA unit of KAR Auction Services, effective Feb. 26. He replaces Stephane St-Hilaire, who resigned. Cheap leases take toll on used market http://www.autonews.com/article/20180115/RETAIL04/180119879/used-midsize-sedans-auctions Mon, 15 Jan 2018 00:01:00 EST It's easy to see why wholesale prices for used midsize sedans are declining: aggressively priced, subvented leases adopted two and three years ago to clear out the cars as consumer preferences shifted to crossovers and SUVs have begun to ripple... The cloudy demographic future for collectible cars http://www.autonews.com/article/20171222/BLOG06/171229923/collectible-cars-boomers-auction-prices Fri, 22 Dec 2017 10:46:36 EST Do the next generations really want to inherit all those collectible cars from their baby boomer parents? Auction prices offer a hint. KAR's TradeRev adds features http://www.autonews.com/article/20171207/RETAIL04/171209807/kars-traderev-adds-features Thu, 7 Dec 2017 15:58:25 EST A new version of TradeRev's used-vehicle purchasing mobile app, from KAR Auction Services, has added dealer-support features. Hertz's bid to rely less on auctions starts to pay off http://www.autonews.com/article/20171127/RETAIL04/171129814/hertz-auctions-retired-vehicles-used-cars Mon, 27 Nov 2017 00:01:00 EST Hertz disposed of a growing share of its retired vehicles through channels other than auctions in the third quarter, and expects that growth to continue. Auctions offer peace of mind with purchases http://www.autonews.com/article/20171127/RETAIL04/171129880/auctions-offer-peace-of-mind-with-purchases Mon, 27 Nov 2017 00:01:00 EST Auctions such as Manheim and Ally's SmartAuction are expanding their assurances to buyers that if something goes wrong, they will be made right. AutoNews Now: Price-fixing payouts for dealers http://www.autonews.com/article/20171113/VIDEO/311139969/autonews-now-price-fixing-payouts-for-dealers Mon, 13 Nov 2017 00:01:00 EST Price-fixing payouts for dealers; 'Book by Cadillac' expands; Slowdown in CPO sales; Ford, Lincoln captives capture top ratings; Geely's flying-car buy; CarMax makes tasty offer. Safety first for next auction group leader http://www.autonews.com/article/20171113/RETAIL04/171119942/naaa-president-safety-first-auction Mon, 13 Nov 2017 00:01:00 EST NAAA's board is expected to vote on mandatory safety standards for auction members at this month's annual convention, changing how buyers can act in the lane. KAR stock price rises on strong Q3, higher dividend and forecast http://www.autonews.com/article/20171101/RETAIL04/171109986/kar-adesa-earnings-q3-stockprice Wed, 1 Nov 2017 10:19:19 EST KAR Auction Services' stock price rose Wednesday after the company reported solid third-quarter results. Scott Painter's startup Fair gets nearly $1 billion lift http://www.autonews.com/article/20171030/RETAIL04/171039992/scott-painters-startup-gets-big-lift Mon, 30 Oct 2017 00:01:00 EST A startup trying to create a new channel for selling used vehicles just got almost $1 billion -- and a de facto endorsement from two major industry players. Storm-driven demand expected to fade soon http://www.autonews.com/article/20171030/RETAIL04/171039993/storm-driven-demand-expected-to-fade Mon, 30 Oct 2017 00:01:00 EST Used-vehicle buyers replacing rides lost in Hurricanes Harvey and Irma are boosting prices and trimming supplies, but the end of the storm surge is in sight. Used-car fraud ring targets automated payoff systems http://www.autonews.com/article/20171028/RETAIL04/171039994/used-car-fraud-ring-targets-payment Sat, 28 Oct 2017 00:01:00 EST Dealers and lenders are getting stung by a new type of used-vehicle sales fraud that takes advantage of banks' automated payoff systems. 6-figure pickup? It's nothing new http://www.autonews.com/article/20171023/OEM03/171029926/6-figure-pickup-its-nothing-new Mon, 23 Oct 2017 00:01:00 EST Turns out, there's already a healthy market for six-figure pickups. Fast recon boosts inventory of high-quality used cars http://www.autonews.com/article/20171023/RETAIL05/171029987/used-cars-reconditioning-dealerships Mon, 23 Oct 2017 00:01:00 EST As profit margins for new vehicles shrink, dealerships are looking to make more money from selling used cars and trucks. The number of U.S. vehicles coming off lease represents a treasure trove of potential inventory. An army of tow trucks tackles Houston's flood-damaged cars http://www.autonews.com/article/20170906/RETAIL04/170909852/an-army-of-tow-trucks-tackles-houstons-flood-damaged-cars Wed, 6 Sep 2017 14:21:14 EST How do you remove hundreds of thousands of damaged cars from a massive city still mired in water and muck? Tow-truck driver Alex Toll will tell you: one vehicle at a time. Big dealer groups split on used-car ventures http://www.autonews.com/article/20170828/RETAIL04/170829850/split-used-car-ventures Mon, 28 Aug 2017 00:01:00 EST The publicly traded dealership groups are sharply split over stand-alone used-vehicle stores. Here's what drives their thinking. CPO streak may be ending http://www.autonews.com/article/20170828/RETAIL04/170829851/cpo-streak-may-be-ending Mon, 28 Aug 2017 00:01:00 EST After several record years, certified pre-owned vehicle sales have slipped into neutral. Some, mostly smaller, players are still gaining, but several market leaders are in retreat. Rock Connections to handle used car sales calls for Vroom http://www.autonews.com/article/20170822/RETAIL04/170829904/rock-connections-to-handle-used-car-sales-calls-for-vroom Tue, 22 Aug 2017 16:05:57 EST Rock Connections is adding online used car retailer Vroom to its client list as the downtown Detroit call center continues to expand its local workforce. Manheim bolsters its vehicle-valuation tool http://www.autonews.com/article/20170817/RETAIL04/170819827/manheim-bolsters-its-vehicle-valuation-tool Thu, 17 Aug 2017 10:50:55 EST The Manheim Market Report has been bolstered to deliver more detailed valuations of used vehicles and thus streamline the remarketing process.