Record auction sales volumes are expected this year (9.7 million units) and next (10 million) thanks to continued gains in commercial consignment, according to National Auto Auction Association chief economist Ira Silver. In a July webinar, Silver explained that unlike dealer consignment — a metric that more immediately reflects the new-car environment, which has slowed — […] [Read More]

Two economic trends important for buy-here, pay-here operators to watch — employment and bankruptcy filings — both improved in July. According to the latest U.S. Economic Update produced by Comerica Bank, the nation’s economy added a strong 255,000 net new jobs in July following what the report called a “blowout” of 292,000 net new jobs […] [Read More]

It was the same story, different week for vehicle values — sort of.  “Last week, the depreciation rate on car segments accelerated to the highest level in the year, while truck segments, including pickups and SUVs, continue to show strength,” Anil Goyal, senior vice president of automotive valuation and analytics for Black Book, said in […] [Read More]

Fitch Ratings took another look at the impact rising wholesale supply is having. This week, analysts explained U.S. auto lease ABS residual performance is still producing gains overall through mid-summer despite rising used-vehicle supplies. However, Fitch indicated further increases in vehicle supply during the second half of this year and into 2017 could lead to […] [Read More]

The amount of off-lease inventory flowing into Kia’s certified pre-owned program will likely double this year. That’s proving fruitful for a brand that just finished its best two months ever for CPO sales.  And, most likely, the CPO market as a whole.  In July, Kia moved 7,007 certified units for a 20.6-percent year-over-year gain, according […] [Read More]

Amid what the company is calling a period of significant growth in sales and technology, VinSolutions has promoted Chase Abbott to vice president of sales and Ken Wiebke to senior director of technology. In his new role, Abbott will oversee the entire sales team at VinSolutions. He joined the company in 2008 as regional sales […] [Read More]

Reversing an improvement that spanned four consecutive months, S&P Global Ratings determined collateral performance for subprime auto loan asset-backed securities (ABS) deteriorated month-over-month in June with net losses, recoveries and delinquencies all weakening. On a year-over-year basis, analysts found that overall performance weakened for both subprime and prime ABS, according to S&P Global Ratings' report […] [Read More]

In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features. First up in this series is Jimmy Atkinson, chief operating officer at AUL Corp. Auto Remarketing: What is the current consumer appetite for […] [Read More]

TrueCar provided an update on its Dealer Pledge initiative Sunday, detailing the checkmarks it has made on the to-do list so far this year while also sharing a handful of steps planned for the third and fourth quarters. In late March, the company revealed a series of sweeping changes to its product offerings, data policies, […] [Read More]

TradeRev, a mobile app and provider of a vehicle appraisal and auctioning system for dealers, announced on Monday the company has launched its operations in the Northeast region of the United States with employees on the ground in Boston as well as Connecticut, Rhode Island, New Hampshire and Maine. In making the announcement, TradeRev executive vice […] [Read More]