As part of CarMax Auctions Customer Appreciation Months for registered dealers, customers can look forward to upcoming events filled with catered meals and giveaways. Customer appreciation events are set to take place at each of the company’s 73 auction locations throughout September and October. CarMax Murrieta, the company’s largest auction facility on the West Coast, […] [Read More]

The past 24-month period has seen the highest level of subprime and deep subprime competition in history. Fueled by “cheap money” raised with Wall Street syndicated auto bond securitizations, the subprime auto finance market has grown to an estimated $200 billion. Auto finance receivables, for both new and used vehicles, as of March 31 reached […] [Read More]

Certified pre-owned vehicle sales fell 1.4 percent year-over-year in August, but are still on track for another record-breaking year. According to data from Autodata Corp., there were 230,013 CPO sales for the month, compared to 233,236 in August 2016. Certified sales were up 1.3 percent from July, when CPO sales fell 3.2 percent year-over-year.  Through […] [Read More]

Search Optics has been named a preferred provider for Mazda North American Operations’ recently launched Mazda Digital Certified Program (MDCP). The new program offers Mazda dealers new online marketing solutions designed to increase qualified website visits, attract more traffic to showrooms and provide customers a consistent shopping experience. “At Search Optics, results always come first […] [Read More]

While many of the August auto finance metrics Edmunds compiled and shared remained stable on a year-over-year basis, analysts did spot one rise that should be pleasing to finance companies. Edmunds noticed increases in down payments in August for both new- and used-vehicle transactions, compared to the same month last year. For new models, the […] [Read More]

The long-anticipated new project from auto industry entrepreneur and TrueCar founder Scott Painter has officially arrived.   Fair, an app that allows consumers to shop, get approved and pay for vehicles on smartphones, made its debut Tuesday in the Apple App Store. Painter, who stepped down from his TrueCar leadership posts in late 2015, co-founded […] [Read More]

Many young professionals are taking leadership roles in the auto industry and impacting the remarketing and used-car business. In Year 3 of Auto Remarketing’s annual Remarketing & Used-Car Industry’s 40 Under 40, you will find the current- and next-generation leaders of the business who are making big differences in the industry and at their respective […] [Read More]

As passionate as Jim Hallett spoke about the ways KAR Auction Services is geared up to handle the wholesale market workload coming because of Hurricane Harvey, the company’s chairman and chief executive officer emphasized more than anything during an exclusive conversation with Auto Remarketing on Friday how the well-being of nearly 1,000 employees in the […] [Read More]

Cox Automotive chief economist Jonathan Smoke on Friday estimated vehicle losses caused by Hurricane Harvey to come in between $2.7 billion and $4.9 billion in the Houston market alone. While that projected figure includes dealerships’ used-vehicle inventory since those units are classified as vehicles in operation, Smoke indicated that loss figure could swell even more […] [Read More]

Your thumbprint isn’t just for your iPhone any longer. FIS and Equifax recently teamed up to improve consumer experiences by bringing new levels of convenience and security to consumers challenged with maintaining multiple usernames and passwords to protect themselves from financial fraud and identity theft. The two companies jointly now offer OnlyID, an identity verification […] [Read More]