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News, blogs and commentary from the leader in North American automotive news



Last Build Date: Fri, 17 Nov 2017 06:00:00 EST

 



AutoNews Now: Price-fixing payouts for dealers

Mon, 13 Nov 2017 00:01:00 EST

Price-fixing payouts for dealers; 'Book by Cadillac' expands; Slowdown in CPO sales; Ford, Lincoln captives capture top ratings; Geely's flying-car buy; CarMax makes tasty offer.



Safety first for next auction group leader

Mon, 13 Nov 2017 00:01:00 EST

NAAA's board is expected to vote on mandatory safety standards for auction members at this month's annual convention, changing how buyers can act in the lane.



KAR stock price rises on strong Q3, higher dividend and forecast

Wed, 1 Nov 2017 10:19:19 EST

KAR Auction Services' stock price rose Wednesday after the company reported solid third-quarter results.



Scott Painter's startup Fair gets nearly $1 billion lift

Mon, 30 Oct 2017 00:01:00 EST

A startup trying to create a new channel for selling used vehicles just got almost $1 billion -- and a de facto endorsement from two major industry players.



Storm-driven demand expected to fade soon

Mon, 30 Oct 2017 00:01:00 EST

Used-vehicle buyers replacing rides lost in Hurricanes Harvey and Irma are boosting prices and trimming supplies, but the end of the storm surge is in sight.



Used-car fraud ring targets automated payoff systems

Sat, 28 Oct 2017 00:01:00 EST

Dealers and lenders are getting stung by a new type of used-vehicle sales fraud that takes advantage of banks' automated payoff systems.



6-figure pickup? It's nothing new

Mon, 23 Oct 2017 00:01:00 EST

Turns out, there's already a healthy market for six-figure pickups.



Fast recon boosts inventory of high-quality used cars

Mon, 23 Oct 2017 00:01:00 EST

As profit margins for new vehicles shrink, dealerships are looking to make more money from selling used cars and trucks. The number of U.S. vehicles coming off lease represents a treasure trove of potential inventory.



An army of tow trucks tackles Houston's flood-damaged cars

Wed, 6 Sep 2017 14:21:14 EST

How do you remove hundreds of thousands of damaged cars from a massive city still mired in water and muck? Tow-truck driver Alex Toll will tell you: one vehicle at a time.



Big dealer groups split on used-car ventures

Mon, 28 Aug 2017 00:01:00 EST

The publicly traded dealership groups are sharply split over stand-alone used-vehicle stores. Here's what drives their thinking.



CPO streak may be ending

Mon, 28 Aug 2017 00:01:00 EST

After several record years, certified pre-owned vehicle sales have slipped into neutral. Some, mostly smaller, players are still gaining, but several market leaders are in retreat.



Rock Connections to handle used car sales calls for Vroom

Tue, 22 Aug 2017 16:05:57 EST

Rock Connections is adding online used car retailer Vroom to its client list as the downtown Detroit call center continues to expand its local workforce.



Manheim bolsters its vehicle-valuation tool

Thu, 17 Aug 2017 10:50:55 EST

The Manheim Market Report has been bolstered to deliver more detailed valuations of used vehicles and thus streamline the remarketing process.



Are we coping with falling used-car prices? Depends whom you ask

Tue, 15 Aug 2017 14:56:28 EST

Declining used-vehicle prices bludgeoned second-quarter profits at Hertz and Avis Budget. Here's what they're doing about it.



Uncertainty grips rental-car agencies

Mon, 31 Jul 2017 00:01:00 EST

The immediate challenge is a declining new-vehicle market. Long term, the companies face disruptions to their business model from sharing services and autonomous technology.



Used-car market weathers the storm

Mon, 31 Jul 2017 00:01:00 EST

The market was bolstered in June by a dip in gasoline prices and an economy that remained strong, giving potential buyers confidence to buy used vehicles.



