December 2012

CNW Forecasts Strongest Used-Car Year Since 2007

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Fri, 12/21/2012 - 17:13 | BANDON, Ore.
By Auto Remarketing Editor Joe Overby

When 2012 full-year used-vehicle sales are tallied, the sum is expected to be a five-year high, according to CNW Research.

The firm’s Retail Automotive Summary released Friday afternoon said the industry’s final used sales count will likely reach 40.53 million units, which would be a 4.5-percent year-over-year hike.

What’s more, this would be the best yearly total since 2007, when 41.42 million used cars were sold. It would also end a four-year streak of used sales coming in under 40 million each year.


Edmunds Forecasts Landing Spot for Dec. Used Sales

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Fri, 12/21/2012 - 03:00 | SANTA MONICA, Calif.
By Auto Remarketing Staff
Jessica Caldwell

As we approach the holidays, it seems used-car shoppers may have been more focused on Christmas gifts than vehicle shopping.

Edmunds.com is estimating December’s used-car sales will amount to 2.71 million, for a seasonally adjusted annualized rate of 29.6 million.

This is compared to 2.77 million, or a SAAR of 38.7 million, used-car sales in November.

Moving along to highlight new-car sales, the site forecasts that 1,361,899 new cars and trucks will be sold in the U.S. in December for an SAAR of 15.4 million light vehicles.


Happy Holidays from Auto Remarketing

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Fri, 12/21/2012 - 02:59 | CARY, N.C.
By Auto Remarketing Editor Joe Overby

Auto Remarketing and Cherokee Automotive Group would like to wish all our readers a healthy holiday season and a happy New Year.  

This issue of Auto Remarketing Today will be the final edition of 2012 before we take a holiday break. Thank you for your interest and support this year, and we look forward to a great 2013.

Stay tuned for our upcoming print editions of Auto Remarketing to kick off the year. The Auto Remarketing e-newsletters will return on Jan. 2.
 


CarMax Q3 Sales, Revenue and Earnings All Jump by at Least 10 Percent

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Fri, 12/21/2012 - 02:58 | RICHMOND, Va.
By Auto Remarketing Staff
Tom Folliard

Pick a financial statement metric — net sales and operating revenues, net earnings, used unit sales, finance arm income — and CarMax posted a double-digit jump year-over-year during the third quarter of its current fiscal year.


RVI: November Sees Rise in Used Prices, But Increase May Not Last

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Fri, 12/21/2012 - 02:57 | STAMFORD, Conn.
By Staff Writer Sarah Rubenoff

November was a big month for the U.S., with the Northeast recovering from Hurricane Sandy and President Barack Obama being elected for a second term. And although there is still uncertainty for the future, the economy continues to move upward — right along with used-car prices, according to data from RVI Group.

In the company’s latest Risk Outlook report, RVI said used-car prices saw a monthly increase of 2 percent in November, and are up 4.4 percent year-over-year (for two- to five-year-old vehicles on a seasonally adjusted basis).


GM Recalling Nearly 119K Midsize Trucks

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Fri, 12/21/2012 - 02:56 | WASHINGTON, D.C.
By Auto Remarketing Staff
GMC Canyon

The National Highway Traffic Safety Administration said General Motors is recalling 118,800 midsize trucks because the hood of these units may be missing the secondary latch.

The models included in the campaign are the 2010 through 2012 Chevrolet Colorado and GMC Canyon trucks manufactured from Nov. 9, 2009, through Aug. 28.

If the primary hood latch is not engaged, NHTSA indicated the hood could open unexpectedly. During vehicle operation, officials said this condition could obstruct the view of the driver and increase the risk of a crash.


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