Automotive News Used Vehicles News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Sat, 27 Aug 2016 06:00:00 EST 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. App helps dealers make fast bids for consumers' vehicles http://www.autonews.com/article/20160530/RETAIL07/305309987/app-helps-dealers-make-fast-bids-for-consumers-vehicles Mon, 30 May 2016 00:01:00 EST Cars.com and Pearl Technology have partnered to help dealers buy consumer-owned used vehicles. But dealers have to be quick to win the deal. Q auto&'s smaller stores yield bigger results http://www.autonews.com/article/20160530/RETAIL07/305309988/q-auto-s-smaller-stores-yield-bigger-results Mon, 30 May 2016 00:01:00 EST Asbury will add two smaller stand-alone used-vehicle stores in the Tampa area this summer, bringing its total there to four, after having closed its only large-format store in Jacksonville, Fla., in February. CarGurus validates used-car prices on dealership sites http://www.autonews.com/article/20160530/RETAIL07/305309991/cargurus-validates-used-car-prices-on-dealership-sites Mon, 30 May 2016 00:01:00 EST CarGurus has become the latest third-party shopping site to allow dealers to place its rating of used-vehicle prices - such as 'good deal' or 'great deal' - directly on a dealership website's inventory pages. U.S. residuals predicted to drop 4.2 percentage points, Black Book says http://www.autonews.com/article/20160517/RETAIL04/160519886/u-s-residuals-predicted-to-drop-4-2-percentage-points-black-book-says Tue, 17 May 2016 15:24:13 EST Black Book predicts a drop of 4.2 percentage points in used-vehicle residual values over the next three years. New cars and trucks sold in the U.S. in May and June will retain about 47. Full-size pickups depreciating faster (but not much) http://www.autonews.com/article/20160516/RETAIL04/305169937/full-size-pickups-depreciating-faster-but-not-much Mon, 16 May 2016 00:01:00 EST Prices of used full-size pickups are still high, but their rate of depreciation is quickening, analysts say. They blame the quickening price slide on two factors: a rising supply of used pickups and higher incentives on new pickups. Is your dealership's service staff ready for an off-lease tsunami? http://www.autonews.com/article/20160516/RETAIL05/305169993/is-your-dealerships-service-staff-ready-for-an-off-lease-tsunami Mon, 16 May 2016 00:01:00 EST The coming wave of off-lease vehicles means dealerships need to get ready now for not only more service work, but a shift in the nature of that work and who dealerships should hire to do it, experts warn. Manheim expands vehicle inspections to meet selling dealers' needs http://www.autonews.com/article/20160510/RETAIL04/160519978/manheim-expands-vehicle-inspections-to-meet-selling-dealers-needs Tue, 10 May 2016 16:19:45 EST Manheim is expanding its vehicle inspection services -- and testing enhancements to those services -- to accommodate the growing number of dealers who want condition reports on vehicles they buy and sell at auction, the company said today. Certified leasing helps dealer ease glut of returning vehicles http://www.autonews.com/article/20160509/FINANCE_AND_INSURANCE/305099995/certified-leasing-helps-dealer-ease-glut-of-returning-vehicles Mon, 9 May 2016 00:01:00 EST In anticipation of a glut of returning vehicles, Steve Zion began revving certified used-vehicle leasing a year and a half ago. Now he leases about 20 certified used vehicles a month. AutoNation changes recall policy to allow some auctions http://www.autonews.com/article/20160422/OEM11/160429937/autonation-changes-recall-policy-to-allow-some-auctions Fri, 22 Apr 2016 14:45:38 EST AutoNation is changing one of the key tenets of its policy not to sell any vehicle with an open recall. The retailer now will allow some recalled vehicles to go to wholesale auction if lack of replacement parts causes lengthy repair times. GM exec: Used-car portal will keep dealers ahead of trends http://www.autonews.com/article/20160418/RETAIL07/304189994/gm-exec-used-car-portal-will-keep-dealers-ahead-of-trends Mon, 18 Apr 2016 00:01:00 EST The GM Factory Pre-Owned Collection's strategy is to help GM manage its flow of off-lease and retired rental vehicles now, with an eye on how consumers want to buy used vehicles going