Gross profits per used unit were down, but Penske Automotive Group retailed close to 15 percent more used vehicles last year, capping 2013 with a 17.8-percent increase in used sales for the fourth quarter.   This was part of a record-breaking overall year for Penske, whose leadership called it the “most successful” the retailer has […] [Read More]

In the fourth quarter, the percent of used-vehicle sales at franchised dealerships comprised of certified pre-owned vehicles was at a seven-year high, according to Edmunds.com, which is projecting another record CPO year. Edmunds said in its latest Used Market Quarterly Report that certified units represented 20.2 percent of all used sales by franchised dealers in […] [Read More]

After years of unusually high used-car prices due to tight used supply, prices finally began falling in 2013. And the rate of decline is predicted to speed up this year, perhaps turning many consumers’ eyes toward used deals. According to Edmunds.com’s latest Used Market Quarterly report, expanding supply will serve to push pre-owned prices down […] [Read More]

The Automotive Trade Association Executives, which represents 115 state and metro new-car and -truck dealer groups in the U.S. and Canada, has chosen a new chairman for 2014. Elected to the position is James Appleton, who is also president of the New Jersey Coalition of Automotive Retailers. “There has never been a moment in time […] [Read More]

When it comes to the certified pre-owned market, one of the key themes Black Book’s Ricky Beggs sees is opportunity.  Opportunity in the remarketing channels to take advantage of greater off-lease volumes, for OEMs to maintain brand strength and for dealers to quickly turn their inventory. (Not to mention, dealers will have a lot more […] [Read More]

Thirteen import brand certified pre-owned programs hit best-ever years in 2013, according to Autodata Corp., and nine of these brands have started 2014 ahead of last year’s pace. And most of the two dozen Asian and European automakers included in Autodata’s set showed year-over-year increases in CPO sales for January. Despite losing a bit of […] [Read More]

Urban Science announced a partnership with third-party sales lead transactions company LeadiD late last week. The company explained this partnership will provide Urban Science with verified lead origins and histories, “allowing for more educated lead-buying decisions and, in turn, an increase in dealership productivity and profitability.” “Urban Science is committed to finding new ways to […] [Read More]

Group 1 announced its Q4 and full-year 2013 financial results on Wednesday, reporting a 19.3-percent increase in revenue and considerable growth in used-vehicle gross profit. The dealership group president and chief executive officer Earl Hesterberg also noted he expects increasing used supply to contribute to a “more favorable” industry-wide pre-owned market going forward — one that […] [Read More]

Led by a year-over-year sales increase of nearly 27 percent from Ford, the Big 3 grabbed about three-and-a-half additional points of certified pre-owned market share in January as all the automakers posted nice lifts in CPO sales, according to the latest report from Autodata Corp. All told, certified sales for the Detroit automakers totaled 59,648 […] [Read More]

Manheim’s Tom Webb said during a press conference at the NADA Convention & Expo last month that he “can pretty much guarantee that CPO sales are going to hit a record again this year.” Well, they’re certainly off to a good start. Fresh off the third straight record year for certified pre-owned sales, last month […] [Read More]