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Penske Automotive Group will buy The Car People, a used-only retailer in the UK, nearly doubling its used-only operations in that market.
A new version of TradeRev's used-vehicle purchasing mobile app, from KAR Auction Services, has added dealer-support features.
A fresh surge of vehicles coming off leases in 2018 will include more light trucks and fewer cars. Increasingly, they'll have low mileage and higher price tags.
Hertz disposed of a growing share of its retired vehicles through channels other than auctions in the third quarter, and expects that growth to continue.
Auctions such as Manheim and Ally's SmartAuction are expanding their assurances to buyers that if something goes wrong, they will be made right.
In contrast to new-vehicle sales, U.S. used-vehicle sales will rise in 2018, even as prices soften, on rising volumes of off-lease vehicles, economists forecast.
NAAA's board is expected to vote on mandatory safety standards for auction members at this month's annual convention, changing how buyers can act in the lane.
Ally Financial is tripling its bet on one of the auto industry's disrupters by committing $2 billion to finance retail contracts for online used-vehicle retailer Carvana over the next year.
Carvana more than doubled revenue and unit sales in the third quarter but losses mounted as the newly public used-vehicle retailer continued its national rollout.
Dealers and lenders are getting stung by a new type of used-vehicle sales fraud that takes advantage of banks' automated payoff systems.
A startup trying to create a new channel for selling used vehicles just got almost $1 billion -- and a de facto endorsement from two major industry players.
Used-vehicle buyers replacing rides lost in Hurricanes Harvey and Irma are boosting prices and trimming supplies, but the end of the storm surge is in sight.
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