While perhaps dealers might be seeing some instability at their stores, what they’re experiencing in the auction lanes appears to be the opposite based on what Black Book shared in its latest installment of the Market Insights report. Editors found that value decreases last week for both cars and trucks both landed within 5 basis […] [Read More]

Groupe PSA describes Peugeot as “an iconic, two-centuries-old brand.” With that in mind, the company has named Peugeot as its chosen brand in its move back into the North American market. The company stated that Groupe PSA will market Peugeot on five continents when it introduces the brand in North America. Groupe PSA further describes Peugeot as […] [Read More]

If you are part of the used-car retail or remarketing industry, you might know Ron Hope as the president and chief executive officer of Capital Automotive Reconditioning Services (better known as CARS Recon), a company he founded in 2002. Of course, Hope's background in the auto industry, according to a company bio, goes back a lot […] [Read More]

In a move aimed at development, launch and delivery of products and services, ADESA named Kurt Madvig vice president of product development. Madvig joined parent company KAR Auction Services in 2001 as an auction general manager to establish and develop ADESA Long Island in New York.  Soon after the launch of the Long Island location, Madvig joined […] [Read More]

Another cluster of family owned dealerships is departing the industry and selling to a larger group. According a to a news release distributed on Tuesday, Kerrigan Advisors represented and advised Minnesota-based Village Automotive Group in its sale of Lexus of Wayzata, Lexus of Maplewood and Village Chevrolet to Chicago-based Ed Napleton Automotive Group, which operates […] [Read More]

Top executives from Equifax, Experian and TransUnion all appeared on Capitol Hill on Tuesday for a hearing orchestrated by the U.S. House Financial Services Committee, which is seeking revamps to how credit reporting is completed. And one of the companies offered six recommendations to assuage concerns about what some lawmakers are considering to be outdated […] [Read More]

America’s Car-Mart expanded its network of buy-here, pay-here dealerships, according to an announcement distributed on Tuesday. The company said it reopened a store located in Tyler, Texas, lifting its total dealership count to 144. Car-Mart now has 13 dealerships in Texas. Car-Mart added that bringing the store back in Tyler marked the fifth dealership opening […] [Read More]

Auction accidents happen, especially when vehicles are driven through the lanes. To minimize the chances of vehicle accidents, ADESA has established what it calls VirtuaLane at 20 of its 75 physical auctions in the North America. A VirtuaLane sale has all the trappings of typical physical auction lanes: an auctioneer, ring men and dealers bidding […] [Read More]

There will likely be about 3.5 million used vehicles sold this month, beating January figures of 3.1 million, Edmunds projected in its latest monthly auto-sales forecast, which was released last week. The seasonally adjusted annualized rate is expected to come in at 39.3 million, versus 39.2 million a month ago, according to Edmunds. In similar, […] [Read More]

It’s one of life’s greatest frustrations: Finding a place to park. Making the problem even more frustrating is the fact that many businesses, including car dealers, have under-utilized parking spaces available. A new app promises to help solve that problem. Parkedit.Space is designed to connect owners of underutilized parking spaces with drivers and auto dealers […] [Read More]