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]

Beyond discussion about new bylaws and the organization’s second-ever industry scorecard, leaders of the American Recovery Association are most excited about the potential for one of the highest-attended annual conventions ever. ARA is assembling starting on Aug. 17 for a four-day event at the Westin Jersey City Newport Hotel in Jersey City, N.J. “I think […] [Read More]

The new-vehicle sales slowdown since 2008 is not only pushing wholesale used-vehicle prices higher, but Kelley Blue Book expects the supply of these used units to become even tighter. Contained within the residual value discussion in the August edition of the Blue Book Market Report, Eric Ibara, KBB’s director of residual value consulting, explained how […] [Read More]

While working with one of my clients covering a strategy on changing the price of a vehicle he had priced at $15,298, my first reaction was to tell him to reduce it down to $14,995 so he wouldn’t miss any searches done up to $15,000 because of $298. Then it dawned on me, don’t change […] [Read More]

Two Canadian auto lenders have struck a deal that is designed to help their mutual dealer customers in Ontario more easily facilitate subprime car loans. In talks between leaders of the two lenders — subprime lender Cars on Credit and floor-plan financer Clubb Finance Corp. — the companies both emphasized that dealers were most concerned […] [Read More]