RemarketingQ&A: Used prices expected to soften this year 3:52 pm U.S. ET | Feb. 10, 2013  As managing editor of Black Book, Ricky Beggs oversees the company's daily monitoring and analysis of national used-vehicle prices, providing dealers, auctions and automakers with the data needed for pricing and residual planning. Beggs spoke with Staff Reporter Lindsay Chappell during the National Automobile Dealers Association convention here.... Read More »
ARLENA SAWYERS Heavy snow won’t stop auction action, NAAA president says 6:22 pm U.S. ET | Feb. 9, 2013  The roads are blocked, businesses are closed and people have hunkered down in their homes as the Northeast rides out the great blizzard of 2013. But come Monday morning auto auctions located in the snow-covered Northeast will be ready for business, predicts Paul Lips, president of the National Auto Auction Association.... Read More »
Used-car auction volumes seen rising 5% in 2013 10:51 am U.S. ET | Feb. 9, 2013  New-vehicle sales to rental car companies in 2012 rose 11 percent to 1.55 million units in the United States, which will help increase the number of vehicles returning to the used-car market in 2013, predicts an annual report on the state of the used-car industry.... Read More »
REMARKETING Certified-used sales hit record in 2012 12:01 am U.S. ET | Jan. 28, 2013  Franchised dealers of all brands sold a record 1,834,746 certified used cars and trucks, a 5 percent increase over 2011, according to data compiled by the Automotive News Data Center and Autodata Corp. And certified-used programs aim to push forward this year.... Read More »
REMARKETING Sandy disrupts seasonal shifts in used-vehicle prices 12:01 am U.S. ET | Jan. 28, 2013 Used-vehicle prices ended 2012 on a high note, buoyed by the impact of Hurricane Sandy last fall, analysts say.... Read More »
Avis Budget, Zipcar to share cars 12:01 am U.S. ET | Jan. 7, 2013  Avis Budget Group Inc.'s proposed purchase of Zipcar Inc., a car-sharing company, will enable the combined company to meet swings in customer demand with fewer vehicles, the top executive at Avis Budget said. The result could be annual savings of $50 million to $70 million.... Read More »
REMARKETING ADESA begins Web site switch 12:01 am U.S. ET | Dec. 24, 2012  ADESA has a new, enhanced remarketing Web site that eventually will replace its current adesa.com.... Read More »
REMARKETING Analysts: Used-car prices will soften 12:01 am U.S. ET | Dec. 24, 2012 Used-vehicle prices in the first quarter are predicted to range from "strong" to down 1 to 2 percent from the year-earlier quarter. That's the consensus of analysts, who also predict that about 240,000 to 400,000 more off-lease vehicles will re-enter the market in 2013 than in 2012.... Read More »
REMARKETING Manheim buys transporter 12:01 am U.S. ET | Dec. 24, 2012 Manheim, the nation's largest auto auction company, purchased Ready Auto Transport, a vehicle transportation company.... Read More »
REMARKETING CPO sales ahead of last year 12:01 am U.S. ET | Dec. 24, 2012 Industrywide certified used-vehicle sales totaled 147,872 units in November, up 7 percent over November 2011, and totaled 1,678,410 units in the first 11 months of the year, up 6 percent over the same period in 2011, according to data compiled by the Automotive News Data Center and Autodata Corp.... Read More »
CarMax Q3 profit rises on surge in used-car supply, consumer confidence 9:22 am U.S. ET | Dec. 20, 2012  CarMax, the nation's largest used-car retailer, reported a stronger third-quarter profit as a rise in supply, more attractive financing options and improved customer sentiment helped it sell more vehicles to retail clients. Net income rose to $94.7 million, or 41 cents per share, in the third quarter from $82.1 million, or 36 cents per share, a year earlier.... Read More »
How Carfax locks up car history 12:01 am U.S. ET | Dec. 10, 2012 West-Herr Automotive Group of Blasdell, N.Y., believes vehicle history reports sell used vehicles. It chooses Carfax Inc. reports -- even though its used-car director, Jack Anderson, says they are overpriced. By making itself the brand consumers know, Carfax has become the dominant player in used-vehicle history reports. Exclusivity deals with third-party classified sites, such as Cars.com and AutoTrader.... Read More »
