Automotive News Used Vehicles News Feed News, blogs and commentary from the leader in North American automotive news en-us Mon, 22 Dec 2014 06:00:00 EST 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 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 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 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 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 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 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 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? 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 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 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 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 Mon, 17 Nov 2014 00:01:00 EST Customers who apply for vehicle financing on 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 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 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 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 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. Online financial transparency trumps lowest price, dealer says Wed, 12 Nov 2014 10:00:00 EST Customers who apply for vehicle financing on get real information about interest rates, down payments and monthly payments that does not change once they arrive at the Dallas used-only dealership, CEO Steve Hall said. Shoppers willing to pay smaller certified-used premium, study shows Mon, 10 Nov 2014 00:01:00 EST New-car shoppers in's 2014 Certified Pre-Owned Study said they are willing to pay a $2,032 premium for a certified used vehicle, vs. one that isn't. Rising off-lease volume hits ADESA lanes Mon, 10 Nov 2014 00:01:00 EST The number of vehicles sold at ADESA's physical auctions rose 4 percent in the third quarter as a much-anticipated rising volume of off-lease vehicles began to be felt in the remarketing world, said the CEO of the auction company's parent. ADESA doubles Q3 profits on growing auction volume Wed, 5 Nov 2014 14:29:27 EST KAR Auction Services, parent of ADESA, said its third-quarter net income more than doubled to $47 million from $22 million a year earlier, on revenues that increased 10 percent to $589 million. AutoNation halts sales of used cars under Takata recalls Tue, 28 Oct 2014 12:51:28 EST AutoNation has stopped selling used vehicles that are subject to the Takata airbag recalls and warnings. The action affects fewer than 400 cars, AutoNation said today. Q auto's sales strategy: 1 person, 1 price Mon, 27 Oct 2014 00:01:00 EST Casey Coffey said the goal at Q auto -- Asbury Automotive Group Inc.'s new line of used-only dealerships -- is to stock an array of quality used vehicles and make quick, no-hassle sales to consumers. Surge of used cars stings Mon, 27 Oct 2014 00:01:00 EST A rising supply of used vehicles, particularly late-model cars and trucks coming off lease, already is hitting some companies in their pocket books. That supply -- and the number of companies affected - will continue to grow. Brace yourself for a flood of used vehicles Mon, 27 Oct 2014 00:01:00 EST Prices on used vehicles are falling and will keep falling as supplies of late-model used cars and trucks return to normal levels. We're seeing the end of a long drought of used vehicles caused by the recession. M-B captive hikes online sales of off-lease cars Mon, 27 Oct 2014 00:01:00 EST An enhancement to Mercedes-Benz Financial Services' 24/7 online remarketing tool has helped the captive finance company boost online sales of off-lease vehicles to dealers. Why Dale Pollak recommends a call center that employs blind workers Tue, 14 Oct 2014 06:42:52 EST Near the end of a conference in Chicago, vAuto founder Dale Pollak made a very personal appeal to the 170 hand-picked dealers present. Pickups defy fall in used-vehicle prices Fri, 10 Oct 2014 13:59:34 EST In September, overall used-vehicle prices fell for the fifth month in a row, but prices of used pickups rose sharply. It's all part of a healthy overall market, said Tom Webb, chief economist at auction giant Manheim. Tesla's trump card? Used cars Mon, 6 Oct 2014 00:01:00 EST Tesla is developing a program to sell the Model S secondhand in a bid to lower the cost of entry for the $71,070 sedan and unlock the earnings potential of Tesla's factory-owned retail network. Ray Lambrecht, dealer who auctioned 500 vintage Chevys, dies at 96 Thu, 2 Oct 2014 16:50:43 EST Ray Lambrecht, the Nebraska Chevrolet dealer who auctioned off more than 500 cars last year, died Sept. 22 at age 96, his family confirmed to The New York Times on Tuesday. AutoGrade schools the auction industry Mon, 29 Sep 2014 00:01:00 EST Adopted by the nation's largest auction companies and endorsed by NAAA, AutoGrade is an electronic vehicle-condition reporting system that is being touted as a way to reduce human error and subjectivity when describing