There was just a shade under 200,000 certified pre-owned sales in July, according to preliminary results released this morning from Autodata Corp., which said this monthly sales figure is more than a 9-percent year-over-year increase. Specifically, there were 199,950 CPO sales for the month, up 9.4 year-over-year but off 10.4 percent from June. This monthly figure […] [Read More]

This year’s Vincentric Best Certified Pre-Owned Value in America awards were unveiled this morning, and leading the pack among OEMs were Ford and Toyota, each of which were represented by their respective brands’ vehicles in seven segment CPO category awards. Named best CPO value passenger car brand once again was Honda, which also won the […] [Read More]

AutoTrader.com has a new president: Jared Rowe, who spent the past two-and-a-half years in the same role at Kelley Blue Book. AutoTrader announced Monday afternoon that Rowe is replacing Alan Smith, who is leaving the company to pursue personal interests. Taking over for Rowe as president of KBB is Steve Lind, who joined KBB in […] [Read More]

A start-up retail vehicle company aiming to serve the sell-by-owner and corporate fleet markets recently closed a $5 million equity capital transaction to push its expansion efforts. CarLotz highlighted this capital was raised from the company’s existing investors as well as funds from a small handful of investors and executives with experience in national multi-site […] [Read More]

The Rainbow PUSH Coalition, the civil rights organization headed by the Reverend Jesse L. Jackson Sr., announced this week the organization’s annual automotive conference will be held in Detroit in October. The 15th Annual Rainbow PUSH Global Automotive Summit will take place on Oct. 13 at the MGM Grand Detroit Hotel, featuring “over 500 automotive executives, […] [Read More]

Subprime finance company Veros Credit has started its expansion strategy, making its first inroads in markets east of the Mississippi River in states such as North Carolina and Florida. Veros Credit now has marketing representatives in Raleigh and Durham, N.C., as well as Orlando, Fla., to go with new personnel in Dallas, Houston, Phoenix and […] [Read More]

As the company completed a property purchase to house more personnel, General Motors Financial said in a regulatory filing on Monday that the company has been subpoenaed by the U.S. Department of Justice. According to the paperwork posted with the Securities and Exchange Commission, Justice Department officials served GM Financial with a subpoena on July […] [Read More]

A new kind of subprime borrower is starting to influence the statistics gathered by Equifax. Jennifer Reid, the senior director of product marketing at Equifax Automotive Services, acknowledged that dealers and finance companies typically think of subprime consumers as ones with delinquencies, defaults and bankruptcies. But Reid pointed to the slight uptick in subprime vehicle […] [Read More]

Expanding used supply means lower pre-owned prices — but analysts say trends on the new-car side of the market will serve to push used rates down every further. Analysts at ALG and RVI both cited new-car sales as a factor that will lower used prices in the coming years. According to ALG, this trend has […] [Read More]

Hyundai Auto Canada Corp. has announced a new Signature Certification Program for dealerships in an effort to ramp up the traditional sales and service processes in Hyundai stores across the nation. The company shared the new program is aimed at differentiating certified dealers from the competition. First introduced by Hyundai Auto Canada's president and chief […] [Read More]