Jason Laky, senior vice president and automotive business leader for TransUnion, explained that there are generally two reasons why consumers would want to take on a longer-term vehicle installment contract. One reason can be a positive for a finance company; the other motive perhaps not so much. “One is that they plan to hold onto […] [Read More]

By standards here in the Carolinas, it doesn’t feel particularly hot outside at this late-May, mid-morning auction sale. But still, the glass-door refrigerator next to the auction block at Manheim Darlington has a few handfuls of water bottles, free for the taking. The auction offers free water and utilizes mist-spraying swamp coolers in the lanes, says […] [Read More]

Auction Simplified, a provider of online vehicle auctioning systems, has announced a new feature: high-definition multi-lane simulcast, which it says is designed for independent auctions and franchised dealer groups already holding traditional lane sale auctions. “Up until now we focused on helping dealers start their own auction. With the addition of lane manager in March and now, […] [Read More]

You could very well look at Dealertrack’s  Tradetracker June vehicle appraisal report and think you were looking at any such report from the last several months. Continuing a year-to-date trend, the Ford F-150 and the Toyota Corolla were the No. 1 and No. 2 most appraised vehicles in Canada last month. Claiming the No. 3 […] [Read More]

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]