Certified pre-owned vehicle sales continue to be a bright spot for franchised dealerships this year, and KAR Auction Services chief economist Tom Kontos explained how those vehicles that become CPO units helped consignors and the wholesale market in July, too. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model […] [Read More]

For the second time this month, the Justice Department announced prison punishments for charges related to fraudulent auto financing. Not long after getting a judge to sentence a Wisconsin man in connection with a Ponzi scheme fueled by luxury vehicles, officials announced details involving seven defendants for their roles in a bank fraud conspiracy they […] [Read More]

Consumer Portfolio Services is leveraging technology to improve both decisioning on applications that arrive from dealers as well as the finance company’s evaluation of those stores where those potential originations first surface. CPS shared in a message with SubPrime Auto Finance News that this month the company has been “stepping up” automated verifications of consumer […] [Read More]

A search tool geared toward increasing consumer awareness of auto recalls has reached a milestone: One hundred million vehicles have now been processed through the tool. Carfax, the Alliance of Automobile Manufacturers and the Association of Global Automakers jointly developed the Vehicle Recall Search Service, which launched in March 2018. Those groups say approved commercial […] [Read More]

Lots of people like vehicles such as the Chrysler Pacifica, Honda Fit and Jeep Wrangler. According to Autotrader, pets and pet owners like those vehicles, as well. Autotrader says those and other vehicles on its Best Cars for Dog Lovers list this year are safe and comfortable for those pets and their owners. Celebrating National Dog […] [Read More]

Asset and operations management is one of the biggest challenges for auto dealers. That’s according to TrueSpot, a new Internet of Things asset location platform developer, which has commercially launched what it says is the industry’s first real-time mapping and inventory product for auto dealers. TrueSpot says its new product can solve the asset and […] [Read More]

Joe Oliveri of KAR Global joins us at the Automotive Intelligence Summit in Raleigh, N.C., where he led a presentation on the "Crossroads of Data, Analytics & Machine Learning." The full discussion can be found below. Download and subscribe to the Auto Remarketing Podcast on iTunes or on Google Play.  You can also listen to the latest episode in the […] [Read More]

Among the financial details reported for second quarter 2019 by Group 1 and Asbury were perspectives on emerging vehicle technologies and their benefits to these companies’ service operations. Group 1 said repair costs are not likely to “materially change” soon, but the nature of the (vehicle) components needing attention will shift. “As vehicle complexity continues […] [Read More]

Used-car performance for the second quarter of 2019 over the same period last year was up slightly for public dealership groups Penske Automotive, Asbury Automotive and Group 1 Automotive, according to each group’s second-quarter financial filings, press releases and Q2 presentations to investors. • Penske reported that same-store used vehicle retail revenue (U.S. operations) was […] [Read More]

After announcing in April that it would bring Kelley Blue Book to Canada, Cox Automotive Canada on Aug. 14 announced the arrival of MarketLens and Pricing Service Industry Solutions of Kelley Blue Book for its clients and dealers. Kelley Blue Book notes that it has been a voice for vehicle valuations and automotive research in […] [Read More]