Nearly 1 out of 3 car shoppers have negative equity on their trade-ins when they’re purchasing their next vehicle, according to Edmunds.com. Edmunds’ data shows that an estimated 32 percent of all trade-ins toward the purchase of a new car through the first three quarters of 2016 were underwater. It’s the highest rate on record, […] [Read More]

We all know today’s automotive market is tricky to navigate. As margins compress and sales slow, your job is to make sure that when consumers do decide to purchase a vehicle, they’ll purchase from your dealership. Of course, that’s all great in theory. Making it happen in practice, though, takes a complete understanding of exactly […] [Read More]

The latest Market Insights report from Black Book shows that while value declines slowed a bit last week, auction no-sales remained high. “Depreciation rate slows from steeper declines seen at the start of the quarter,” said Black Book’s Anil Goyal. “Smaller cars continue to show larger depreciation as opposed to larger crossover/SUVs.” Volume weighted, overall […] [Read More]

On Monday, ALG announced that Land Rover and Subaru placed as the top brands overall in its 2017 Residual Value Awards, an annual honor for brands and individual models with the highest retained value. Land Rover was recognized for the third consecutive year as the premium brand with the best overall residual values, while Subaru was […] [Read More]

KAR Auction Services has acquired Flint Auto Auction, which will now operate as ADESA Flint. “Fortifying KAR’s presence in the epicenter of the U.S. automotive industry has been a long-term strategic priority,” KAR chief executive officer Jim Hallett said in a news release. “ADESA Flint enhances KAR’s end-to-end remarketing platform in Detroit and positions us […] [Read More]

Here’s an opportunity dealers might be missing: consumers are willing to pay more for CPO than you think. On average, a consumer would shell out $3,000 more on a certified pre-owned car than a non-CPO version of the same car, according to the Cox Automotive 2016 CPO Study. But here’s the thing. Dealers think they […] [Read More]

Costco Auto Program announced that in the first month of its General Motors Holiday sales event, 70 percent of purchases were for truck crossover and truck segments. In addition to its members showing the most interest in the crossover and truck segments last month, Costco said October also included the highest registration day for a promotion. […] [Read More]

Two years after opening its second location in Moncton, Canadian Auction Express traded it for a larger site nearby. The new location, at 72 Urquhart Ave., has three lanes featuring state-of-the-art simulcast equipment and top-notch auction software, an 8,000-square-foot building and 5 acres of parking.  Last week’s grand opening attracted buyers from as far away as […] [Read More]

Cars.com on Monday announced the appointment of Brooke Skinner Ricketts as chief marketing officer, effective immediately. Skinner Ricketts most recently served as vice president of brand and design at Avant. Prior to that she was head of brand strategy at Twitter. “Cars.com is here to help people win, and by welcoming Brooke, we’re delivering on that promise,” […] [Read More]

You will see a “more holistic, enterprise approach” in a few areas at KAR Auction Services. The company announced Monday morning that it has created new enterprise functions and leadership roles in product development, data analytics and strategy to help drive innovation in the auction business. “Our industry is rapidly evolving, with emerging new markets […] [Read More]