Used-truck values were initially expected to climb 6 percent in the upcoming quarter, but that surge may end up being even higher, according to NADA Used Car Guide automotive analyst Jonathan Banks. How? The current gas-price dynamic, he indicated. “Looking ahead, we anticipate that light truck values will do well during the upcoming quarter primarily […] [Read More]

The board of directors at Group 1 Automotive has given the green light for up to a $25 million repurchase of the retailer’s common stock. Group 1 plans to use cash from operations to pay for the repurchase. There were 23.6 million shares of outstanding common stock as of June 30. The company will hold […] [Read More]

In the last few years, Ron Bloom has been instrumental in shaping some of the federal government’s most influential policies regarding the U.S. auto industry, including the restructuring of General Motors and Chrysler and the recent agreement to bump up gas-mileage standards. And on Tuesday, it was revealed that President Obama’s top manufacturing policy chief […] [Read More]

In pitching what it finds to be the 2011 Top 10 Back-to-School Cars, Kelley Blue Book threw in a little bit of a change-up. This year, Kbb.com selected five used cars and five new cars, ranking each category separately. To compile the lists, editors recommended new and used rides that allow high school and college […] [Read More]

Spurred by high demand and shrinking supply, asking prices for certified pre-owned vehicles surged in July, according to AutoTrader.com, which saw a year-over-year price bump in 17 of the site’s 20 most popular CPO models during July. What’s more, 13 of those increases were greater than $1,000. The CPO price hike was particularly evident at […] [Read More]

According to Edmunds.com chief economist, consumers and dealers need not worry about the recent stock market turmoil negatively affecting the new-car shopping process. Noting a few issues that are particularly important to new-car buyers, Lacy Plache concluded that despite the recent stock market downturn and downgrading of U.S. credit rating, car loans will still be available, […] [Read More]

Consumer sentiment and confidence in the economy fell to its lowest level since 2009 and registered the sharpest drop in two years as debt ceiling debate turmoil in Washington revealed the realities of a weak economy, according to August’s Consumer Reports Index. Though most numbers regarding the automotive segment remained even with July, used-vehicle purchases […] [Read More]

While the message delivered recently by the Federal Trade Commission about vehicle warranty rejections is aimed toward consumers, it still highlights reminders for some dealers and automakers. [Read More]

As Hertz Global Holdings announced it extended the expiration date of its exchange offer for the company, Dollar Thrifty Automotive Group reported a slight uptick in second-quarter net income. DTAG officials computed that their second-quarter net income settled at $42.5 million or $1.36 per diluted share. In the year-ago period, the level was $42.3 million […] [Read More]

With short-term leases still going strong on LeaseTrader.com, site officials also noticed when reviewing their July trends that Toyota and Lexus lease buyouts appear to be easing. LeaseTrader.com explained that Toyota and Lexus — still bouncing back from production and inventory issues stemming from March production setbacks — saw continued lease buyout activity from lease […] [Read More]