Automotive News Used Vehicles News Feed News, blogs and commentary from the leader in North American automotive news en-us Tue, 4 Aug 2015 06:00:00 EST Average age of U.S. fleet hits record 11.5 years, IHS says Wed, 29 Jul 2015 07:00:00 EST The average age of light vehicles on the road in the U.S. reached a new all-time high of 11.5 years at the end of 2014, while the total light vehicles in operation hit a record 257.9 million, up 2.1 percent from 2013, IHS Automotive said today. Volvo, industry flex their CPO sales muscles Mon, 27 Jul 2015 00:01:00 EST At the half-year mark, industrywide sales of certified used vehicles stood at 1,275,411, up 13 percent compared with the same period last year. The industry sold 212,843 certified units in June, an 18 percent increase over June 2014. Car haulers fight driver shortage Sat, 25 Jul 2015 00:01:00 EST Long wait times to pick up cars and paperwork contributes big-time to car-hauler driver job dissatisfaction. It is among the reasons the car hauling industry has a shortage of about 3,000 drivers. FTC probes GM over possible CPO sales without recall fixes Thu, 23 Jul 2015 18:03:19 EST The Federal Trade Commission is investigating GM because some of its dealerships advertised certified used vehicles that hadn't received recall-related repairs. Curse of the $16.5 million Ferrari pits tycoon against an auction house Sat, 11 Jul 2015 00:15:00 EST Following 16 years of lawsuits and ownership claims from Paraguay to Switzerland, the fate of a 1954 Ferrari 375 Plus roadster, which Victoria's Secret founder Les Wexner thought he bought last year for 10.7 million pounds ($16. Startups just keep coming in the used-car market Thu, 9 Jul 2015 07:14:15 EST In case you missed it, this week brought more reminders that the used-car market is in flux. Used-vehicle prices rise after 4 down months, Manheim says Wed, 8 Jul 2015 14:55:33 EST Wholesale prices of used vehicles in June were up slightly after four consecutive months of decline, the Manheim Used Vehicle Value Index released today shows. No seat unturned in flood-damage search Mon, 29 Jun 2015 00:01:00 EST Since torrential downpours hit Houston in late May, Bob Sluss has been extra vigilant about leaving no stone - or seat - unturned when appraising used vehicles. CarMax makes big plans for smaller markets Mon, 29 Jun 2015 00:01:00 EST CarMax Inc. plans to expand its reach by opening smaller stores in smaller markets, said CEO Tom Folliard. He said the used-vehicle powerhouse has identified at least 80 markets that will support stores that are downsized from typical CarMax outlets. Texas floods may yield 10,000 damaged vehicles Fri, 5 Jun 2015 09:54:48 EST As many as 10,000 vehicles may have been damaged in last month's catastrophic Texas floods, and some could be resold out of state to unsuspecting buyers, according to a group that works to prevent insurance fraud. KAR Auction will add auctions, inspection unit Mon, 1 Jun 2015 00:01:00 EST KAR Auction Services plans to build or buy physical auctions and a vehicle inspection business as part of its growth strategy. Buyers emerge for auction companies Mon, 25 May 2015 00:01:00 EST Mergers and acquisitions are happening among auto auctions, and attracting private-equity players, for the same reasons they are on the rise among car dealerships: Robust and growing sales volumes and aging owners. Auctions focus on high-quality vehicle images Mon, 25 May 2015 00:01:00 EST Auctions are taking steps to raise the quality and resolution of their vehicle photos, yielding more bids and higher conversion rates. Tesla starts small with CPO program Sat, 9 May 2015 00:01:00 EST Tesla is now selling CPO cars online in 11 US cities, marking the start of a used-car foray that could someday turn into a big money-maker. KAR Auction Q1 net income doubles Wed, 6 May 2015 15:11:32 EST KAR Auction Services, parent company of ADESA, said its net income more than doubled to $54.5 million on revenues that increased 8.3 percent to $632.4 million in the first quarter. Whole lotta wholesalin' goin' on Mon, 27 Apr 2015 00:01:00 EST Soaring new-vehicle sales for the last few years mean that used vehicles are more plentiful. Dealers have become more selective about the vehicles they stock, and more willing to wholesale the ones they cull. Recalled program cars vex GM, hurt profits Mon, 27 Apr 2015 00:01:00 EST Late last year, General Motors decided to hold off on auctioning many of its retired rental vehicles because of depressed prices. Manheim expands its mobile auctions Mon, 27 Apr 2015 00:01:00 EST Manheim is expanding its mobile auction business, which the company says could grow to 20 percent of its revenues eventually from less than 5 percent today. Online startups offer dealers faster, cheaper ways to wholesale vehicles Mon, 13 Apr 2015 00:01:00 EST Years ago, dealers who wanted to get rid of aged used cars and unwanted trade-ins had to take them to a local auction. But now auctions are being challenged by start-ups that offer alternative ways to wholesale used vehicles. Porsche taps Cox unit to help manage off-lease portfolio Mon, 6 Apr 2015 11:27:17 EST Porsche Cars North America Inc. has tapped a Cox Automotive software platform company to help it manage its off-lease portfolio. CarMax will step up store-opening pace Thu, 2 Apr 2015 15:46:00 EST CarMax said will open 13 to 16 new used-only stores each of the next three fiscal years, starting with the one that began March 1. That is up from the 10 to 15 stores a year it has opened since the recession. Cox's Schwartz urges 3 dealer changes Tue, 31 Mar 2015 17:15:00 EST Sandy Schwartz has been campaigning this year with a stump speech that drives home a simple message: Dealers have to change the way they do business, and today's good times represent an opening to do so. Bidding goodbye to Black Book's Beggs Tue, 31 Mar 2015 14:34:01 EST After 34 years at Black Book, Ricky Beggs is retiring on April 1. That such a fixture of the used-car world would retire seems like an April Fools' joke. But it's not; he's really retiring. Care about new-car sales? Keep an eye on CPO sales Mon, 30 Mar 2015 12:53:30 EST Can the robust CPO market handle the rising tide of used-vehicle supply? That's one of the critical questions facing everyone in the used-car market -- and the new-car market, too. Revamp of CPO program pays off for Fiat Chrysler Mon, 30 Mar 2015 00:01:00 EST Fiat Chrysler's retooled certified used-vehicle program is paying off, said Eric Swanson, FCA US senior manager of certified pre-owned vehicle sales. Leases to get more expensive, ALG says Sat, 28 Mar 2015 00:01:00 EST Low-cost monthly auto leases will become more expensive over the next couple of years, predicts ALG President Larry Dominique. Fewer photos prevents 'image fatigue,' used-car shopper report says Tue, 24 Mar 2015 16:04:22 EST Too many photos in online used-vehicle listings can cause 'image fatigue' for consumers, a study released today found. The optimal number? Nine. Auction changes meet hurdles as coalition breaks Mon, 9 Mar 2015 00:01:00 EST For two years, the hottest topic in the auto-auction world has been multiplatform selling: A vehicle listed on one company's online auction would show up on rivals' platforms as well, allowing buyers to bid across those competing platforms until the... Manheim offers a la carte services Mon, 9 Mar 2015 00:01:00 EST Manheim, the nation's largest auto auction company, is unbundling services that it had offered only on vehicles that dealers bought or sold through its auctions. 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 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 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 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 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 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 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 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 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 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 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. %]