As dealers looked to accelerate sales to close July, Black Book noticed vehicle depreciation moved in a similar way to finish the month. The latest Black Book Market Insights report indicated most vehicle segments increased in depreciation during late July. Out of all car and truck segments, editors determined full-size pickups retained their value the […] [Read More]

Carvana announced Wednesday it has brought its online retail platform to Phoenix, home of the company’s headquarters. This is Carvana's 33rd market. “As the home of our headquarters – and nearly 500 of our employees – launching in Phoenix is particularly meaningful for us,” said Carvana founder and chief executive officer Ernie Garcia in a news release. […] [Read More]

Certified pre-owned vehicle sales fell more than 3 percent in July, but year-to-date numbers still remain slightly ahead of the 2016 pace. That’s according to numbers released Tuesday by Autodata Corp. There were 227,045 CPO sales for the month, which was off 3.2 percent year-over-year but up 2.3 percent from June. Through seven months, there […] [Read More]

Both consumers and dealers likely want to know potential buyers’ credit standing in order to facilitate delivery, and a new product fueled by CoreLogic and Equifax rolled out on Wednesday aims to accomplish that objective. Analytics and data-enabled solutions provider CoreLogic launched BuyerConnect; a solution powered by Equifax that can be posted on a dealer’s […] [Read More]

With contract holders’ ability to pay paramount, 700Credit now is offering Income PreCheck, an instant income and employment verification solution that can help dealerships verify buyers' stated income and employment. The verification is derived by accessing The Work Number, a database of employer-provided income and employment information from Equifax Workforce Solutions. To help dealers gain […] [Read More]

If history is any indication, you can expect auction prices on late-model units to decline even more rapidly as the second half of the year continues. According to the latest Blue Book Market Report from Kelley Blue Book, there was a 2.6-percent drop in the auction values of 1- to 3-year-old vehicles in the second […] [Read More]

TrueCar and Best Friends Animal Society recently announced the start of "On The Road to #SaveThemAll," a joint campaign to raise awareness about the number of adoptable pets euthanized at shelters across the U.S each year. According to Best Friends Animal Society, 5,500 homeless pets are killed in the U.S. each day and nearly 2 […] [Read More]

Group 1 Automotive leadership offered a bit more explanation as to why used-vehicle retail revenue and gross profit softened during the second quarter with part of the reason why the company saying it had to tap inventory availability at auctions to fulfill its needs. Officials recapped that Q2 retail used-vehicle revenues decreased 4.2 percent on […] [Read More]

Black Book editors could have broken out a thesaurus on Tuesday when releasing their Used Vehicle Retention Index for July. Upon looking for the right adjective to summarize the latest reading, they could have picked among steady, stable, firm, fixed, unchanged or unwavering. The reason why is the July index reading came in the same […] [Read More]

CarMD recently launched CarMD Garage, its new turnkey online tool that provides car owners, used-car shoppers and auto industry partners with useful vehicle service and repair information. Using any vehicle’s year, make, model and mileage, the new service generates a free CarMD Garage Vehicle Health Report with information on how to both reduce the cost of vehicle […] [Read More]