forward, said the program's manager. Too many used cars? Lease them http://www.autonews.com/article/20160416/RETAIL04/304189964/too-many-used-cars-lease-them Sat, 16 Apr 2016 00:01:00 EST To cope with an industrywide flood of 3.1 million off-lease vehicles returning to the market this year, some captives and other lenders are offering leases on used and certified pre-owned vehicles. AutoNews Now: March U.S. sales winners, losers http://www.autonews.com/article/20160402/VIDEO/304029960/autonews-now-march-u-s-sales-winners-losers Sat, 2 Apr 2016 07:45:00 EST March sales winners, losers; 'Root cause' of Mazda's drop; VW dealers try to avoid lawsuit; Off-lease flood forecast; N.Y.'s Kitty Van Bortel named Time Dealer of the Year. New Dealertrack tool speeds trade-in payoffs, titles http://www.autonews.com/article/20160328/RETAIL04/303289977/new-dealertrack-tool-speeds-trade-in-payoffs-titles Mon, 28 Mar 2016 00:01:00 EST Dealertrack's Accelerated Title cuts the time a dealer can make a trade-in available for sale by electronically transferring the vehicle's loan payoff funds and obtaining its title. New Caddy CT6, XT5 miss mark on residuals http://www.autonews.com/article/20160328/OEM/303289998/new-caddy-ct6-xt5-miss-mark-on-residuals Mon, 28 Mar 2016 00:01:00 EST Cadillac's new entries -- the XT5 crossover and CT6 sedan -- were assigned ho-hum residual values, which will make it tougher for Cadillac to compete on lease programs. Cadillac works to tighten control over lease returns http://www.autonews.com/article/20160328/RETAIL06/303289975/cadillac-works-to-tighten-control-over-lease-returns Mon, 28 Mar 2016 00:01:00 EST Cadillac is offering dealers bonus money to sell more certified pre-owned vehicles, part of a broader strategy to lift resale values. Infiniti steps up CPO; plan includes more models, ads http://www.autonews.com/article/20160328/RETAIL06/303289972/infiniti-steps-up-cpo-plan-includes-more-models-ads Mon, 28 Mar 2016 00:01:00 EST Infiniti and its retailers will attempt to increase their sales of certified pre-owned vehicles this year with an enhanced factory program. First Shift: Jeep Wrangler output to boom http://www.autonews.com/article/20160321/VIDEO/303219924/first-shift-jeep-wrangler-output-to-boom Mon, 21 Mar 2016 00:01:00 EST Jeep Wrangler output to boom; CPO leasing at Toyota; Selling old, new Acadia; IHS buying London firm; BMW to organize factories by front, rear drive; Car colors and confidence. KAR is "involved' in GM used sales portal http://www.autonews.com/article/20160229/RETAIL04/302299996/kar-is-involved-in-gm-used-sales-portal Mon, 29 Feb 2016 00:01:00 EST Vehicles owned by automakers and captive finance companies built up at ADESA's physical auctions in the fourth quarter, executives for its parent company said. Right vehicles at the right prices http://www.autonews.com/article/20160229/RETAIL04/302299991/right-vehicles-at-the-right-prices Mon, 29 Feb 2016 00:01:00 EST Cox Automotive's vAuto is launching a used-vehicle management tool that determines which specific used cars a dealership needs, and searches for those vehicles at auctions nationwide, not just at Cox's Manheim auctions. Aston Martin made for Bond 'Spectre' film sells for $3.5 million http://www.autonews.com/article/20160219/RETAIL03/160219841/aston-martin-made-for-bond-spectre-film-sells-for-3-5-million Fri, 19 Feb 2016 09:16:28 EST An Aston Martin DB10 car designed for the latest James Bond film "Spectre" has sold for some $3.5 million at auction, far exceeding its reserve price. A bumpy start for GM used sales site http://www.autonews.com/article/20160215/RETAIL04/302159905/a-bumpy-start-for-gm-used-sales-site Mon, 15 Feb 2016 00:01:00 EST General Motors' new portal to sell used vehicles directly to consumers is off to a rocky start, with a tepid response from GM dealers and a letter from the California dealers association questioning the program's legality. Record leases could squeeze used cars http://www.autonews.com/article/20160215/RETAIL04/302159935/record-leases-could-squeeze-used-cars Mon, 15 Feb 2016 00:01:00 EST New-vehicle sales through leases reached their highest level ever, 'just shy of 4 million' vehicles, or 28 percent of U.S. light-vehicle sales in 2015, according to the Manheim 2016 Used Car Market Report.