Cox Automotive chief economist Tom Webb didn’t divulge any confidential Manheim Consulting team data about a consignor’s specific portfolio, but he still managed to illustrate how the firm’s information answered questions about perceived regional differences in wholesale pricing. To close the July edition of Manheim’s Auto Industry Brief, Webb recapped a presentation segment he made […] [Read More]

Penske Automotive Group announced a record second-quarter and six months, which was driven in part by growing used retail sales and success in the service and parts business. According to the conference call to discuss Q2 and six-month results, chairman Roger Penske reported the company retailed 49,500 used units in the quarter, representing an increase […] [Read More]

Light vehicles in operation, as of January 1, reached a record level of 257.9 million. And the average age of those vehicles experienced a slight uptick to 11.5 years old. On top of that, volumes of cars up to five years old are expected to jump by as much as 24 percent over the next five […] [Read More]

Two high-powered industry names — TRADER and Canadian Black Book — have decided to part ways in light of a failure to agree on contract renewal details related to online vehicles listings. When the time came to negotiate a new contract renewal, the deal was halted as the new agreement would require CBB to be […] [Read More]

While continuing to keep close tabs on how 60-day delinquencies are trending, Equifax is also watching write-offs, too, since they made a small move upward as of June. According to data shared with SubPrime Auto Finance News this week, Equifax reported that write-offs increased slightly year-over-year, ticking up 4.0 percent in June to 19.0 basis […] [Read More]

The Federal Reserve of New York reported an uptick in consumers who expect to apply for vehicle financing during the next 12 months, but two economists, including Cox Automotive’s Tom Webb, discussed the potential headwinds that might arrive within the employment market as well as consumer confidence. First, the New York Fed indicated its Survey […] [Read More]

On Thursday, CrediautoUSA Financial Co. announced the completion of a capital facility that provides for up to $75 million to facilitate the acquisition by Crediauto of non-prime automobile financing contracts. Crediauto is a finance company that provides solutions to franchised and independent dealers in California. Officials highlighted the facility commitment is supported by capital managed […] [Read More]

If you’re looking to market your high-tech vehicles, the customers most interested consume three key forms of media at considerably strong rates. According to a recent J.D. Power report, those media — Internet, television and magazines — are consumed at very high rates by consumers shopping with in-vehicle technology in mind. The J.D. Power 2015 […] [Read More]

Look for used-vehicle sales this month to be north of 3.2 million units, say industry analysts. TrueCar and Edmunds.com each released separate analyses this week forecasting July used-car sales in that ballpark. Edmunds is predicting 3.22 million used sales this month, which would result in a seasonally adjusted annualized rate of 36.9 million. Meanwhile, TrueCar […] [Read More]

Just a few months out, the excitement around Used Car Week continues to build, with eight new sponsorships coming aboard in the past week. Sorted by conference, the latest to sign on are: CPO Forum Experian National Remarketing Conference GM Financial      Used Car Week Auto IMS             Automovy Logistics         CallMiner             Experian Intellaegis […] [Read More]