Automotive News Used Vehicles News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Sun, 25 Feb 2018 06:00:00 EST 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. Are we coping with falling used-car prices? Depends whom you ask http://www.autonews.com/article/20170815/BLOG06/170819872/are-we-coping-with-falling-used-car-prices-depends-whom-you-ask Tue, 15 Aug 2017 14:56:28 EST Declining used-vehicle prices bludgeoned second-quarter profits at Hertz and Avis Budget. Here's what they're doing about it. Uncertainty grips rental-car agencies http://www.autonews.com/article/20170731/RETAIL04/170739956/uncertainty-grips-rental-car-agencies Mon, 31 Jul 2017 00:01:00 EST The immediate challenge is a declining new-vehicle market. Long term, the companies face disruptions to their business model from sharing services and autonomous technology. Used-car market weathers the storm http://www.autonews.com/article/20170731/RETAIL04/170739969/used-car-market-weathers-the-storm Mon, 31 Jul 2017 00:01:00 EST The market was bolstered in June by a dip in gasoline prices and an economy that remained strong, giving potential buyers confidence to buy used vehicles. Manheim broadens reach with small auction sites http://www.autonews.com/article/20170731/RETAIL04/170739968/manheim-broadens-reach-small-sites Mon, 31 Jul 2017 00:01:00 EST Each of the locations will run one- to four-lane auctions #8212; the smallest Manheim has ever used. Asbury Automotive exits its used-only operations http://www.autonews.com/article/20170725/RETAIL04/170729838/asbury-automotive-exits-its-used-only-operations Tue, 25 Jul 2017 15:32:25 EST Asbury Automotive is closing its remaining Q auto stand-alone used-car stores to redirect investments that will deliver better returns. Carvana brings online used-car sales to Detroit http://www.autonews.com/article/20170719/RETAIL04/170719706/carvana-brings-online-used-car-sales-to-detroit Wed, 19 Jul 2017 06:00:00 EST Online used-vehicle retailer Carvana is opening up shop in Detroit, its 32nd U.S. market, vowing to relieve consumers of the need to spend time at dealerships. BMW moves deeper into Silicon Valley with Shift investment http://www.autonews.com/article/20170719/RETAIL04/170719688/bmw-moves-deeper-into-silicon-valley-with-shift-investment Wed, 19 Jul 2017 12:44:07 EST BMW's venture capital fund poured $38 million in a Silicon Valley online used-car startup focused on younger buyers, the company said Wednesday. Audi made an ad in China comparing a wife to a used car -- it's not going over well http://www.autonews.com/article/20170718/RETAIL03/170719718/audi-made-an-ad-in-china-comparing-a-wife-to-a-used-car-its-not Tue, 18 Jul 2017 15:17:49 EST In an Audi commercial from China, a mother-in-law interrupts a wedding ceremony to inspect the bride, checking whether she's up to standard. The scene was used in an ad promoting used Audis. Kelley Blue Book launches national TV campaign http://www.autonews.com/article/20170717/RETAIL03/170719757/kelley-blue-book-launches-national-tv-campaign Mon, 17 Jul 2017 09:00:00 EST Kelley Blue Book, in its new ad campaign, is trying to tell customers that it can do more than give them the fair market value for their vehicle. Seizing opportunities as competitors move upmarket http://www.autonews.com/article/20170710/FINANCE_AND_INSURANCE/170719991/td-auto-finance-credit-pool Mon, 10 Jul 2017 00:01:00 EST The lender is expanding its portfolio with more used-vehicle loans and more prime and near-prime customers, even as some rivals flee upmarket. NAAA survey shows 2016 was record year for used vehicles http://www.autonews.com/article/20170628/RETAIL04/170629751/naaa-survey-shows-2016-was-record-year-for-used-vehicles Wed, 28 Jun 2017 14:10:23 EST The National Auto Auction Association's annual survey found 2016 was a record year in units and dollars paid for used-vehicle auctions. Association asks Mercer to study auction of the future http://www.autonews.com/article/20170627/RETAIL04/170629786/association-asks-mercer-to-study-auction-of-the-future Tue, 27 Jun 2017 14:53:38 EST The National Auto Auction Association has tapped Glenn Mercer to study the wholesale auction of the future. Carvana: Cars in vending machines, a fading IPO and an ex-con behind them http://www.autonews.com/article/20170606/RETAIL04/170609850/carvana-cars-in-vending-machines-a-fading-ipo-and-an-ex-con-behind Tue, 6 Jun 2017 08:38:54 EST Who wants to buy a used car from a vending machine? Investors will get some answers on Tuesday when Carvana releases its first earnings report since going public. Auction goes digital after Mass. tragedy http://www.autonews.com/article/20170605/OEM06/170609929/auction-goes-digital-after-mass-tragedy Mon, 5 Jun 2017 00:01:00 EST One auction will soon no longer have vehicles enter its building during auctions. Online auction ACV adds 8 markets http://www.autonews.com/article/20170605/RETAIL04/170609938/online-auction-acv-adds-8-markets Mon, 5 Jun 2017 00:01:00 EST ACV's expansion to eight additional markets shows that, despite the collapse of Beepi, there are still other startups seeking to find a niche in the remarketing world. Will Facebook be the next big thing in online used-car ads? http://www.autonews.com/article/20170529/RETAIL01/170529792/will-facebook-be-the-next-big-thing-in-online-used-car-ads Mon, 29 May 2017 00:01:00 EST Facebook has the potential to be a major force in used-car sales with a new feature called Marketplace, which eases concerns about dealing with strangers. CPO sales flat year-over-year http://www.autonews.com/article/20170529/RETAIL04/170529855/cpo-sales-flat-year-over-year Mon, 29 May 2017 00:01:00 EST U.S. certified pre-owned sales at the largest automakers have risen just 0.2% through April, bogged down in large part by significant declines at 3 of the 4 largest players. Mini offers dealers bonuses for more used-car sales http://www.autonews.com/article/20170529/RETAIL04/170529857/mini-seeks-higher-used-car-sales Mon, 29 May 2017 00:01:00 EST Mini executives want the brand's U.S. dealerships to pursue used-car sales with more vigor, so they're offering bonuses to dealerships that hit used-volume targets. Online dealer delivers for mail carriers http://www.autonews.com/article/20170527/RETAIL04/170529854/online-dealer-delivers-for-mail-carriers Sat, 27 May 2017 00:01:00 EST An online used-vehicle retailer specializes in an obscure but profitable niche #8212; right-hand-drive Jeep Cherokees from Japan.