Cox Automotive chief economist Tom Webb called it “relatively unusual” that off-lease volume and retail sales of certified pre-owned vehicles were nearly identical last year at 2.55 million units. Webb is thinking off-lease volume this year will swell to about 3.1 million while CPO sales are “not nearly going to grow nearly that much.” He […] [Read More]

In an ever-expanding world of online vehicle buying, companies are finding their niche in every part of the process. Whether a company specializes in giving users vehicle listings, showing the appraised value of their current car, or even facilitating the entire purchase online, members of the industry are learning to adapt to what the customer […] [Read More]

Global online vehicle auction company Copart has announced the opening of a location in Cartersville, Ga., the company’s seventh location in that state. “We are excited to announce our new Georgia location and expand our inventory and services to members in this area,” Jay Adair, chief executive officer of Copart, said in a news release. […] [Read More]

While circling back as to how current wholesale price levels might impact movements during the second half of the year, Cox Automotive chief economist Tom Webb acknowledged scores of vehicles currently are sitting at auction because they have an open recall and cannot be sold. The situation might become even more obvious depending on how […] [Read More]

Columbus Fair Auto Auction announced that it has created its own compliance department, citing the need to designate resources to safety, environmental and other important regulatory issues. “We’ve recognized the need for a centralized approach for our compliance efforts and feel that we are in turn being progressive for auctions of our size,” Greg Levi, […] [Read More]

Otolane, an online used-car trading platform for North American dealers and wholesalers, has entered an exclusive partnership with Le Parking that will bring the Europe-based used-car listing data mining platform to the U.S. and Canadian pre-owned car markets. Through the partnership, Otolane users will have access to analytics and data from Le Parking designed to […] [Read More]

On Monday, Holman Automotive said it has completed its acquisition of Kuni Automotive. As they did when the transaction was first announced back in April, Holman officials said the terms of the deal will not be disclosed. The Kuni Automotive dealerships located in Washington, Oregon, California, Colorado and Kansas that were acquired will now operate as “Kuni […] [Read More]

The average price of a used vehicle for model years 2011-2015 fell by 1.7 percent during June, following 0.5 percent depreciation in May — typical of seasonal patterns, according to Black Book. Cars in June saw noticeably higher depreciation (2.2 percent) than trucks, which saw 1.3-percent depreciation for the month. All vehicles are averaging a […] [Read More]

Auto financing metrics within the American Bankers Association’s latest Consumer Credit Delinquency Bulletin showed mixed movement in the first quarter as the overall reading prompted the assessment that consumers continued to manage their finances responsibly. Delinquencies settled lower in seven of the 11 individual loan categories compared to the previous quarter, according to the ABA […] [Read More]

Continuing a string of developments that have included a new client and an integration with another industry service provider, loan origination system (LOS) provider defi SOLUTIONS recently announced that the company will be expanding its product offerings to include a full-service analytics and reporting platform. Stephanie Alsbrooks, chief executive officer and founder of defi SOLUTIONS, […] [Read More]