The percent of people coming in with trade-ins is down from its peak level, says Edmunds.com senior analyst Jessica Caldwell, but this might actually be a good sign. In a conference call to discuss May auto sales, Caldwell said this trend likely points to “people adding to their fleets rather than just replacing.” The average […] [Read More]

In a used-vehicle market that was static overall, franchised dealers increased their used sales more than 4 percent from a year ago, moving 1.42 million pre-owned units off their lots in May. That’s according to the latest sales recap released today by CNW Research, which pegged May’s overall used sales total at 4.39 million units. […] [Read More]

These days, certified pre-owned vehicles can command a wide spectrum of premiums, depending on the specific model-year, brand and other factors. That’s according to NADA CPO value data included in the latest NADA Perspective report, which highlighted the mainstream and luxury brands generating the strongest values on their CPO models. NADA gathered data from automakers […] [Read More]

Incentives were on the way up last month, as average transaction prices were reported to have fallen slightly from April. According to TrueCar.com data, the average incentive spending for light vehicles in May was $2,677, up $17 (0.7 percent) from May 2013 and up $91 (3.5 percent) from April. TrueCar estimated the ratio of incentive […] [Read More]

For the second quarter in a row, quarterly repossession for finance companies — lenders that often cater to subprime buyers — jumped by around 70 percent year-over-year. The latest State of the Automotive Finance Market report from Experian Automotive indicated that first-quarter repossessions for finance companies climbed 69.1 percent year-over-year to 3.01 percent of their […] [Read More]

Asbury Automotive Group this week announced the election of Thomas Reddin to its board of directors. Reddin's election brings the total number of directors to nine, seven of whom are independent. "Tom's understanding and familiarity with digital services and retail-based technologies make him a valuable addition to our board," said Thomas DeLoach, chair of the […] [Read More]

The National Highway Traffic Safety Administration is investigating whether the recall Chrysler launched to correct airbag problems in 744,822 SUVs in fact corrected the defect in the vehicles. Back on Nov 7, 2012, Chrysler issued a safety recall to address the possibility of an inadvertent air bag deployment (IABD) in Jeep Liberty vehicles from the […] [Read More]

Dent Wizard International has announced a new addition to its regional team. Named as regional business development manager, covering the states of Georgia and Alabama, is Candi Hay. Hay will focus on acquisition, facilitation and process improvements of dealer accounts for SMART repair services, the company said, which include paintless dent removal, wheel refinishing, bumper […] [Read More]

ADESA Canada has chosen a new chief operating officer. Trevor Henderson will fill the COO position, effective June 16. Henderson, who has worked with ADESA since 2002, will report directly to ADESA president and chief executive officer Stéphane St-Hilaire. “Our success in this marketplace is a direct result of our experienced leadership team on the […] [Read More]

Alliance Auto Auction announced recently that it has brought on former National Auto Auction Association president Jimmy Compton as the auction’s regional sales and operations manager. In this post, Compton will head up Alliance’s business development efforts to help increase corporate and fleet accounts. His most recent position was as director of national accounts at […] [Read More]