It was a “down” week, according to the latest Black Book Market Insights report. Every segment — with the exception of small pickups — saw broad declines in the seven-day period ending Friday. Volume weighted, overall car values decreased by 0.43 percent last week, similar to the average depreciation rate of 0.40 percent seen in the previous […] [Read More]

Carvana has added a physical location in its 14th market: Richmond, Va. This is the online car retailer’s first location in Virginia, expanding its footprint that already included a wide swath of the South farther up the East Coast.   Carvana now provides “as-soon-as next-day delivery” to the following markets: — Atlanta — Austin, Texas […] [Read More]

eBay will be launching a pilot program with online retailer Vroom in the third quarter that will allow Vroom to make formal cash offers on cars listed by select private sellers on eBay Motors. Tony Hoang, head of vehicles for eBay Motors North America, said in a news release: “eBay continues to enhance its vehicles […] [Read More]

Southern California’s Galpin Motors announced that it will take its annual Galpin 10,000 summer sales event to the next level with a massive community initiative that involves raising funds for Children’s Hospital Los Angeles (CHLA), collecting school supplies for local schools and having its employees complete community service hours. “The Galpin 10,000 has been a fun […] [Read More]

The next issue of Auto Remarketing Canada will spotlight the Leading Dealer Groups of Canada. In this special edition, we will showcase some of the country’s oldest, biggest and most influential dealer groups, as well as the up-and-comers making waves in the Canadian used-car market. Similar to last year, we hope to highlight the stories […] [Read More]

Toyota Motor Sales USA announced late on Tuesday that it is conducting a safety recall of approximately 482,000 vehicles to correct an issue with the curtain shield air bags. The action by Toyota is unrelated to the ongoing Takata airbag recall. Included in the campaign is the Toyota Prius from the 2010 through 2012 model […] [Read More]

The Alberta Motor Vehicle Council is tightening its consumer protection education requirements to improve compliance with the laws. As such, any automotive salesperson who has been out of the industry for more than three years must now successfully retake the salesperson Fair Trading Act course before being granted a new registration to sell vehicles. "It […] [Read More]

For the third time in the span of about a year, New York attorney general Eric Schneiderman announced a settlement with a dealership regarding either the advertising or the financing practices conducted by the store. The most recent development is a settlement with Saratoga Springs Nissan, which operated a dealership in Malta, N.Y., under the […] [Read More]

Ally Financial has added a former General Electric executive to its own board of directors. The company announced this week that William “Bill” Cary has been appointed to the Ally board of directors, filling the role left by Cerberus Capital Management’s Stephen Feinberg, who stepped down from the board effective June 22. Cary worked at […] [Read More]

On the same day but some 2,800 miles east of the 68th CarMax Auction’s grand opening in the San Francisco Bay Area, dozens of dealers gather under and around a garage-like structure on Tuesday morning. Much like the soggy weather here in the capital of North Carolina, the exterior of this building is gray. But […] [Read More]