ADESA recently announced that via its new ADESA Rewards program, dealers can now earn points when they purchase qualifying vehicles and specialty units at U.S. auction locations and on ADESA.com. Earned reward points can either be converted for the purchase of merchandise, travel and gift cards or be used as ADESA Dollars that are valid […] [Read More]

As part of continued moves to strengthen its editorial team, Cherokee Media Group has added former Manheim and Cox Automotive chief economist Tom Webb as a guest contributor to its automotive and auto finance publications. Webb retired in summer 2017 after nearly two decades with Manheim/Cox Automtoive. Before he joined Manheim/Cox Automotive in 2000, Webb […] [Read More]

More than 2.8 million late-model vehicles hit the auction market last year, according to J.D. Power Valuation Services. This marked a 3.2-percent bump in late-model auction volume, the company said in its latest Guidelines report. Some of those, of course, would be off-lease vehicles. Cox Automotive is anticipating 3.89 million off-lease units in 2018, which […] [Read More]

As veteran used-car managers and wholesale price watchers understand, oftentimes luxury units take quite a price tumble during the time the vehicle leaves the factory to when it might end up in a store’s used inventory. It all stems from that critical first year of depreciation. The team at iSeeCars.com generated some fresh data to […] [Read More]

CarMax announced Friday that John Standley has retired, and its board of directors has elected new members Peter Bensen and Robert Hombach, effective April 1. Standley, chairman and chief executive officer of Rite Aid Corporation, retired from the board this past Monday because of other business demands, the company said. And Jeff Garten, Yale School of […] [Read More]

IARA announced Wednesday details about its upcoming town hall discussion on cybersecurity set for the last day of the Conference of Automotive Remarketing. Auto-ISAC’s Faye Francy and Jack Cooper Logistics' Andrea Amico will host the town hall next month. IARA said the two executives will discuss minimizing cybersecurity threats to the remarketing industry, along with […] [Read More]

Penske Automotive Group announced Thursday that it has raised over $1 million through its "Service Matters" campaign for the  Paralyzed Veterans of America. The annual campaign has now raised more than $3 million for the veterans service organization since 2015, the company said. This year, Penske has matched each donation — up to a total contribution […] [Read More]

Changing consumer behavior is forcing wholesale market experts to modify how they track pricing shifts. While recapping what happened in December, J.D. Power Valuation Services shared its latest wholesale price expectations for 2018, along with what analysts suspect will happen when the January data becomes available. According to the latest installment of Guidelines, J.D. Power […] [Read More]

Another busy week at the Consumer Financial Protection Bureau closed with a personnel move by the acting director that one legal expert called without hesitation, “a big deal.” According to an internal email first brought to light by The Washington Post and later obtained by SubPrime Auto Finance News, CFPB acting director Mick Mulvaney indicated […] [Read More]

After just narrowly notching another record year, sales of certified pre-owned vehicles climbed more than 5 percent in January. The CPO market began 2018 with 203,024 sales last month, according to Autodata Corp. This was a 5.3-percent hike over January 2017 — although it was also an 8.2-percent decrease from December. The Big 3 was the highlight of the […] [Read More]