Remarketing

ADESA bows out of multiple platform auction sales

7:52 pm U.S. ET | Feb. 23, 2015
After investing nearly two years and “several million dollars” to help create online auction selling across multiple platforms, ADESA is bowing out, said Peter Kelly, president of ADESA's corporate sibling in charge of digital services....
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Salvage auction does a bang-up business

12:01 am U.S. ET | Feb. 23, 2015
Salvage auto-auction company Insurance Auto Auctions Inc., sibling to auction giant ADESA, has been on a growth spurt since December 2013. In that time, it has opened, acquired, reopened, moved or expanded sites in 13 markets. The moves were necessary to meet the demand of quickly disposing of wrecked vehicles, says CEO John Kett....
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VW sees 'banner year' for certified-used sales

12:01 am U.S. ET | Feb. 23, 2015
Volkswagen division's certified used-vehicle sales rose 17 percent last month to 7,675. It was the brand's best certified used-vehicle sales for a January and the beginning of a "banner year," said Michael Ashton, VW's senior manager of CPO and used-vehicle operations....
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Black Book's Beggs to retire April 1

3:33 pm U.S. ET | Feb. 17, 2015
Ricky Beggs, senior vice president and editorial director for Black Book, will retire April 1, the company said today....
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AutoWeb sells Web traffic -- but it's not stopping there

11:56 am U.S. ET | Feb. 14, 2015
There’s another Web traffic source for dealers to use. Miami-based AutoWeb is an online search company that allows dealers to see which vehicles potential shoppers are interested in....
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Exec: Enterprise holds steady on program cars

12:01 am U.S. ET | Jan. 26, 2015
Unlike its two closest competitors, Hertz Corp. and Avis Budget Group Inc., Enterprise Holdings is not increasing the percentage of its 2015 fleet filled by program cars, vehicles for which the automaker takes responsibility for remarketing, said the executive in charge of the company's vehicle acquisitions....
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Used-vehicle prices finish 2014 strong

12:01 am U.S. ET | Jan. 26, 2015
Greater volumes of off-lease, retired rental and other used vehicles returned to the market last year, but overall values of used vehicles closed 2014 with prices in December registering year-over-year increases....
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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

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

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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