Copart reported its financial results for its fiscal third quarter ending April 30 on Wednesday, highlighting the impact of how the strengthening U.S. dollar and lower scrap values affected its year-over-year results. The company experienced a year-over-year decrease in revenue and gross margin along with a substantial increase in net income for the quarter. Third quarter […] [Read More]

April was a familiar scene in the certified pre-owned and late-model used-car markets.  Sportier vehicles were in high demand and low supply, with one brand drawing the most interest: Porsche. The certified Porsche models, in particular, are gaining considerable steam with shoppers. According to the April installment of Autotrader’s Scarcity report, two CPO Porsche models were […] [Read More]

Look for the used-car market to finish with at least 3 million sales this month. An analysis of May retail sales from TrueCar said it’s possible the monthly used-car sales total will beat 3.14 million units. This would be a 2.7-percent year-over-year increase. At Edmunds.com, their analysts’ monthly report was calling for about 3.0 million […] [Read More]

An Oklahoma-based law firm announced the filing of a securities class action lawsuit against TrueCar in U.S. District Court. On Friday, Federman & Sherwood announced that the complaint was filed Wednesday in the United States District Court for the Central District of California. In its news release, the law firm said: “The complaint alleges violations […] [Read More]

As one the leading experts in asset backed securities analysis took a stab at deflating the “subprime bubble” talk, the Consumer Financial Protection Bureau official whose jurisdiction is the auto finance market answered pre-submitted questions for nearly an hour on Thursday during the National Auto Finance Association’s 19th annual Non-Prime Auto Financing Conference. The CFPB […] [Read More]

Five trade groups, including the American Bankers Association, American Financial Services Association and the Consumer Data Industry Association, recently sent a letter to the Consumer Financial Protection Bureau offering five reasons why the CFPB should solicit public comment on its recently-issued arbitration study before deciding whether to initiate a rulemaking. Officials insisted through the letter […] [Read More]

Aside from the condition of the car, its mileage is going to be the most important element in a used-car shopper’s purchase, according to an Edmunds.com survey. And that likely has not gone without notice by automakers, who Edmunds believes will “lean on low-mileage to offset the negative effects of ballooning used inventory.” In its Q1 […] [Read More]

Whether we like it or not, those in the automotive industry now live in the age of recalls. It’s a lingering thought in the minds of individuals on every end of the sales spectrum. And while recalls of any nature are anything but simple to manage on the front end, the waters tend to get […] [Read More]

J.D. Power has reached an agreement with the National Automobile Dealers Association to acquire NADA Used Car Guide, the company announced Thursday morning.  The deal will likely close in the third quarter and is subject to Hart-Scott-Rodino Act Review.  J.D. Power will continue to use the NADA Used Car Guide name for a certain period […] [Read More]

In a two-part series, Auto Remarketing Canada covers the impact millennials are having on the automotive marketing landscape. What has changed? What still rings true? Digital marketing experts, dealers and industry analysts discuss how best to reach and engage with a younger audience. Part I covered changes in motives for car purchases as well as […] [Read More]