The Ford Motor Co. will host its 2014 Ford Neighborhood Awards for the eighth consecutive time this weekend. For the first time in Atlanta, the ceremony, hosted by Steve Harvey, will continue its tradition of honoring local leaders and organizations for their contributions to their neighborhoods. For the second year, a $30,000 check will be given for the […] [Read More]

The Big 3 beat year-ago certified pre-owned sales by nearly 13 percent in July, and all continuous brands saw their numbers rise year-over-year, most by double-digit percentages. That’s according to Autodata Corp.’s preliminary data set sent on Tuesday, which indicated that domestics moved 69,231 CPO units in July. That was good for a 12.7-percent rise from […] [Read More]

The certified pre-owned programs among many import automakers fared well in July — European-brand CPO sales were up 20.6 percent year-over-year, and Asian brands climbed 3.6 percent, according to Autodata Corp. — but one particular trio of brands enjoyed their strongest months of all time. Autodata said in its preliminary set of data released Tuesday […] [Read More]

Reinsurance provider SideCars announced this week the launch of SideKick, its new online reinsurance software platform for dealers. The software, which is cloud-based, allows dealers to monitor their reinsurance companies online by giving access to limited warranties, service contracts, GAP insurance, collateral protection and business risks including cession statements, financial statements, tax returns and more […] [Read More]

There was just a shade under 200,000 certified pre-owned sales in July, according to preliminary results released this morning from Autodata Corp., which said this monthly sales figure is more than a 9-percent year-over-year increase. Specifically, there were 199,950 CPO sales for the month, up 9.4 year-over-year but off 10.4 percent from June. This monthly figure […] [Read More]

This year’s Vincentric Best Certified Pre-Owned Value in America awards were unveiled this morning, and leading the pack among OEMs were Ford and Toyota, each of which were represented by their respective brands’ vehicles in seven segment CPO category awards. Named best CPO value passenger car brand once again was Honda, which also won the […] [Read More]

A start-up retail vehicle company aiming to serve the sell-by-owner and corporate fleet markets recently closed a $5 million equity capital transaction to push its expansion efforts. CarLotz highlighted this capital was raised from the company’s existing investors as well as funds from a small handful of investors and executives with experience in national multi-site […] [Read More]

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]