Used Vehicle

GHOST OF OLD GM?

Overproduction, hefty spiffs sink residuals of Cadillac ATS

12:01 am U.S. ET | Jan. 13, 2014
A year ago, the ATS had among the highest residual ratings in the competitive compact luxury market, better than those of the BMW 3 series. But ALG's latest ratings put it toward the bottom of the pack, citing an overly ambitious volume forecast that left Cadillac dealers with inventories routinely exceeding a 140-day supply, more than double the level that's considered healthy.... Read More »

 

Economist: Used-vehicle prices will remain healthy, but could fluctuate

3:03 pm U.S. ET | Jan. 8, 2014
Used-vehicle prices could fluctuate at times this year but are expected to remain healthy overall, Tom Webb, Manheim's chief economist, predicted today.... Read More »

 

Manheim waives online fees for snowed-in buyers

6:33 pm U.S. ET | Jan. 6, 2014
Manheim said today it will offer some relief to dealerships hit by the weekend storm that dumped more than a foot of snow in parts of the Northeast and Midwest by waiving some online auction fees.... Read More »

 

Costco tests new used-car sales model

12:01 am U.S. ET | Jan. 4, 2014
Costco's auto sales arm is testing a program that allows franchised dealers to list for sale on its site used vehicles of any brand that are still under warranty. Participating dealers have agreed to sell the vehicles to Costco members at less than their lowest advertised prices.... Read More »

 

Hertz shares jump after board adopts 'poison pill' stock plan

8:42 am U.S. ET | Jan. 1, 2014
Hertz Global Holdings rose to a record high after the largest publicly traded rental-car company said it adopted a so-called poison pill upon seeing “unusual and substantial activity” in its stock.... Read More »

 

Certified-used sales soar, and '14 looks even better

12:01 am U.S. ET | Dec. 23, 2013
Sales of certified used vehicles are heading for a record 2 million-plus units this year, pumped up by more off-lease vehicles returning to the market and by manufacturers' program enhancements. And sales will go even higher next year, predict industry watchers and certified used vehicle program managers at automakers.... Read More »

 

Humans optional: A vending-machine concept to sell used cars

12:01 am U.S. ET | Dec. 9, 2013
A new venture called Carvana is trying out what the owner calls a "vending machine" for used cars.... Read More »

 

NADA guide: '08-'09 prices will stay firm

12:01 am U.S. ET | Dec. 9, 2013
Average prices of late-model used cars and trucks for 2013 will drop compared to last year, but average prices of older used vehicles -- say those 4 to 6 years old -- will increase, predicts NADA Used Car Guides.... Read More »

 

More than half of new-car shoppers would consider CPO, study says

12:04 pm U.S. ET | Dec. 5, 2013
More than half of new-car shoppers are willing to consider buying a certified pre-owned vehicle, up from 43 percent a year ago, an AutoTrader.com study released today says.... Read More »

 

Big off-lease battle brewing

12:01 am U.S. ET | Dec. 2, 2013
Automakers are crafting strategies to keep existing customers -- and perhaps poach some new ones -- when the number of vehicle owners coming off lease shoots up next year.... Read More »

 

AUTOMOTIVE NEWS EUROPE E-MAGAZINE

Europe's dealers focus on used cars, aftersales to survive slump

Nov. 12, 2013 06:15 CET
Europe's leading independent dealer groups have turned their focus to selling more used cars and making more money from aftersales to survive the region's new-car sales slump.... Read More »

 

Used-vehicle prices will continue decline into 2014, Manheim chief economist says

4:24 pm U.S. ET | Nov. 7, 2013
Prices of used vehicles on average dropped in October from prior-month levels, but were higher than they were in October 2012, according to the Manheim Used Vehicle Value Index released today.... Read More »

 

