Evidently, softening bidding activity Black Book spotted recently was more than just an aberration. In his latest edition of “Beggs on the Used Car Market,” Black Book managing editor Ricky Beggs recapped that, “Last week we made mention of an easing in the push for an extra bid or two. That trend continued into the […] [Read More]

As new-vehicle sales gather steam, dealers have an opportunity to ease some of their used-vehicle sourcing pain and help the new-vehicle sales department hit volume targets to earn factory bonus money: Keeping more trade-ins for retail. This is easier said than done, of course, but dealers would be remiss to not revisit their appraisal processes […] [Read More]

In light of surging gas prices, Swapalease.com surveyed consumers about how they plan to respond to the “wallop to their wallets.” What the website found is that “an overwhelming” amount are considering buying or leasing a more fuel-friendly ride. In fact, more than three-quarters of the respondents (77 percent) say they are thinking about buying […] [Read More]

KAR Auction Services announced today that it fully integrated the online, bid-now sales solutions of two of its subsidiary companies, ADESA and OPENLANE. It highlighted that the new platform — ADESA OpenLane — combines the vehicle inventory that was previously available on ADESA DealerBlock with the inventory available on OPENLANE.com into one unified online venue. […] [Read More]

Kelly Blue Book is cautioning dealers during the months ahead to watch out and make sure they don’t “overpay” for fuel-efficient vehicles running through the auction lanes. Though high fuel prices have made these compact and subcompact gas sippers a hot seller and an attractive option for many consumers, Kbb.com contends “with so many new […] [Read More]

Later this week, Flint Auto Auction will host its annual Corvettes and Classics Sale, which features a wide assortment of Chevrolet Corvettes, specialty vehicles and classic vehicles each year. The event will be held Wednesday in conjunction with the auction’s regular weekly sale. "Our Corvettes and Classics sale has become THE event of the spring, […] [Read More]

As a fellow executive said he “will be sorely missed,” American Auto Auction Group revealed late last week that chief executive officer Steve Simon resigned his position due to health-related issues. However, the group emphasized Simon will still continue as a member of its board of directors. AAAG board chairman and former GMAC executive Bill […] [Read More]

General Motors offered a wide-ranging update on its used-vehicle operations Thursday, including the success of Owner Care, the special certified pre-owned maintenance program the automaker launched almost a year ago, as well as expectations on when wholesale volume will pick up to aid franchised dealers. Larry Pryg, national manager of certified pre-owned operations, shared during […] [Read More]

Montreal-based XLane Holdings announced earlier this week that when it debuts its Mobile Appraisal Pad for the iPhone and iPad later this spring, the exclusive fleet company partner during the rollout will be Discount Car and Truck Rentals. The launch will take place May through June. “We remarket hundreds of vehicles each month, so speed […] [Read More]

Edmunds.com announced its second annual Best Retained Value Awards, which recognize the brands and new models that have the highest projected residual value after five years expressed as a percentage of the site’s True Market Value when sold new.   Headlining the winners revealed on Wednesday were Honda, which won the 2012 brand award for […] [Read More]