Used Vehicle

Hertz hires airline veteran Tague to revive company

12:12 pm U.S. ET | Nov. 21, 2014

Hertz Global Holdings named John Tague as its new CEO, appointing the manager credited with boosting sales at United Airlines to restore investors' confidence in the car-rental company plagued by an aging fleet and sloppy accounting....
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ARLENA SAWYERS

BLOG: Popping the subprime bubble myth

12:01 am U.S. ET | Nov. 19, 2014

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....
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Financial openness can beat the lowest pricing, dealer says

12:01 am U.S. ET | Nov. 17, 2014

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. CEO Steve Hall says many dealers don't find it easy to give out so much information online. But transparency builds trust, he said....
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Manheim stocks used cars for Sonic

12:01 am U.S. ET | Nov. 17, 2014

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....
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How remarketers get the most from off-lease vehicles

12:01 am U.S. ET | Nov. 17, 2014

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 as much money as possible....
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Hertz to restate results, change fleet-purchase strategy

2:22 pm U.S. ET | Nov. 14, 2014

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. Hertz also said it's initiating a $100 million cost-reduction program and said it increased the rate at which it's selling the highest-mileage cars in its fleet by 45 percent....
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Shoppers willing to pay smaller certified-used premium, study shows

12:01 am U.S. ET | Nov. 10, 2014

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. That was down $908, or nearly a third, from the amount new-car shoppers in last year's study said they were willing to pay....
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Rising off-lease volume hits ADESA lanes

12:01 am U.S. ET | Nov. 10, 2014

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....
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ADESA doubles Q3 profits on growing auction volume

2:29 pm U.S. ET | Nov. 5, 2014

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....
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AutoNation halts sales of used cars under Takata recalls

12:51 pm U.S. ET | Oct. 28, 2014

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....
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Surge of used cars stings

12:01 am U.S. ET | Oct. 27, 2014

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....
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EDITORIAL

Brace yourself for a flood of used vehicles

12:01 am U.S. ET | Oct. 27, 2014

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. In 2009 and 2010, the number of new vehicles that were built and sold plummeted. Even fewer were leased back then because of the credit crunch that came with the slump....
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CarMax's U-turn: A return to Web leads

12:01 am U.S. ET | Oct. 20, 2014

Used-car powerhouse CarMax has begun posting vehicle inventory again on AutoTrader.com and Cars.com after a 16-month hiatus. The shift underscores the challenge that new-car leader AutoNation faces in its effort to rely less on third-party lead sites....
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Pickups defy fall in used-vehicle prices

1:59 pm U.S. ET | Oct. 10, 2014

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....
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Tesla's trump card? Used cars

12:01 am U.S. ET | Oct. 6, 2014

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....
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Test offers off-lease Toyotas

12:01 am U.S. ET | Oct. 6, 2014

Toyota Financial Services is testing a program that offers off-lease vehicles for sale to dealers outside its franchise network while the vehicles are still sitting on the lots of Toyota and Lexus dealers that accepted the vehicles....
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AutoGrade schools the auction industry

12:01 am U.S. ET | Sept. 29, 2014

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....
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CarMax reports double-digit increases in Q2 revenue, profit

8:19 am U.S. ET | Sept. 23, 2014

CarMax Inc., the largest U.S. used-car retailer, reported a 11 percent rise in quarterly revenue as easier availability of credit boosted car sales....
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Honda, GM crack down on certified-used rule benders

12:01 am U.S. ET | Sept. 22, 2014

Honda and GM, among others, are closely monitoring dealerships' compliance with certified used-vehicle programs -- and cracking down on rule breakers....
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LETTER TO THE EDITOR

Time to step up online CPO game

12:01 am U.S. ET | Sept. 22, 2014

The pressure to maintain new-vehicle sales increases the allure of incentives, which drive lower used-vehicle prices....
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Manheim rolls out program that lets dealers return vehicles

12:15 pm U.S. ET | Sept. 11, 2014

Dealers who buy almost any vehicle at a Manheim auction location also can purchase the right to return those vehicles for any reason for up 21 days or 500 miles, whichever comes first. The nation's largest auto auction company is now offering optional protection from DealShield, its sister company, that guarantees the purchaser a 100 percent refund of the purchase price plus buyer's fees if they choose to return the vehicle....
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Wholesale used prices down for 4th straight month, Manheim Index shows

3:34 pm U.S. ET | Sept. 8, 2014

Wholesale prices of used-vehicles declined for the fourth consecutive month in August, according to the Manheim Used Vehicle Index released today....
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Used pickup prices strong, but how long?

12:01 am U.S. ET | Aug. 25, 2014

How long will prices of used full-size pickups stay strong?...
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Manheim enters high-tech lane

12:01 am U.S. ET | Aug. 25, 2014

Manheim, the nation's largest auto-auction company, is spending $100 million over three years to give every aspect of its operations a high-tech makeover....
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PRICE WATCH

Falling used-vehicle values threaten recovery

12:01 am U.S. ET | Aug. 18, 2014

The long-awaited decline in used-vehicle prices has finally arrived, only it may turn out to be steeper drop and a bigger threat to the overall market than almost anyone expected....
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Tenn. dealer hires for a lifetime

Tenure is measured in decades, not just years, at Jenkins & Wynne Ford, Lincoln, Honda in Clarksville, Tenn. Its full of workers who've spent 20, 30, even 50 years with the company. Mon., March 23
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