As used-car supply continues to increase, consequently, used-car prices are slumping. The seasonal summer slowdown continues to push prices down, and RVI Group reported late last week it expects used prices to drop by 10 percent by 2019. When describing last week’s auction price movement, Black Book’s Ricky Beggs said the only difference from previous weeks […] [Read More]

The potential risk to used-car values from increases in off-lease volume and lease penetration rates is something that Alec Gutierrez is keeping a close watch on. The KBB senior analyst doesn’t see much of a dust-up yet, but there could be potential for gradual “downward pressure” on used values a couple years down the road. However, […] [Read More]

ADP Dealer Services recently launched what the technology solutions provider is calling its new Service Connect Community. The company said that this online forum is designed for dealer clients to share knowledge and information about software and services. Community members can post questions, get answers and provide insight to their peers directly from their ADP […] [Read More]

As the digital age continues to develop, dealers have had to adapt at an ever-quickening pace to satisfy a perpetually evolving consumer base. For used-car customers, Penske Automotive Group announced during their second quarter conference call on Wednesday that one of their main conduits for sales is via their website. Roger Penske, the group’s chairman […] [Read More]

As members of Generation Y age, join the work force, have families — and, of course, purchase vehicles — many are turning to the used-car lot. In fact, these younger buyers are purchasing used cars much more often than older generations, such as Generation X and the Baby Boomers. That’s according to data from J.D. Power’s […] [Read More]

Though the temperature may be rising as we head into the last month of summer, auction prices seem to be dropping on a weekly basis. According to NADA’s AuctionNet data, prices are expected to drop by 0.3 percent, or $50, this week. The losses will be led by the luxury car segment, NADA automotive analyst […] [Read More]

This week, Volkswagen Group of America tapped Christian Dahlheim to be the new president and chief executive officer of VW Credit. Dahlheim takes the place of Andrew Stuart, who left the captive finance company earlier this summer to be the head of U.S. operations at TD Auto Finance. The automaker highlighted Dahlheim now will oversee […] [Read More]

The Republican-led U.S. House Financial Services Committee has conducted multiple hearings to investigate alleged discrimination at the Consumer Financial Protection Bureau, including a session with director Richard Cordray earlier this week. Now the lawmakers on the committee want the Government Accountability Office to investigate the CFPB’s organizational culture and management practices in light of allegations […] [Read More]

Several top industry players came to the defense of how subprime vehicle financing is operating nowadays after the unflattering picture they said The New York Times painted in an article a couple of weeks ago that’s since made its way around board rooms, quarterly conference calls and beyond. American Financial Services Association president and chief […] [Read More]

Used-car sales in July fell nearly 2 percent industry-wide and dipped more than 5 percent for franchised dealers, according to CNW Research. But dealers, particularly the franchised stores, should take heart. Trade-ins on new-vehicle sales will likely “spike” in August, CNW says, meaning franchised dealers should see a “solid” month on the pre-owned side. That would be on […] [Read More]