Wholesale

BANDON, Ore. — The combined residual value losses on leases written between 2005 and June 2010 are expected to be greater than $10.4 billion, a recent CNW Market Research analysis discovered. CNW president Art Spinella noted that the 2010 figure is adjusted based on "added unit sales due to leasing, lessee purchases of leased vehicles, production profits, […] [Read More]

DETROIT — A GMAC financing deal that GM Certified Used Vehicles launched last month has been stretched out, giving the automaker's dealers even more time to use this offer to bring consumers into the certified pre-owned segment.   Dealers can now offering the following financing deal through Sept. 7 to well-qualified customers on model-years 2005 through […] [Read More]

TORRANCE, Calif. — Honda is aiming to give consumers greater access to information regarding open recalls on its vehicles by now sending this data to Carfax. The company will pass along recall information each day to Carfax, which can help the automaker raise greater awareness of its safety recalls. "Recall completion is critically important to us," stated Jim Roach, senior vice […] [Read More]

TORONTO, Ontario — The Used Car Dealers Association of Ontario recently released a Dealer Alert explaining how the new Harmonized Sales Tax laws impact sales and leases to Status Indians. UCDA stressed to dealers that for a two-month period that began July 1, there will be a 13-percent HST applied to sales and leases to Status […] [Read More]

MISSISSAUGA, Ontario — Kia Canada has rolled out a new marketing campaign designed to not only spotlight the new design of its lineup and the progression of the Kia brand, but also share how the automaker has helped out in the community.  The multimedia "Drive Change" campaign is spread across television, the Web, billboard, cinemas, newspapers and magazines. Furthermore, […] [Read More]

MISSISSAUGA, Ontario — Following a three-month campaign to raise funds for an international charity focused on offering sports and play programs designed to help children and communities in need, Mitsubishi Motor Sales of Canada said it was able to donate more than $458,000. From April through June, the company gave $100 to the Right to Play charity for every vehicle its dealers sold. Combined with what Mitsubishi […] [Read More]

NEW YORK — A year after the Cash for Clunkers program launched, Paragon Auto Group has rolled out a new stimulus program that gives shoppers $3,800 to trade in their old ride for a new or used vehicle with better fuel economy. Paragon Honda-Acura's Cash for Clunkers II is the latest of such endeavors involving the company. […] [Read More]

FORT LAUDERDALE, Fla. — More and more dealers are utilizing leads beyond just looking at them as potential buyers of used or new vehicles. In fact, an AutoUSA study released Wednesday found that almost half (47.6 percent) share service marketing messages with these potential prospects. "In the past, dealers may have believed that the value of […] [Read More]

REDWOOD CITY, Calif. — OPENLANE and HomeNet Automotive entered into a partnership Wednesday with short-term incentives geared to help dealers list and move their aged inventory on the wholesale market. Dealers using HomeNet's flagship product — the Inventory Online Internet Marketing Suite — can publish used-vehicle inventory on OPENLANE's Open Auction. Officials contend the listings can assist these […] [Read More]

CARY, N.C. — Dealers and used-car managers who missed the chance to listen in and ask questions to a trio of wholesale market experts about how new-vehicle conditions are spilling over into the pre-owned space should not be frustrated. An archived copy of Tuesday's Pre-Owned LIVE, a monthly series hosted by the Pre-Owned Automobile Dealers Alliance, is […] [Read More]