Remarketing

Certified used sales poised for another record

12:01 am U.S. ET | Jan. 26, 2015

Buoyed by an uptick in off-lease vehicles flowing back into the market, the industry will sell at least 2.5 million certified used vehicles this year, breaking last year's record, some analysts predict....
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Service lanes can become source of used-car inventory

2:00 pm U.S. ET | Jan. 24, 2015

Brian Benstock has found that his own service department is the best place to shop for used vehicles. When the general manager of Paragon Honda in Woodside, N.Y. needs a used car or truck of a certain model year, color and trim level, he searches his database and invites owners of those vehicles into his service department. He offers them discounts on maintenance work....
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Reports aim to aid VW certified used sales

6:52 pm U.S. ET | Jan. 23, 2015

Volkswagen of America will provide free CarStory Market Reports to VW dealers to help educate consumers about the benefits of VW's certified used-vehicle program and to help dealers sell more certified used VW vehicles....
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ARLENA SAWYERS

BLOG: How will the newest metal in Detroit hold up in the used market?

2:12 pm U.S. ET | Jan. 15, 2015

When analysts who examine used vehicles and establish prices for them look at an all-new or redesigned car or pickup, they study exterior styling, engine specs and technical innovations. The also weigh factors such as price, incentives, competitors and deliveries to rental fleets....
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More off-lease pickups, SUVs and crossovers in 5 years, KBB says

6:23 pm U.S. ET | Jan. 11, 2015

Cars dominated the top segments of vehicles coming off lease in 2014, but the segments with the most projected off-lease growth in 2019, vs. 2014 volumes, will be SUVs, crossovers and pickups, analysts from Kelley Blue Book predicted Sunday....
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KAR Auction names Peter Kelly president of new digital group

1:53 pm U.S. ET | Jan. 8, 2015

KAR Auction Services, parent of ADESA, has named Peter Kelly president of its new Digital Services Group, effective immediately. Kelly, 46, co-founded Openlane in 1999 and has been KAR’s chief technology officer since 2013....
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Manheim aims to get auctions done faster

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

In October, Manheim began requiring sellers to set the starting bid on their vehicles no lower than three bids below their floor price....
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Retired rentals ding prices

12:01 am U.S. ET | Dec. 15, 2014

The talk in remarketing circles has been about how the rising tide of off-lease vehicles will push used-car prices down. But more retired rental units are destined to hit the market next year, too....
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DriveTime names Manheim, low-end vehicle auction as exclusive remarketers

4:07 pm U.S. ET | Dec. 11, 2014

DriveTime has named Manheim and Go Auto Exchange, an auction that specializes in dealer-to-dealer sales of low-end used vehicles, as its exclusive sales outlet for remarketing vehicles....
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Lack of 2014 retired rental units buoy Nov. auction prices

3:34 pm U.S. ET | Dec. 5, 2014

Strong used-vehicle demand and a sharp decline in retired rental vehicles offered at auction buoyed prices of used cars and trucks in November....
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Dealer's vintage car auction packs 'em in

12:01 am U.S. ET | Nov. 24, 2014

We reported last month on Dallas-area Ford dealer Sam Pack's plans to auction off 131of his 473 vintage automobiles in Dallas on Nov. 15. So how did things turn out? The event certainly attracted a crowd....
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Structural damage or fender bender?

12:01 am U.S. ET | Nov. 24, 2014

TrueFrame will inspect any vehicle, at a dealership's request, that has an accident on its history report. TrueFrame issues its own report if the vehicle passes its cosmetic and structural standards. The TrueFrame report is sent to the dealership that requested it and to vehicle history reporting companies such as Carfax Inc., which has agreed to link TrueFrame reports to its vehicle history reports....
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Next phase of multiplatform sales? Hold your horses

12:01 am U.S. ET | Nov. 24, 2014

Remarketers, auto dealers and others had hoped to hear at a remarketing conference this month about when the next stage in online multiplatform auction selling would arrive. But when Jay Cadigan, who represents Manheim in conversations with other key players hammering out details of the initiative, was asked about its timeline, he demurred....
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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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Nissan's Munoz on dealers: 'You grow or you go'

Nissan's Munoz on dealers: 'You grow or you go'

Nissan N.A. boss Jose Munoz continues to push U.S. dealers for a big jump in market share while deflecting complaints that his stair-step sales targets are too hard to achieve.
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