There’s a new 24-7 subscription-based wholesale network and national online auto marketplace that aims to bring wholesale, retail and auction channels together. On Tuesday, MyWurld Inc. launched AutoWurld, which is designed to “centralize the auto retail, wholesale and auction sales channels into one online destination,” says AutoWurld founder and chief executive officer Troy Mack.  “Our […] [Read More]

Low gas prices and lots of winter weather compounded to bring strength to SUV prices at auction last month. According to the latest data from Black Book, the average price of a used vehicle for model years 2009-2013 dropped by an average of 1.2 percent in February, which showed no change from January depreciation. SUVs […] [Read More]

The latest action by Federal Trade Commission regarding online reviews didn’t fall within the spectrum of how a dealership performed; rather in connection with a segment of the wholesale space. The regulator said AmeriFreight, a vehicle shipment broker based in Peachtree City, Ga., has agreed to a settlement with the FTC that will halt the […] [Read More]

Certified pre-owned vehicles represented a larger slice of the sales pie,  and this helped bump up full-year transaction prices on used cars for the publicly traded dealer groups in 2014.  That’s according to the latest blog post on dealer group activity by Cox Automotive chief economist Tom Webb, who also explained how these higher prices combined […] [Read More]

As certified pre-owned sales results started to trickle in Tuesday, automakers (at least those reporting, so far) are seeing sales spike significantly from the first two months of 2014 — a trend that bodes well for continued certified market growth. Volvo impressed last month with a 58-percent boost in CPO sales in February. Its dealers sold 1,343 […] [Read More]

As the organization prepares to host the North American Repossessors Summit, the American Recovery Association recently formed what it dubbed the Young Professional Repossessors Commission (YPRC), a committee dedicated to educating, empowering and creating a platform for young industry professionals to speak and lead on behalf of ARA and the recovery industry. To become a member, […] [Read More]

What reportedly was in the works about a week ago came to fruition today as Citigroup announced that it has reached a definitive agreement to sell OneMain Financial Holdings to Springleaf Holdings for a purchase price of $4.25 billion in an all-cash transaction. The boards of directors of both Springleaf and Citigroup approved the deal […] [Read More]

In response to developments surrounding the industry’s multiplatform system initiative, Whann Technology Group provided a letter to Auto Remarketing and others in the industry to outline its position on the matter. This is just the latest in a series of announcements on MPS that started on Feb. 23, when ADESA announced that it decided not to participate […] [Read More]

Auto Remarketing has learned through published reports that CNW Research president Art Spinella has passed away at age 68. The Bandon Western World indicated that Spinella died Feb. 20 of congestive heart failure. Spinella was a longtime source of auto industry data, analytics and commentary, including his company’s Retail Automotive Summary, which was often quoted […] [Read More]

The National Highway Traffic Safety Administration said Hyundai Motor America is recalling more than 200,000 compact sedans to correct a steering issue. NHTSA indicated the recall includes Elantra vehicles from the 2008 through 2010 and manufactured from June 1, 2008 to April 30, 2010. The campaign also covers Elantra Touring vehicles from the 2009 and […] [Read More]