While showing some lift when only considering the March data on a sequential comparison, the pace at which bankruptcy filings are declining continued to slow during the first quarter, according to data shared by the American Bankruptcy Institute this week. Data provided by Epiq Systems showed total U.S. bankruptcy filings fell 5 percent in the […] [Read More]

Cox Automotive chief economist Tom Webb looked to quell any negative reactions because wholesale used-vehicle prices declined again in March, marking the third consecutive drop. The streak left the Manheim Used Vehicle Value Index — a measure of wholesale prices adjusted for mix, mileage and season — at a reading of 122.5 in March, representing […] [Read More]

ADESA has named Paul Lips its chief operating officer for the U.S. He is being promoted from his current role as executive vice president of operations and finance. This move coincides with a new structure for ADESA’s auction groups. In the new post, Lips will head up the entire U.S. auction operations group for ADESA, […] [Read More]

You can expect 3.1 million off-lease units to hit the market this year, which is 800,000 more than there were in 2015, according to a data in a presentation from NADA Used Car Guide at last week’s NADA Convention & Expo. This is expected to drive late-model supply to 13.4 million units this year, which […] [Read More]

Moody’s Investors Service not only spotted the trend but pinpointed seven different finance companies that might be causing the softening performances in U.S. subprime auto asset-backed securities during the past few years. Analysts indicated in a report released on Thursday that a growing number of transactions from smaller finance companies that cater to weaker-credit borrowers — […] [Read More]

Full-size vehicles and sports cars told the Canadian used-car price story in March. These segments, up 56.6 points and 33 points respectively, were the drivers of the Manheim Canada Used Vehicle Value Index for the month, the company said in a statement. Overall, the index was up close to 4 percentage points from February, with […] [Read More]

It’s not just that millennials in Canada are dissatisfied with the car-shopping process (and they are, by the way). Based on the findings of a CarGurus study, they almost seem disinterested in the dealership experience, altogether. In fact, less than a fifth (19 percent) of 18- to 29-year-old Canadian car shoppers put a big emphasis […] [Read More]

I have to give kudos to Tony Moorby and his excellent historical perspective during his presentation at CAR. The one key piece I focused on and pondered during the entire conference, because it intrigued me, was when he reminded us all that when we thought the sky was falling when governments outlawed odometer and title "adjustments," the […] [Read More]

Creeping up. Forms of that phrase were used by both Kelley Blue Book and Jonathan Banks of NADA Used Car Guide to describe the current state of new-car incentives. And one area, in particular, could be an interesting spot for the industry, if not done right: lease incentives. While a “throwback” vibe is in full […] [Read More]

This week, MetroGistics promoted three of its employees into managerial positions at the automotive logistics services provider. Brittany Twist, Alisha Bray and Alycia Lamartina all have new roles as Twist is now claims manager while Bray and Lamartina are both operations managers “We’re thrilled to promote all three valued employees,” MetroGistics co-founder and managing partner […] [Read More]