Two former Manheim executives who headed up the company’s Total Resource Auctions division recently announced the formation of Novum Auto Services. Michael Lasini and William Coleman highlighted Novum’s patent pending technology CrashCalculator can provide cash market value (CMV) pricing to owners of damaged, disabled or otherwise compromised vehicles. Lasini and Coleman stressed that Novum backs […] [Read More]

A recent analysis released by Experian Automotive this week shines some light on the relationship between a consumer’s length of ownership of a vehicle and their likelihood of repurchasing their next vehicle from the same brand, otherwise known as brand loyalty. The relationship may surprise you. According to Experian’s data, the longer consumers hold onto […] [Read More]

AutoNation began the fourth quarter with an 8-percent increase in new-vehicle sales as company dealerships turned 24,844 new models in October. New-vehicle sales for AutoNation's operating segments were as follows: • 7,497 for domestic, up 7 percent versus last October • 11,917 for import, up 11 percent versus last October • 5,430 for premium luxury, […] [Read More]

The certified pre-owned business is on track for another record year, and October proved to be a rather hot month for many brands. Here’s a rundown of how a few performed: Starting with Hyundai, the automaker reported its best October ever for CPO sales, moving 8,421 CPO units for a 31.5-percent hike. Through 10 months […] [Read More]

The National Independent Automobile Dealers Association announced earlier this week that Shaun Petersen, the regulatory counsel for the NIADA, spoke to a New York City Council committee on Oct. 28 regarding the city’s proposed law that would make it illegal to sell a used vehicle with an open recall. The law would further require used-car […] [Read More]

The increase in lease returns isn’t just helping franchised dealers shore up their used-car supply. Apparently, it may also be leading to a lift in transaction prices for these dealers, according to the latest analysis on October used-vehicle sales from CNW Research. “Transaction prices rose more than 16 percent at franchised dealership to $15,678 thanks […] [Read More]

On Tuesday, Ford announced it is issuing five safety recalls in North America, but Blue Oval officials said that only one accident without injuries was attributed to any of the conditions. The single campaign covering the most vehicles is for 134,947 units — the Ford Flex and F-150 — because of a passenger seat occupant classification […] [Read More]

The National Auto Auction Association is asking members to weigh in on potential NAAA Arbitration Policy changes via an online survey. The Auction Standards Committee is requesting all members review and comment on proposed changes. The NAAA has posted the survey on the naaa.com website and will also be sending the survey link by email to […] [Read More]

As certified pre-owned results start coming in for October, it is apparent that European automakers are bucking the seasonal sales softening trends often seen during this time of year. Audi Canada, for example, achieved its best October ever for CPO. The automaker sold 538 CPO vehicles last month, which represents a whopping 30-percent increase year-over-year. In […] [Read More]

The North American Repossessors Summit (NARS), an industry event hosted by the American Recovery Association (ARA), unveiled its recently redesigned website. The site, which is now live, features new registration and exhibitor forms and other improvements to streamline user convenience during the summit’s registration process, as well as enhances the user’s overall experience with learning […] [Read More]