vehicle condition and damage. CPO program standards must be strictly enforced Mon, 29 Sep 2014 00:01:00 EST It's unfortunate that automakers must sometimes temporarily bar an errant dealer from CPO participation, but it's a necessary step. General Motors and American Honda Motor Co. had no choice. Honda, GM crack down on certified-used rule benders Mon, 22 Sep 2014 00:01:00 EST Honda and GM, among others, are closely monitoring dealerships' compliance with certified used-vehicle programs -- and cracking down on rule breakers. New NAAA chief steps in as volume steps up Mon, 22 Sep 2014 00:01:00 EST The past few years have been rough for the auto auction industry. But things are looking up, said Ellie Johnson, president-elect of the National Auto Auction Association. JLR launches sites targeting certified-used shoppers Mon, 22 Sep 2014 00:01:00 EST Jaguar Land Rover has launched dedicated websites for shoppers of certified pre-owned vehicles as part of its effort to boost its dealers' used-vehicle sales and to prepare for rising off-lease volumes. Manheim rolls out program that lets dealers return vehicles Thu, 11 Sep 2014 12:15:00 EST Dealers who buy almost any vehicle at a Manheim auction location also can purchase the right to return those vehicles for any reason for up 21 days or 500 miles, whichever comes first. Wholesale used prices down for 4th straight month, Manheim Index shows Mon, 8 Sep 2014 15:34:53 EST Wholesale prices of used-vehicles declined for the fourth consecutive month in August, according to the Manheim Used Vehicle Index released today. CarMax recruiting for more than 1,000 jobs Wed, 3 Sep 2014 18:33:53 EST CarMax said it is recruiting for more than 1,000 positions to fill across the country. The used-car retailer said in a statement Wednesday it is offering full- and part-time permanent positions. Severe weather spurs auction expansion Mon, 25 Aug 2014 00:01:00 EST Insurance Auto Auctions Inc., which specializes in salvage vehicles and those donated to charity, has expanded its auction site outside Omaha, Neb., in response to growing volume. Manheim enters high-tech lane Mon, 25 Aug 2014 00:01:00 EST Manheim, the nation's largest auto-auction company, is spending $100 million over three years to give every aspect of its operations a high-tech makeover. Why Honda's John Mendel wants customers to buy a Treasury bond on wheels Tue, 19 Aug 2014 15:28:38 EST Jittery stock market? Honda's John Mendel wants you to take your money out of Google, Apple and Tesla -- and put it in Hondas. Not Honda stock. Actual Hondas. They're like Treasury bonds on wheels, with cupholders. Outside companies make inroads with inventory software Mon, 18 Aug 2014 00:01:00 EST Independent automotive software companies have begun to recognize the potential for inventory management analytics and now offer their own tools, with a price tag attached. Manheim enters Brazil with acquisition of auction company CarBizz Wed, 13 Aug 2014 14:51:19 EST Manheim, the largest auto auction company in the United States, has expanded its global operations into South America with the acquisition of Brazilian auction company CarBizz. Happy Birthday, boss! Let's open some stores Mon, 28 Jul 2014 00:01:00 EST Sonic Automotive President Scott Smith will get a special birthday present when he turns 47 on Oct. 20. Honda pushes dealers for buyers' signatures on airbag liability Mon, 28 Jul 2014 00:01:00 EST "I understand that if this used car I'm buying is in a crash, the airbag could kill me." That's the gist of a document that American Honda Motor Co. wants its dealers to require buyers of certain 2001-11 used Honda and Acura vehicles to sign. AutoTrader, Manheim rebrand under 1 entity Mon, 28 Jul 2014 00:01:00 EST Manheim and AutoTrader Group, a collection of digital automotive marketing and software companies, are now part of Cox Automotive, according to signage and employees representing the various properties at a recent trade show in Florida. Auction Broadcasting sites get makeovers Mon, 28 Jul 2014 00:01:00 EST Auction Broadcasting Co., expecting to increase its sales at least 20 percent in 2015, will improve seven of its eight auction sites in various ways by year end. Certified-used sales fall in June, expected to rise for year Mon, 28 Jul 2014 00:01:00 EST Sales of certified used vehicles slipped in June for the first time in a year and a half. But analysts still predict certified sales will rise overall this year. Used-vehicle prices soften, demand strong Mon, 14 Jul 2014 00:01:00 EST Used-vehicle prices are beginning to soften as more units come off lease, but they remain above last year's levels and aren't depreciating as fast as in pre-recession days. CarMax cleared after refusing sale to used-car dealer Mon, 30 Jun 2014 00:01:00 EST A federal judge in Georgia has tossed a lawsuit by a used-car dealer who claims an Atlanta-area CarMax store wrongfully refused to sell him a new 2013 Jeep Wrangler. %]