UPDATED to correct October monthly industry/domestic/Asian/European sales figures Certified pre-owned vehicle sales fell on a year-over-year basis for the second straight month, but are still up 3 percent year-to-date, according to Autodata Corp. With 2.21 million CPO vehicles sold through 10 months of 2016, full-year sales can still beat last year’s 2.55 million sales and mark […] [Read More]

A preview of some of the enlightening discussions on tap for this year’s Re3 Conference presented by MBSi Corp. is scheduled for the final edition of Used Car Week Live. The online video event set for 2 p.m. ET next Thursday will include Cort DeHart, who is both vice president of business development at Agero and […] [Read More]

PointPredictive, a provider of machine learning fraud solutions, recently announced the results of a new study that detected high levels of fraud in early payment auto finance contract defaults. The firm explained its study encompassed data from millions of auto finance applications submitted by dealers all over the U.S. across all vehicle types.  PointPredictive auto […] [Read More]

Prestige Financial Services recently completed its 15th rated term securitization, issuing $343.6 million in securities backed by $369.46 million in automobile installment receivables. In a transaction led jointly by Wells Fargo Securities and J.P. Morgan Securities, the finance company highlighted notes were purchased by qualified institutional buyers in a private offering pursuant to Rule 144A […] [Read More]

The view appears rosy for pre-owned operations at Sonic Automotive, including expansion in its EchoPark standalone used-car stores. The dealer group had its best-ever quarter for used retail sales and achieved more than 58-percent growth in its EchoPark sales, according to its quarterly earnings release. Sonic retailed 30,933 used cars in the third quarter, an […] [Read More]

When it comes to smaller new-car segments, one of the trends at play in the slowdown is “an affordability issue,” says Autotrader senior analyst Michelle Krebs.  “There are just many consumers who are being frozen out of the new-car market,” Krebs said during the Q&A portion of sales day conference call with the media on […] [Read More]

Carjojo’s goal is simple: to change the way people buy cars. The company’s website, which officially launched on Tuesday after three months of open beta testing, is a big step in that direction. Carjojo says it’s the first company to show car buyers detailed information — and to predict actual prices — on all of […] [Read More]

After a spate of no-sales two weeks ago, lane watchers from Black Book reported more robust conditions at auctions throughout the U.S. last week. “Sales were better today than last week, with units $12,000 and under selling the best,” said one in Tennessee. Also in this week’s Market Insights report, a Black Book rep in […] [Read More]

They might not always appear on the driveway wrapped in a giant bow, but gifted cars — either to a loved one or one’s self — are a big deal. And millennials, it turns out, are the demographic most likely to be doing the gifting. According to eBay Motors’ just-released Holiday Automotive Gifting Survey, millennials […] [Read More]

The Consumer Financial Protection Bureau (CFPB) has not come out unscathed in the wake of the Wells Fargo scandal. While some say the CFPB’s enforcement action demonstrates a need to strengthen the agency, others use the scandal as a case study to demonstrate the bureau’s inept and over-reaching practices. What’s behind the controversy surrounding the […] [Read More]