For the first time this year, the average monthly wholesale used-vehicle price fell below $10,000, as July continued a string of heavy sequential price drops that has now reached three consecutive months. That’s according to the July edition of Kontos Kommentary, where ADESA chief economist Tom Kontos attributed the continued price drops to increasing supply. “Supply growth continues to […] [Read More]

LotLinx has a new chief executive officer. Named to the role on Tuesday was Denise Chudy, an original founder of the company who has been with LotLinx since its inception. This news comes a day after it was announced that former CEO Dean Evans has taken on the role of chief marketing officer with Hyundai […] [Read More]

Trends shifted a bit in the lanes this past week, with a reversal of the pattern of depreciation the industry has come to expect this year. Last week, according to the latest Black Book Insights report, the car segments averaged lighter-than-normal depreciation, while trucks saw prices drop at a more rapid rate. As far as […] [Read More]

Numerous reports highlighting the alarming depreciation rate of electric vehicles have been surfacing, and this trend could be a challenging one for the industry. In fact, many of the 2012 model EVs now cost less than their gas counterparts — surprising, after new premiums were so steep just a few years ago. And Larry Dixon, […] [Read More]

Dealers with import brands had nice gains in certified pre-owned sales during July, as yearly sales continue down a blistering path. First, Asian brands sold 104,555 certified vehicles in July (up 9.5 percent), according to Autodata Corp. Meanwhile, their year-to-date figures are at 684,778 units through seven months, which beats the year-ago pace by 8.1 percent. […] [Read More]

Domestic automakers increased their certified pre-owned sales by more than 14 percent in July, and one of the Big 3 had its strongest CPO month of all time. According to Autodata Corp., Fiat Chrysler Automobiles had its best month ever for certified sales. Including the Fiat brand, FCA US had 16,710 CPO sales in July, […] [Read More]

Buy-here, pay-here dealership group J.D. Byrider announced this week it has opened its second franchise in Virginia’s capital of Richmond. This marks the sixth J.D. Byrider store in Virginia, and it is the second Virginia dealership for franchisee Craig Baker, who opened the first J.D. Byrider store in the city back in 2012. The new […] [Read More]

Following the record damage caused by the spring flooding in Texas, members of the National Independent Automobile Dealers Association, along with the NIADA Foundation, decided to help. Keith Hagler, a former NIADA president, presented a $15,600 check to the Austin Disaster Relief Network at the First Baptist Church of Taylor on July 30 to aid […] [Read More]

KAR Auction Services announced Monday an internal promotion to fill the role of AuctionTrac’s chief innovation officer. Taking on the position is Michael Newman, who will be responsible for leading the AuctionTrac’s development and implementation of new technology initiatives and the enhancement of its current offerings, including mobile apps, and cultivating the company’s culture of […] [Read More]

ADESA highlighted the newest features of its website on Monday, pointing toward making buying and selling more convenient for its customers as the primary reasons behind its updates. As listed by the company, the changes include: Enhanced AutoBid feature. LiveBlock bidders can now add, edit, view and remove automated bids directly from ADESA.com through the […] [Read More]