This is how good October was for the certified pre-owned business. For just the fifth time in history, the industry moved more than 200,000 certified vehicles in a single month, Autodata Corp said in a sales recap Wednesday. The 202,409 CPO sales for the month marked a 13.8-percent year-over-year increase and a 7.5-percent hike from […] [Read More]

A recent analysis released by Experian Automotive this week shines some light on the relationship between a consumer’s length of ownership of a vehicle and their likelihood of repurchasing their next vehicle from the same brand, otherwise known as brand loyalty. The relationship may surprise you. According to Experian’s data, the longer consumers hold onto […] [Read More]

AutoNation began the fourth quarter with an 8-percent increase in new-vehicle sales as company dealerships turned 24,844 new models in October. New-vehicle sales for AutoNation's operating segments were as follows: • 7,497 for domestic, up 7 percent versus last October • 11,917 for import, up 11 percent versus last October • 5,430 for premium luxury, […] [Read More]

The National Independent Automobile Dealers Association announced earlier this week that Shaun Petersen, the regulatory counsel for the NIADA, spoke to a New York City Council committee on Oct. 28 regarding the city’s proposed law that would make it illegal to sell a used vehicle with an open recall. The law would further require used-car […] [Read More]

The increase in lease returns isn’t just helping franchised dealers shore up their used-car supply. Apparently, it may also be leading to a lift in transaction prices for these dealers, according to the latest analysis on October used-vehicle sales from CNW Research. “Transaction prices rose more than 16 percent at franchised dealership to $15,678 thanks […] [Read More]

On Tuesday, Ford announced it is issuing five safety recalls in North America, but Blue Oval officials said that only one accident without injuries was attributed to any of the conditions. The single campaign covering the most vehicles is for 134,947 units — the Ford Flex and F-150 — because of a passenger seat occupant classification […] [Read More]

A federal investigation alleged Hyundai and Kia overstated the fuel economy of six late-model vehicles by 1 to 6 miles per gallon, depending on the specifications of the 1.2 million units involved. And the perceived misstep ended up costing the automakers a sum topping $350 million, one of the largest enforcement actions handed out by […] [Read More]

Lithia Motors generated a used-vehicle same-store retail sales increase of 13 percent during the third quarter, fueled in part by a 17-percent climb in the turns of certified pre-owned units. The CPO performance has the attention of Lithia leadership, but not necessarily for the reason industry observers might first expect. See, Lithia reported that sales of […] [Read More]

Penske Automotive Group’s quarterly conference call highlighted company records and third-quarter used sales increases. The group’s chairman, Roger Penske, also revealed some forward-thinking plans regarding company expansion and inventory strategy. “Today, we’re 69 percent, our business, in the U.S., and 31 percent international,” Penske said. “I think you’ll see us, as we go forward, we’ll […] [Read More]

Penske Automotive Group hosted their third-quarter conference call this week, outlining details on multiple company records. Penske posted its highest third quarter and nine-months income from continuing operations and earnings per share in company history. The company had total retail unit sales of 104,963 (U.S. and international combined), a 10.2-percent year-over-year increase. And the used […] [Read More]