At least one OPENLANE shareholder isn’t happy the company is being sold to KAR Auction Services, according to his class action lawsuit filed in Delaware state court last Friday. A member of Auto Remarketing’s group on LinkedIn pointed to a report on Law360.com that included many strong comments by plaintiff William Treadway. Treadway contends KAR’s proposed $210 […] [Read More]

While still extending a downward push, TrueCar discovered  it did take a little more money to move new metal last month than it did a year earlier. The site determined the average transaction price for light vehicles in the United States was $29,539 in August, up $388 or 1.3 percent from last August. While the […] [Read More]

As part of the celebration for Chevy’s 100th birthday — Nov. 3 — the nameplate’s fans were asked to vote for their favorite vehicle from throughout the brand’s history. After nearly 125,000 Chevy fans cast their votes, the 1969 Camaro was named the “Best Chevy of All Time.” Interestingly enough, the 1967–1969 Camaro also made […] [Read More]

Avis Budget Group confirmed Wednesday in its latest filings with the Securities and Exchange Commission that it will no longer pursue a $1.5 billion acquisition of Dollar Thrifty Automotive Group. As to the reason why, Avis officials stated, “We have made significant progress toward obtaining U.S. regulatory clearance for the acquisition of DTAG, and we […] [Read More]

General Motors was an early adopter in the certified pre-owned business when it began picking up steam in the 1990s, and these days, GM typically leads the pack in terms of overall CPO sales. But for one store, in particular, the core values of certification have been a part of the dealership’s mantra for more […] [Read More]

The Used Car Week Conferences — the National Remarketing Conference, the CPO Forum and the all-new Re3 Conference — today announced the launch of UsedCarWeek.biz, a one-stop portal for information about all three conferences. The Used Car Week is a weeklong series of three dynamic conferences for the used-vehicle industry, all in one location during […] [Read More]

It appears prices were surging in the certified pre-owned market during August, as AutoTrader.com reported Tuesday that 18 of the site’s 20 most popular CPO models saw their asking prices go up from a year ago. What’s more, 14 of those 18 increases were more than $1,000, the site pointed out. [Read More]

Vehicle rental companies are a vital source of late-model used-vehicle inventory, and the outlook and opportunities in the rental remarketing world are of key importance to dealers and remarketers throughout the industry. The 2011 National Remarketing Conference will focus on this important industry segment during a panel discussion on Nov. 17. Representatives from the nation’s […] [Read More]

What might sound like depressing economic news for consumers actually could be uplifting topics for used-vehicle dealers. Jonathan Banks, executive automotive analyst for NADA Used Car Guide, explained why the recent drumbeat of faltering employment levels and wavering consumer confidence will likely only continue to push potential buyers over to the used department rather than new-retail showrooms. […] [Read More]

Kelley Blue Book is turning to consumer-generated “diary” blogging for a new study that it hopes can shed some light on what makes car shoppers tick and how technology may need to adapt to their needs. KBB is looking for as many as 16 prospective new- or used-car buyers to keep a virtual diary of their […] [Read More]