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, 1 Mar 2015 06:00:00 EST ADESA bows out of multiple platform auction sales http://www.autonews.com/article/20150223/RETAIL04/150229947/adesa-bows-out-of-multiple-platform-auction-sales Mon, 23 Feb 2015 19:52:11 EST After investing nearly two years and 'several million dollars' to help create online auction selling across multiple platforms, ADESA is bowing out, said Peter Kelly, president of ADESA's corporate sibling in charge of digital services. CarMax beats Calif. suit over 'certified' documents http://www.autonews.com/article/20150223/LEGALFILE/302239983/carmax-beats-calif-suit-over-certified-documents Mon, 23 Feb 2015 00:01:00 EST CarMax Auto Superstores California has beaten a fraud suit by the purchasers of a used 2008 Dodge Caravan who claimed the Riverside dealership where they bought the minivan failed to give them a state-mandated Certified Quality Inspection checklist. Salvage auction does a bang-up business http://www.autonews.com/article/20150223/RETAIL04/302239999/salvage-auction-does-a-bang-up-business Mon, 23 Feb 2015 00:01:00 EST Salvage auto-auction company Insurance Auto Auctions Inc., sibling to auction giant ADESA, has been on a growth spurt since December 2013. In that time, it has opened, acquired, reopened, moved or expanded sites in 13 markets. VW sees 'banner year' for certified-used sales http://www.autonews.com/article/20150223/RETAIL04/302239998/vw-sees-banner-year-for-certified-used-sales Mon, 23 Feb 2015 00:01:00 EST Volkswagen division's certified used-vehicle sales rose 17 percent last month to 7,675. Black Book's Beggs to retire April 1 http://www.autonews.com/article/20150217/OEM02/150219847/black-books-beggs-to-retire-april-1 Tue, 17 Feb 2015 15:33:11 EST Ricky Beggs, senior vice president and editorial director for Black Book, will retire April 1, the company said today. AutoWeb sells Web traffic -- but it's not stopping there http://www.autonews.com/article/20150214/RETAIL/150219883/autoweb-sells-web-traffic-but-its-not-stopping-there Sat, 14 Feb 2015 11:56:16 EST There's another Web traffic source for dealers to use. Miami-based AutoWeb is an online search company that allows dealers to see which vehicles potential shoppers are interested in. Exec: Enterprise holds steady on program cars http://www.autonews.com/article/20150126/RETAIL04/301269964/exec-enterprise-holds-steady-on-program-cars Mon, 26 Jan 2015 00:01:00 EST Unlike its two closest competitors, Hertz Corp. and Avis Budget Group Inc. Used-vehicle prices finish 2014 strong http://www.autonews.com/article/20150126/RETAIL04/301269989/used-vehicle-prices-finish-2014-strong Mon, 26 Jan 2015 00:01:00 EST Greater volumes of off-lease, retired rental and other used vehicles returned to the market last year, but overall values of used vehicles closed 2014 with prices in December registering year-over-year increases. Certified used sales poised for another record http://www.autonews.com/article/20150126/RETAIL04/301269991/certified-used-sales-poised-for-another-record Mon, 26 Jan 2015 00:01:00 EST Buoyed by an uptick in off-lease vehicles flowing back into the market, the industry will sell at least 2.5 million certified used vehicles this year, breaking last year's record, some analysts predict. Service lanes can become source of used-car inventory http://www.autonews.com/article/20150124/RETAIL06/301259992/service-lanes-can-become-source-of-used-car-inventory Sat, 24 Jan 2015 14:00:00 EST Brian Benstock has found that his own service department is the best place to shop for used vehicles. When the general manager of Paragon Honda in Woodside, N.Y. Reports aim to aid VW certified used sales http://www.autonews.com/article/20150123/RETAIL06/301249956/reports-aim-to-aid-vw-certified-used-sales Fri, 23 Jan 2015 18:52:53 EST Volkswagen of America will provide free CarStory Market Reports to VW dealers to help educate consumers about the benefits of VW's certified used-vehicle program and to help dealers sell more certified used VW vehicles. How will the newest metal in Detroit hold up in the used market? http://www.autonews.com/article/20150115/BLOG06/150119796/how-will-the-newest-metal-in-detroit-hold-up-in-the-used-market Thu, 15 Jan 2015 14:12:50 EST When analysts who examine used vehicles and establish prices for them look at an all-new or redesigned car or pickup, they study exterior styling, engine specs and technical innovations. More off-lease pickups, SUVs and crossovers in 5 years, KBB says http://www.autonews.com/article/20150111/RETAIL04/150119970/more-off-lease-pickups-suvs-and-crossovers-in-5-years-kbb-says Sun, 11 Jan 2015 18:23:10 EST Cars dominated the top segments of vehicles coming off lease in 2014, but the segments with the most projected off-lease growth in 2019, vs. 2014 volumes, will be SUVs, crossovers and pickups, analysts from Kelley Blue Book predicted Sunday. KAR Auction names Peter Kelly president of new digital group http://www.autonews.com/article/20150108/RETAIL04/150109903/kar-auction-names-peter-kelly-president-of-new-digital-group Thu, 8 Jan 2015 13:53:44 EST