Remarketing

Two-car households will decline, KPMG report predicts

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

Two-car households may be on the decline as urbanization increases, but they are far from disappearing, a KPMG report said this week....
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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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AutoNation plans mid-December rollout of digital storefront in Florida

12:49 pm U.S. ET | Nov. 12, 2014

Customers of 30 AutoNation stores in south Florida next month will be able to use their credit cards to reserve a car they want to buy, as part of a purchase process that is largely online....
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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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Q auto's sales strategy: 1 person, 1 price

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

Casey Coffey said the goal at Q auto -- Asbury Automotive Group Inc.'s new line of used-only dealerships -- is to stock an array of quality used vehicles and make quick, no-hassle sales to consumers. To speed sales, Q auto's strategy calls for product specialists to handle deals from beginning to end....
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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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M-B captive hikes online sales of off-lease cars

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

An enhancement to Mercedes-Benz Financial Services' 24/7 online remarketing tool has helped the captive finance company boost online sales of off-lease vehicles to dealers....
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DAVID BARKHOLZ

BLOG: Why Dale Pollak recommends a call center that employs blind workers

6:42 am U.S. ET | Oct. 14, 2014

Near the end of a conference in Chicago, vAuto founder Dale Pollak made a very personal appeal to the 170 hand-picked dealers present. Please consider, Pollak said, signing up for call center services from a nonprofit in Florida that employs blind and visually impaired people to handle calls for private companies....
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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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Ray Lambrecht, dealer who auctioned 500 vintage Chevys, dies at 96

4:50 pm U.S. ET | Oct. 2, 2014

Ray Lambrecht, the Nebraska Chevrolet dealer who auctioned off more than 500 cars last year, died Sept. 22 at age 96, his family confirmed to The New York Times on Tuesday....
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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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EDITORIAL

CPO program standards must be strictly enforced

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

It's unfortunate that automakers must sometimes temporarily bar an errant dealer from CPO participation, but it's a necessary step. General Motors and American Honda Motor Co. had no choice....
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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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New NAAA chief steps in as volume steps up

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

The past few years have been rough for the auto auction industry. But things are looking up, said Ellie Johnson, president-elect of the National Auto Auction Association....
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JLR launches sites targeting certified-used shoppers

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

Jaguar Land Rover has launched dedicated websites for shoppers of certified pre-owned vehicles as part of its effort to boost its dealers' used-vehicle sales and to prepare for rising off-lease volumes....
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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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