REMARKETING Industry tracks Sandy-damaged cars 12:01 am U.S. ET | Nov. 26, 2012  Keeping cars and trucks that were damaged by Hurricane Sandy out of the nation's pool of used vehicles won't be easy. But automakers, auction houses, inspection companies and vehicle-history reporting agencies are among those working to make sure that Sandy-flooded vehicles are either destroyed or sold with titles describing their true condition.... Read More »
REMARKETING What works for you? Dealers share used-car strategies 12:01 am U.S. ET | Nov. 26, 2012  Several dealers and dealership managers outlined their used-vehicle strategies during a panel discussion at the National Remarketing Conference.... Read More »
Used-car demand up after Sandy 12:01 am U.S. ET | Nov. 19, 2012 Since Hurricane Sandy ravaged tens of thousands of vehicles on the East Coast, used-vehicle pricing and demand are headed in a familiar, post-disaster direction: higher and higher.... Read More »
Hertz' $2.6 billion purchase of Dollar Thrifty cleared by FTC 7:34 am U.S. ET | Nov. 15, 2012 Hertz’ $2.6 billion purchase of Dollar Thrifty Automotive Group was cleared by U.S. antitrust regulators after the company agreed to divestitures ensuring the deal doesn’t harm consumers.... Read More »
GM Financial taps DataScan, Openlane.com to remarket off-lease vehicles 3:44 pm U.S. ET | Nov. 14, 2012 General Motors Financial will tap DataScan Field Services and ADESA auction company’s Openlane.com to help dealerships process off-lease vehicles starting in December, the financial company said today.... Read More »
Hertz to divest more outlets to win approval of Dollar Thrifty deal, report says 1:50 pm U.S. ET | Nov. 12, 2012 Hertz has agreed to shed more airport locations than previously offered, which may lead the Federal Trade Commission to allow the $2.6 billion acquisition of Dollar Thrifty Automotive Group Inc. to go forward, two people familiar with the negotiations told Bloomberg.... Read More »
How Sandy-damaged cars will be replaced 12:01 am U.S. ET | Nov. 12, 2012 Used vehicles from the West Coast could be shipped across the country to help East Coast dealers meet the anticipated demand for replacing vehicles damaged by Hurricane Sandy, says Paul Lips, executive vice president for operations and finance at auction company ADESA.... Read More »
ARLENA SAWYERS Saying no to Sandy-soaked vehicles 3:27 pm U.S. ET | Nov. 9, 2012  Hurricane Sandy hit Manfredi Auto Group’s Mazda Kia Mitsubishi dealership in Staten Island pretty hard. That has forced them to be extra vigilant in planning how to cope post-disaster. Other dealerships might do well to consider taking similar steps.... Read More »
HURRICANE SANDY: THE AFTERMATH Used-car prices expected to rise 12:01 am U.S. ET | Nov. 5, 2012  Customers replacing damaged vehicles in the wake of Sandy will push up used-vehicle prices across the country, used-vehicle experts say.... Read More »
The remaking of remarketing 12:01 am U.S. ET | Oct. 22, 2012  Buying and selling used vehicles at wholesale used to be pretty straightforward: You would just go to the local auto auction. If you couldn't find what you wanted, you would go to the next week's auction in another town. But now buyers and sellers have a range of nontraditional choices.... Read More »
Mama Sonic takes charge of used sales 12:01 am U.S. ET | Oct. 22, 2012  A new, centralized inventory management system now rolling out across Sonic's dealership network, crunches real-world sales data to help store-level employees offer the best possible price to customers looking to sell their existing vehicles.... Read More »
REMARKETING Experiments in auctions: Trying new formats 12:01 am U.S. ET | Oct. 22, 2012  American Auto Auction Group exemplifies how the remarketing industry is experimenting with new formats to help dealers sell their unwanted used cars and trucks. The 3-year-old Charleston, S.C., company operates 13 private-label and mobile auctions designed to match local franchised dealers who have vehicles to sell with local independent used-car dealers who want to buy vehicles.... Read More »
FINAL ASSEMBLY As clunker impact ebbs, used-car prices will fall 12:01 am U.S. ET | Oct. 22, 2012 In the summer of 2009, the federal cash-for-clunkers program removed about 750,000 used vehicles from the market, putting the supply and demand equation out of whack to this day. But that imbalance is finally being rectified, says Ricky Beggs, managing editor of Black Book, the market and residual-tracking service.... Read More »
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