Manheim broadens reach with small auction sites

Mon, 31 Jul 2017 00:01:00 EST

Each of the locations will run one- to four-lane auctions #8212; the smallest Manheim has ever used.



Asbury Automotive exits its used-only operations

Tue, 25 Jul 2017 15:32:25 EST

Asbury Automotive is closing its remaining Q auto stand-alone used-car stores to redirect investments that will deliver better returns.



Carvana brings online used-car sales to Detroit

Wed, 19 Jul 2017 06:00:00 EST

Online used-vehicle retailer Carvana is opening up shop in Detroit, its 32nd U.S. market, vowing to relieve consumers of the need to spend time at dealerships.



BMW moves deeper into Silicon Valley with Shift investment

Wed, 19 Jul 2017 12:44:07 EST

BMW's venture capital fund poured $38 million in a Silicon Valley online used-car startup focused on younger buyers, the company said Wednesday.



Audi made an ad in China comparing a wife to a used car -- it's not going over well

Tue, 18 Jul 2017 15:17:49 EST

In an Audi commercial from China, a mother-in-law interrupts a wedding ceremony to inspect the bride, checking whether she's up to standard. The scene was used in an ad promoting used Audis.



Kelley Blue Book launches national TV campaign

Mon, 17 Jul 2017 09:00:00 EST

Kelley Blue Book, in its new ad campaign, is trying to tell customers that it can do more than give them the fair market value for their vehicle.



Seizing opportunities as competitors move upmarket

Mon, 10 Jul 2017 00:01:00 EST

The lender is expanding its portfolio with more used-vehicle loans and more prime and near-prime customers, even as some rivals flee upmarket.



NAAA survey shows 2016 was record year for used vehicles

Wed, 28 Jun 2017 14:10:23 EST

The National Auto Auction Association's annual survey found 2016 was a record year in units and dollars paid for used-vehicle auctions.



Association asks Mercer to study auction of the future

Tue, 27 Jun 2017 14:53:38 EST

The National Auto Auction Association has tapped Glenn Mercer to study the wholesale auction of the future.



Carvana: Cars in vending machines, a fading IPO and an ex-con behind them

Tue, 6 Jun 2017 08:38:54 EST

Who wants to buy a used car from a vending machine? Investors will get some answers on Tuesday when Carvana releases its first earnings report since going public.



Auction goes digital after Mass. tragedy

Mon, 5 Jun 2017 00:01:00 EST

One auction will soon no longer have vehicles enter its building during auctions.



Online auction ACV adds 8 markets

Mon, 5 Jun 2017 00:01:00 EST

ACV's expansion to eight additional markets shows that, despite the collapse of Beepi, there are still other startups seeking to find a niche in the remarketing world.



Will Facebook be the next big thing in online used-car ads?

Mon, 29 May 2017 00:01:00 EST

Facebook has the potential to be a major force in used-car sales with a new feature called Marketplace, which eases concerns about dealing with strangers.



CPO sales flat year-over-year

Mon, 29 May 2017 00:01:00 EST

U.S. certified pre-owned sales at the largest automakers have risen just 0.2% through April, bogged down in large part by significant declines at 3 of the 4 largest players.



Mini offers dealers bonuses for more used-car sales

Mon, 29 May 2017 00:01:00 EST

Mini executives want the brand's U.S. dealerships to pursue used-car sales with more vigor, so they're offering bonuses to dealerships that hit used-volume targets.



Online dealer delivers for mail carriers

Sat, 27 May 2017 00:01:00 EST

An online used-vehicle retailer specializes in an obscure but profitable niche #8212; right-hand-drive Jeep Cherokees from Japan.



Fifth fatality reported from auction crash in Mass.

Sun, 14 May 2017 07:32:18 EST

The death toll from this month's deadly auction crash rose to five as a 55-year-old man died from injuries sustained during the incident.



