Despite popular belief, due to a tight supply of high demand late-model used-cars, not all vehicles that pass the 100,000-mile mark begin to dramatically drop in value. That's according to recent data from Edmunds. Similar to the rate of depreciation that occurs between 50,000 and 100,000 miles, higher-mileage vehicles’ values are declining only incrementally between 100,000 […] [Read More]

For the fourth consecutive year, Enterprise ranks highest in overall customer satisfaction in the J.D. Power North America Rental Car Satisfaction Study released Wednesday. Enterprise has a score of 851 followed by National, Alamo and Hertz, with scores of 846, 828 and 822 respectively. Despite increased airport passenger congestion and construction at airports, overall consumer […] [Read More]

U.S. News & World Report announced its inaugural Best Certified Pre-Owned Program winner on Tuesday, recognizing the automaker that best provides peace-of-mind for CPO buyers. Winning the award in its debut year is Lexus. U.S. News & World Report will also recognize Lexus during the Used Car Awards luncheon, sponsored by TradeRev, this coming Tuesday […] [Read More]

Larry H. Miller Dealerships announced Monday that, for the fourth consecutive year, its Larry H. Miller Lexus, Larry H. Miller Downtown Toyota, Larry H. Miller Honda and Larry H. Miller Hyundai dealerships will fund the Union Gospel Mission’s annual City-Wide Thanksgiving Dinner for more than 1,000 homeless and low-income individuals and families. In addition to a […] [Read More]

AutoNation chairman, chief executive officer and president Mike Jackson didn’t hesitate to point out the reason why the dealer group’s used-vehicle sales during the third quarter jumped 6.4 percent year-over-year. AutoNation stores retailed 59,330 used vehicles during Q3, up from 55,760 units a year earlier. Jackson told investment analysts why stores moved more used metal […] [Read More]

Used Car Week (which is next week, by the way!) has some exciting new twists in store. One of those is the Used Car Awards (UCAs), which will make their debut during the conference, which is being held Nov. 13-17 at the La Quinta Resort & Club in Palm Springs, Calif.   The UCAs will honor […] [Read More]

Certified pre-owned vehicle sales were down 3.3 percent in October, but the year-to-date pace is still on par with the record figures from a year ago. According to Autodata Corp., there were 200,240 CPO sales for the month, compared to 207,105 certified sales in October 2016. However, the 2.22 million certified sales through 10 months […] [Read More]

Lithia Motors is moving closer to its used-vehicle sales goal. In its third quarter that ended Sept. 30, the Medford, Ore., new-car dealership group retailed an average of 67 used cars and trucks per store, per month. That was up from 65 in the year-ago quarter, said its president Bryan DeBoer. Lithia’s goal is to […] [Read More]

During the Q&A portion of Penske Automotive Group’s latest quarterly earnings call, chairman Rogers Penske was asked if his viewpoint on CarShop and CarSense had changed since the dealer group purchased the respective used-car standalone retailers.  “Yeah, it’s changed. I like it more,” Penske said with a laugh. “I think we’re very fortunate to get […] [Read More]

Sonic Automotive’s newest EchoPark used-car store in Colorado Springs, Colo., was “cash positive” in its third month of operation — about six months ahead of when the company’s initial EchoPark stores reached cash positive positions, said Sonic president Scott Smith. “EchoPark results were in line with expectations,” Smith said during the company’s third-quarter earnings call […] [Read More]