More trucks and SUVs moved down the lanes in August, and KAR Auction Services chief economist Tom Kontos detailed how that change in volume mix impacted wholesale prices. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used-vehicle prices in August averaged $11,244, which was 1.8% lower compared […] [Read More]

The noticeable upturn in defaults finance companies might be used to seeing from July into August unfolded again this year, according to the S&P/Experian Consumer Credit Default Indices. Data through August from S&P Dow Jones Indices and Experian showed the auto loan default rate climbed 9 basis points to 0.98%, mimicking a track that analysts […] [Read More]

Two of the largest salvage auction companies are in different stages of their journeys as publicly traded companies. One on its way toward a first anniversary; the other breaking out silver to celebrate. For IAA, it’s taking its first steps being public after completing the spin-off from KAR Auction Services earlier this calendar year. For […] [Read More]

Cox Enterprises executive vice president and chief people and operations officer Jill Campbell says that Cox Enterprises has cultivated a unique culture that has empowered employees, invested deeply in communities and broken new ground in cutting-edge industries for more than 120 years. Commenting on the appointment of John Kovac as senior vice president, brand, marketing […] [Read More]

Joe Chura is a former dealership general manager who says he knows the importance of a website that makes a strong first impression for customers, “but is lightning fast, user friendly and built to convert.” Chura is chief executive officer and co-founder of Dealer Inspire, a Cars.com company that describes itself as providing disruptive technology […] [Read More]

Although extensive damage to Group 1 Automotive inventory and some of its facilities has occurred in the aftermath of Tropical Storm Imelda, the auto retailer said on Monday that preliminary assessments show all facilities are intact, and operations are open. Some of those facilities, however, are operating with limited services, Group 1 said.  Estimated total financial […] [Read More]

The Stanley-Autenrieth Auction Group, which includes Indiana Auto Auction and Carolina Auto Auction, has purchased the Fort Wayne Auto Truck Auction in Indiana. As part of the move, which was effective Sept. 13, Fort Wayne’s consignment and sales are being merged into Indiana Auto Auction. Both the Fort Wayne and Indiana auctions are in Fort Wayne, […] [Read More]

Car buyer search engine MotorCloud says it allows users to search once and see all vehicle listings anywhere online, streamlining the car shopping experience by using the Google model. It launched at the end of August at the Digital Dealer 27 event. MotorCloud says it has modernized automotive search by combining what it describes as […] [Read More]

In celebrating the grand opening of its Lexington, S.C. facility on Sept. 11, IAA said the facility will help accommodate increased customer capacity demands. However, the facility, which is IAA’s fourth branch in South Carolina, will “strategically enhance” IAA’s ability to serve the hurricane-prone Atlantic coastal region. “We are pleased to open this branch, which […] [Read More]

Fayetteville, N.C.-based Reed-Lallier Chevrolet’s used-vehicle sales increased by 30% after the dealer implemented SureSale Certified. Year-over-year, that was nearly three times greater than the average for the local market, according to SureSale, and early results show turn rates increasing by 10%.  “Year-to-date our used vehicle sales are up significantly, and the only thing that has […] [Read More]