KAR Auction Services, parent of ADESA, has named Peter Kelly president of its new Digital Services Group, effective immediately. Kelly, 46, co-founded Openlane in 1999 and has been KAR's chief technology officer since 2013. Used-car buyers are big FandI opportunity http://www.autonews.com/article/20141223/FINANCE_AND_INSURANCE/312239996/used-car-buyers-are-big-fi-opportunity Tue, 23 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. Manheim aims to get auctions done faster http://www.autonews.com/article/20141222/RETAIL/312229995/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 http://www.autonews.com/article/20141215/RETAIL04/312159964/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 http://www.autonews.com/article/20141211/RETAIL04/141219963/drivetime-names-manheim-low-end-vehicle-auction-as-exclusive 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 http://www.autonews.com/article/20141208/FINANCE_AND_INSURANCE/312089991/used-car-buyers-are-big-fi-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 http://www.autonews.com/article/20141208/FINANCE_AND_INSURANCE/312089992/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 http://www.autonews.com/article/20141205/RETAIL04/141209866/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 http://www.autonews.com/article/20141124/RETAIL07/311249956/dealers-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 http://www.autonews.com/article/20141124/FINANCE_AND_INSURANCE/311249963/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? http://www.autonews.com/article/20141124/RETAIL04/311249988/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 http://www.autonews.com/article/20141124/RETAIL04/311249989/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 http://www.autonews.com/article/20141122/RETAIL03/141129942/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 http://www.autonews.com/article/20141119/BLOG13/311199987/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 http://www.autonews.com/article/20141117/RETAIL07/311179984/financial-openness-can-beat-the-lowest-pricing-dealer-says Mon, 17 Nov 2014 00:01:00 EST Customers who apply for vehicle financing on driversselect.com 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 http://www.autonews.com/article/20141117/RETAIL04/311179965/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 http://www.autonews.com/article/20141117/RETAIL04/311179983/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 http://www.autonews.com/article/20141114/RETAIL04/141119886/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 http://www.autonews.com/article/20141112/RETAIL07/141119930/autonation-plans-mid-december-rollout-of-digital-storefront-in 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 http://www.autonews.com/article/20141112/FINANCE_AND_INSURANCE/141119949/online-financial-transparency-trumps-lowest-price-dealer-says Wed, 12 Nov 2014 10:00:00 EST Customers who apply for vehicle financing on driversselect.com 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 http://www.autonews.com/article/20141110/RETAIL04/311109951/shoppers-willing-to-pay-smaller-certified-used-premium-study-shows Mon, 10 Nov 2014 00:01:00 EST New-car shoppers in AutoTrader.com'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 http://www.autonews.com/article/20141110/RETAIL/311109978/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 http://www.autonews.com/article/20141105/RETAIL04/141109912/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 http://www.autonews.com/article/20141028/OEM11/141029839/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 http://www.autonews.com/article/20141027/RETAIL04/310279993/q-autos-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 http://www.autonews.com/article/20141027/RETAIL04/310279966/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 http://www.autonews.com/article/20141027/RETAIL04/310279986/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 http://www.autonews.com/article/20141027/RETAIL04/310279994/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 http://www.autonews.com/article/20141014/BLOG06/141019943/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 http://www.autonews.com/article/20141010/RETAIL04/141019981/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 http://www.autonews.com/article/20141006/RETAIL04/310069963/teslas-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 http://www.autonews.com/article/20141002/RETAIL07/141009914/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 http://www.autonews.com/article/20140929/RETAIL04/309299980/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 http://www.autonews.com/article/20140929/RETAIL04/309299976/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 http://www.autonews.com/article/20140922/RETAIL04/309229967/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 http://www.autonews.com/article/20140922/RETAIL04/309229998/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 http://www.autonews.com/article/20140922/RETAIL04/309229995/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. %]