Beepi merges with mobile car-buying platform co-founded by Scott PainterWed, 07, Dec 2016
Incentives, excess new-car inventory, put a drag on used vehicle valuesWed, 07, Dec 2016
An increase in new-car incentives and “channel stuffing” -- excess new-vehicle inventory on dealers' lots -- caused used-vehicle prices to tumble 1 percent in November, according to one closely watched used-vehicle price index released today.
AutoNation's about-face draws fire from 2 Senate DemocratsTue, 06, Dec 2016
A duo of Senate Democrats who've introduced legislation aimed at preventing the sale of used vehicles with unrepaired safety recalls blasted AutoNation Inc.'s reversal of its 16-month ban on the sale of such vehicles at its dealerships.
Texas auto auction company acquired by Capital Partners for XLerate GroupFri, 02, Dec 2016
Huron Capital Partners, a Detroit investment group, has acquired a Texas-based auto auction for one of its portfolio companies, the Indianapolis-based XLerate Group, which runs online and onsite auto auctions.
Penske to expand used-only storesMon, 05, Dec 2016
Penske Automotive Group has launched its own line of standalone used-car stores with the planned purchase of CarSense, which owns five used-only stores in the Philadelphia, Pittsburgh and southern New Jersey.
Penske acquires used-only dealership groupThu, 01, Dec 2016
Penske Automotive Group is adding used-only vehicle dealerships. The nation’s second-largest auto retailer has signed a deal to acquire CarSense, a stand-alone retailer of used vehicles with stores in Philadelphia, Pittsburgh and southern New Jersey.
AutoNation plans leap into auction businessMon, 28, Nov 2016
AutoNation is getting into the auction business in a much bigger way with plans to open four AutoNation-branded auto auctions over the next two years, going to five sites from one now. AutoNation expects to sell more than 20,000 vehicles annually at each of its auction locations.
CarMax expands used-car store footprintMon, 28, Nov 2016
CarMax, extending its lead over other publicly held auto retailers entering the stand-alone used-car store market, continues its expansion, opening its first store in Michigan this month. Store No. 167, near Grand Rapids, puts the retailer closer to its goal of becoming a national brand.
CPO has room to grow, but awareness lagsMon, 21, Nov 2016
Off-lease vehicle volume is growing faster than CPO sales, leaving room for those sales to grow, remarketing analysts say. But they add that greater consumer awareness of certified programs is needed for those sales to reach their potential.