A number of variables contributed to price softening in the lanes last week, one of which was a curveball thrown from Mother Nature, herself. Black Book’s Ricky Beggs pointed out in his latest “Beggs on the Used Car Market” report that vehicle damage from a group of storms — which produced tornadoes and hail that […] [Read More]

Concern that advertisements for new cars under $10,000 may be misleading for consumers prompted The Ontario Motor Vehicle Industry Council — which enforces the province’s Motor Vehicle Dealer Act and Regulations  —  to issue an open letter to Ontario’s dealers last week. The crux of the issue: dealers should be careful about reusing OEM advertisements […] [Read More]

When CarMax announced a successful first quarter of its 2015 fiscal year — notching a 9.8-percent increase in used sales — company management attributed much of this spike to an increase in both foot and Web traffic. In fact, Web visits grew to over 14 million, representing a 25-percent increase compared to the same period […] [Read More]

Ally Financial recently honored Jeff Teague of Teague Auto Group as the winner of the 2014 TIME Dealer of the Year award and presented a charitable grant to support his efforts in the local community. Ally executives were on hand for the celebration at the dealership in El Dorado, Ark., to present a grant of […] [Read More]

CU Xpress Lease, part of the GrooveCar family of brands, recently formed a partnership with Peoples Credit Union, which will be offering vehicle leasing in Broward and Palm Beach counties in south Florida. Peoples chief executive officer Jeffrey Miller explained how the institution created this alignment with CU Xpress Lease. “The leasing market in general […] [Read More]

During the first quarter of its 2015 fiscal year, CarMax Auto Finance originated $20.5 million of loans — representing 0.8 percent of retail unit sales for the timeframe — through its program for customers who typically would be financed by the company’s third-party subprime providers. As of May 31, the company tabulated that a total […] [Read More]

Dealers Auto Auction of Oklahoma City (DAA/OKC) is celebrating the arrival of the peak summer market with its Mid-Year Party Sale, set for Thursday. Planning for a consignment topping 2,000 vehicles and more than $20,000 in giveaways, DAA/OKC management promised a full day of fun, food and prizes to accompany blazing hot action in the […] [Read More]

Brasher’s Portland Auto Auction and Brasher’s Northwest Auto Auction are giving customers the option of attending United Vehicle Auctions (UVA) Booksheet Sales in an all-new technology-driven space in Beaverton, Ore. Brasher’s Portland Auto Auction general manager Jerry Hinton explained that the new facility hosts a weekly UVA Booksheet sale on Tuesdays at noon. That’s when […] [Read More]

When CarMax announced results from a successful first quarter of its 2015 fiscal year — notching record quarterly sales and earnings — company management focused on one used metric, in particular: wholesale unit sales. While total used retail sales rose by 9.8 percent in Q1, wholesale unit sales were up slightly higher, experiencing a 9.9-percent spike. […] [Read More]

In the early days, as dealers, we were taught that all vehicles in inventory should be stocked, bucketed, spiffed and priced, and when it hits the ripe old age of 60 or 90 days old, the vehicle should be sent to auction or sold cheap only to have the same process repeated over and over […] [Read More]