Expanding used supply means lower pre-owned prices — but analysts say trends on the new-car side of the market will serve to push used rates down every further. Analysts at ALG and RVI both cited new-car sales as a factor that will lower used prices in the coming years. According to ALG, this trend has […] [Read More]

As the digital age continues to develop, dealers have had to adapt at an ever-quickening pace to satisfy a perpetually evolving consumer base. For used-car customers, Penske Automotive Group announced during their second quarter conference call on Wednesday that one of their main conduits for sales is via their website. Roger Penske, the group’s chairman […] [Read More]

Used-car sales in July fell nearly 2 percent industry-wide and dipped more than 5 percent for franchised dealers, according to CNW Research. But dealers, particularly the franchised stores, should take heart. Trade-ins on new-vehicle sales will likely “spike” in August, CNW says, meaning franchised dealers should see a “solid” month on the pre-owned side. That would be on […] [Read More]

If you haven’t started actively considering how to attract more younger buyers, now might be the time to do so. According to a new study from J.D. Power, Generation Y consumers now make up a larger percentage of U.S. new-vehicle retail sales than their older Generation X counterparts. According to data collected by J.D. Power’s […] [Read More]

In addition to announcing record profits on Wednesday, Penske Automotive Group said it increased its worldwide used-car sales by more than 10 percent in the second quarter, with its year-to-date sum now ahead by more than 12 percent over year-ago figures. Penske sold 45,912 used retail units worldwide in Q2, a 10.4-percent increase in global […] [Read More]

Last month, one of the U.S. senators from the Empire State urged the Federal Trade Commission to take action to create more regulations in connection with dealers selling vehicles with open recalls that haven’t yet been repaired. Then on Wednesday, the Department of Consumer Affairs in New York City launched an investigation of 200 dealerships […] [Read More]

For only the second time this year, a truck model has cracked the national top 10 list of hardest-to-find certified pre-owned vehicles. According to monthly scarcity data that AutoTrader.com provides to Auto Remarketing, the Ram 2500 was the fourth-scarcest CPO vehicle in the country during June. This marks the first time since January that a […] [Read More]

The National Highway Traffic Safety Administration said Hyundai is recalling 883,000 Sonatas from the 2011 through 2014 model years because of a transmission issue. NHTSA determined the shift cable may detach from the shift lever pin in the affected vehicles manufactured between Dec. 11, 2009 and May 29. “If the transmission shift cable detaches while […] [Read More]

Group 1 Automotive’s overall second-quarter figures show a 3.6-percent year-over-year rise in used-vehicle sales and a 6.4-percent lift in new models retailed. But the unusual path company stores in various markets took to those top-line performances is what left president and chief executive officer Earl Hesterberg wondering what happened. Hesterberg described the used-vehicle market overall […] [Read More]

Like some dealers of all sizes are experiencing, Group 1 Automotive turned more used metal during the second quarter but watched its gross profit per vehicle soften year-over-year. According to its Q2 report released on Thursday morning, Group 1 stores in the U.S. retailed 22,707 used vehicles in the quarter, marking a 3.6-percent rise from […] [Read More]