Growing U.S. used-car glut is a consumer's dream, automakers' nightmare

Fri, 12 May 2017 10:03:05 EST

A deluge of lightly-used cars in the US is good news for independent dealers, auto auction houses and car buyers. Not so much for automakers.



ADESA parent says Q1 net, revenue rise 14% on more auction activity

Thu, 11 May 2017 11:07:49 EST

ADESA parent KAR's first-quarter net income and revenue both rose 14 percent, driven in large part by a surge in income at its auctions. Acquisitions also pushed the results up.



Death toll from Mass. auto auction crash rises to 4

Wed, 10 May 2017 17:45:00 EST

A 50-year-old Massachusetts man died Wednesday as a result of injuries sustained during last week's deadly crash at an auto auction near Boston.



Toyota Financial growing -- and moving

Mon, 8 May 2017 00:01:00 EST

Toyota Financial Services is issuing more contracts for protection products than financing as it tries to both extend its lead as the nation's top auto lender and complete its move to Plano, Texas.



Fatal crash puts auction safety back in spotlight

Mon, 8 May 2017 00:01:00 EST

A deadly crash at a Massachusetts auto auction has brought a recurring question back into the spotlight: How can bustling, cramped auctions be kept safe?



Crash at Massachusetts auto auction kills 3

Wed, 3 May 2017 13:22:14 EST

Three people were killed at a Massachusetts auto auction Wednesday in what police believe to be an accidental crash.



New-car glut weighs on prices, profits

Mon, 24 Apr 2017 00:01:00 EST

A glut of vehicles is threatening the industry's good times. But contrary to the predictions and pundits, it's not too many used vehicles. It's too many new ones.



Used-car demand going strong at dealer groups

Mon, 24 Apr 2017 00:01:00 EST

Our annual ranking of the top 100 dealership groups by used-vehicle sales shows solid gains in used unit sales and revenues for those retailers.



Segment splits in wholesale prices

Mon, 24 Apr 2017 00:01:00 EST

Wholesale prices for full-size cars outperformed other car classes in March, gaining while auction prices for all other car segments fell.



Carbiz goes toe to toe with CarMax

Sun, 23 Apr 2017 00:01:00 EST

Some dealers shudder when they hear used-car giant CarMax is opening a store down the road. This used-only dealer deliberately placed his second store next to a CarMax. Here's his strategy.



Millennials may be fertile market for CPO

Sat, 22 Apr 2017 00:01:00 EST

Dealers have an opportunity to hook in millennial vehicle-buyers through certified pre-owned programs and make plenty of money doing so, data from Cox Automotive show.



KAR to buy data provider DRIVIN for $43 million

Wed, 19 Apr 2017 07:40:58 EST

KAR Auction Services will acquire DRIVIN, which aggregates automotive retail, pricing, registration and economic data to match vehicle inventory to dealer demand.



Donald Trump's former Ferrari disappoints at Florida auction

Mon, 3 Apr 2017 14:50:47 EST

President Trump's former 2007 Ferrari F430 F1 Coupe left the sale block before meeting reserve at auction on Saturday in Florida. Bidding on the car stopped at $240,000, $10,000 below its low estimate.



Out on a limb or off a cliff?

Mon, 3 Apr 2017 00:01:00 EST

Analyst Adam Jonas' latest forecast, on the used-car outlook, isn't getting much love from investors or the industry.



Velocity gains speed as driver of remarketing

Mon, 27 Mar 2017 00:01:00 EST

The glut of off-lease vehicles returning to market is causing the nation's two largest auction groups to double down on the concept of velocity -- albeit in slightly different ways.



Consolidation pays off for auction players

Mon, 27 Mar 2017 00:01:00 EST

A growing reliance on data and analytics in the remarketing space is driving recent auction consolidation, some industry experts say.



Used-car depreciation to accelerate

Mon, 6 Mar 2017 00:01:00 EST

Vehicle depreciation will reach 17.8 percent this year, up from 17.3 percent in 2016 and toward the high end of pre-recession annual depreciation, a report says.