Automotive News Used Vehicles News Feed http://www.autonews.com News, blogs and commentary from the leader in North American automotive news en-us Tue, 24 May 2016 06:00:00 EST 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. Used-car loophole for recalls tightens up http://www.autonews.com/article/20160208/RETAIL04/302089962/used-car-loophole-for-recalls-tightens-up Mon, 8 Feb 2016 00:01:00 EST While a proposed federal law to close the used-car loophole is dead for now, efforts to keep unrepaired recalled vehicles out of circulation are stirring. Fiat 500L used by Pope Francis in U.S. fetches $82,000 at auction http://www.autonews.com/article/20160130/RETAIL03/160139998/fiat-500l-used-by-pope-francis-in-u-s-fetches-82000-at-auction Sat, 30 Jan 2016 12:47:12 EST A tiny black Fiat 500L that carried Pope Francis through Philadelphia during his historic first visit to the U.S. was sold for $82,000 at a Friday auction. GM program 'just another channel' http://www.autonews.com/article/20160125/RETAIL04/301259997/gm-program-just-another-channel Mon, 25 Jan 2016 00:01:00 EST Dealers have responded warily to news that General Motors will insert itself into the used-car business, a key profit center at most dealerships. Here are details on how GM's Factory Pre-Owned Collection plan will work. Ford, Leno to auction custom Harley-Davidson F-150 http://www.autonews.com/article/20160115/OEM02/160119772/ford-leno-to-auction-custom-harley-davidson-f-150 Fri, 15 Jan 2016 12:49:17 EST Ford and comedian Jay Leno said they will be auctioning off a one-of-a-kind Harley-Davidson Ford F-150 later this month and donating the proceeds to National Multiple Sclerosis Society. Manheim Canada acquires 100% of partnership auction site http://www.autonews.com/article/20160107/RETAIL04/160109885/manheim-canada-acquires-100-of-partnership-auction-site Thu, 7 Jan 2016 15:30:41 EST Cox Automotive Canada, through its Manheim Canada operation, has acquired 100 percent ownership of Manheim Source Edmonton, in Edmonton, Alberta. The auction site has been renamed Manheim Edmonton. Lexus is flexing its CPO muscles http://www.autonews.com/article/20160104/RETAIL04/301049940/lexus-is-flexing-its-cpo-muscles Mon, 4 Jan 2016 00:01:00 EST Lexus, one of the pioneers in aggressively promoting certified used-vehicle sales, is raising its game. The brand re-badged its Lexus Certified program as L/Certified about two months ago. The program also got a new logo and supporting ad campaign. Hot topics, trends to watch in 2016 http://www.autonews.com/article/20151228/RETAIL04/312289987/hot-topics-trends-to-watch-in-2016 Mon, 28 Dec 2015 00:01:00 EST Record certified used-vehicle sales. Strong used-vehicle prices, even amid rising inventory. It was a booming year in the automotive remarketing world in 2015. Here are 10 topics and trends to watch in 2016. Army veteran's discipline cuts used-car recon time in half http://www.autonews.com/article/20151221/RETAIL04/312219980/army-veterans-discipline-cuts-used-car-recon-time-in-half Mon, 21 Dec 2015 00:01:00 EST An Army vet cut vehicle reconditioning time in half at three Greenway Automotive dealerships in Orlando, which sped inventory to turn and slashed costs, by creating and adhering to strict standards and procedures. Online retailer Vroom acquires Texas Direct Auto http://www.autonews.com/article/20151216/RETAIL04/151219900/online-retailer-vroom-acquires-texas-direct-auto Wed, 16 Dec 2015 12:26:00 EST Online used-car retailer Vroom said today it has acquired one of its competitors, Texas Direct Auto. The deal was approved today by the Department of Justice, a Vroom spokeswoman said. Used prices stay stronger than expected http://www.autonews.com/article/20151214/RETAIL04/312149964/used-prices-stay-stronger-than-expected Mon, 14 Dec 2015 00:01:00 EST Despite a slight dip, wholesale used-vehicle prices last month remained robust, according to a widely watched index released last week. Used-vehicle prices dip, but remain unusually strong, Manheim index shows http://www.autonews.com/article/20151207/RETAIL04/151209873/used-vehicle-prices-dip-but-remain-unusually-strong-manheim-index Mon, 7 Dec 2015 14:57:00 EST Despite a slight dip, wholesale used-vehicle prices last month remained robust, according to a widely watched index released today. Manheim realigns auction sites to better tailor dealer services http://www.autonews.com/article/20151207/RETAIL04/151209883/manheim-realigns-auction-sites-to-better-tailor-dealer-services Mon, 7 Dec 2015 09:00:00 EST Manheim is realigning its 79 brick and mortar auction sites into two new divisions. The change is aimed at better tailoring services for local dealers and providing more services to commercial customers and dealers. Son of auto dealer finds auctions a better fit http://www.autonews.com/article/20151130/RETAIL/311309996/son-of-auto-dealer-finds-auctions-a-better-fit Mon, 30 Nov 2015 00:01:00 EST When neither the new- nor used-car retail auto business fit, Ben Lange tried auto auctions on for size. Lange now oversees and owns a minority stake in the third-largest auto auction company in the country. ADESA refocuses on physical auctions http://www.autonews.com/article/20151130/RETAIL/311309994/adesa-refocuses-on-physical-auctions Mon, 30 Nov 2015 00:01:00 EST A few years ago, technology made online used-vehicle remarketing possible. Then the recession made it a necessity. Toyota FJ Cruiser is scarce, hot and high-priced http://www.autonews.com/article/20151115/RETAIL04/311169971/toyota-fj-cruiser-is-scarce-hot-and-high-priced Sun, 15 Nov 2015 00:01:00 EST Toyota sold about 20,000 FJ Cruisers a year on average and about 222,000 all told in the United States. Now that they're not made anymore, they're more popular than ever. ADESA profit, revenue grow in 3rd quarter http://www.autonews.com/article/20151109/RETAIL/311099934/adesa-profit-revenue-grow-in-3rd-quarter Mon, 9 Nov 2015 00:01:00 EST KAR Auction Services Inc., parent company of ADESA, reported that third-quarter net income increased 10 percent from a year earlier to $52.3 million on revenue that rose 13 percent to $666.7 million.