KAR, Adesa's parent, posts 19% gain in Q3 net

12:24 pm U.S. ET | Nov. 6, 2013
KAR Auction Services, the parent of auction company ADESA, said today that its third-quarter net income rose 19 percent from the year-earlier period to $22.8 million, as revenues increased 12 percent to $533.7 million.... Read More »

 

Hertz expects to double its retail vehicle sales in 2 years

4:11 pm U.S. ET | Nov. 5, 2013
Hertz Global Holdings plans to at least double the number of retired rental vehicles it sells to retail consumers over the next two years, its top executive said today.... Read More »

 

RICHARD TRUETT

Why eBay Motors is losing traction

4:12 pm U.S. ET | Nov. 5, 2013
It appears that far fewer people are clicking tires these days for everyday vehicles on eBay Motors. The popular Web site is in transition. I know from buying and selling cars and classic car parts on eBay Motors what’s changing: Listings for everyday vehicles offered by private sellers are fading away.... Read More »

 

ARLENA SAWYERS

Recycling rental cars, before they're retired

4:18 pm U.S. ET | Nov. 1, 2013
Avis Budget Group sure knows how to get the most out of its rental cars. Many of its cars do double- or even triple-duty before being sold online directly to dealers and to consumers.... Read More »

 

Used cars, F&I boost public groups' profit

12:01 am U.S. ET | Oct. 28, 2013
Public retailers said last week that profits on used cars and finance and insurance operations drove increases in their third-quarter earnings.... Read More »

 

Sonic's goal: End CarMax dominance

12:01 am U.S. ET | Oct. 28, 2013
CarMax Inc. stands alone -- in size, scope and focus -- as a national used-vehicle dealership retailer. Now Sonic Automotive Inc. wants to share that space.... Read More »

 

Sonic to take on CarMax with new line of used-car stores

11:33 am U.S. ET | Oct. 21, 2013
Sonic Automotive, the nation's third-largest retailer of new vehicles is getting ready to take on the largest U.S. retailer of used vehicles.... Read More »

 

Sold! Rare Chevys attract big spenders

12:01 am U.S. ET | Oct. 7, 2013
Lambrecht Chevrolet's inventory controls were not exactly by the book, but things worked out in the long run. The Pierce, Neb., dealership simply put unsold vehicles in storage and waited for the day when they would be collectors' items.... Read More »

 

Lambrecht Chevy auction of rare cars draws $2.8 million in bids

2:35 pm U.S. ET | Sept. 30, 2013
Last weekend's Lambrecht Chevrolet auction brought 15,000 people and TV's “Top Gear” to a small Nebraska town, where nearly 500 Chevrolets mostly from the 1950s, '60s and '70s were auctioned off to the tune of an estimated $2.8 million.... Read More »

 

Thousands of car enthusiasts flock to Nebraska for auction

8:06 am U.S. ET | Sept. 29, 2013
America's love affair with the automobile was on full display this weekend as thousands of people converged on a muddy field in rural Nebraska for the auction of one of the nation's largest collections of vintage Chevrolets... Read More »

 

CarMax profits grow; more used-car stores on the horizon

11:38 am U.S. ET | Sept. 24, 2013
CarMax today said its net profits rose 26 percent to $140.3 million in its fiscal quarter that ended Aug. 31, vs. the year-earlier period. The company's revenue grew 18 percent to $3.25 billion.... Read More »

 

LETTER TO THE EDITOR

Scrappage doesn't drive sales

12:01 am U.S. ET | Sept. 23, 2013
Try to imagine the owners of 11.4-year-old cars (the average age of the U.S. fleet, according to R.L. Polk) leading the new-car market to robust sales.... Read More »

 

Car sharing users to reach 12 million by 2020, report says

2:31 pm U.S. ET | Sept. 16, 2013
Car sharing services are expected to have more than 12 million members worldwide by 2020, up from 2.3 million this year, a report from Navigant Research said.... Read More »

 

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How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, needed more used cars. But driving 150 miles to the nearest auction was time-consuming and costly. Mon., April 14
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