Wholesale prices remained strong in April — taking a bit longer to turn down from tax-season highs than in previous years — but price relief for dealers and buyers in the lanes is in sight. According to NADA’s latest Guidelines report, seasonality and a spike in used supply will serve to push wholesale prices down […] [Read More]

The Environmental Protection Agency recently announced that diesel vehicles are making a bit of a comeback in the U.S., as fuel efficiency becomes more of a concern. Auto Remarketing reported on NADA Used Car Guide’s analysis of the diesel market here last week. NADA determined through comparing two different 3-year-old vehicles and their respective diesel […] [Read More]

Following public comment periods, the Federal Trade Commission approved final consent orders this week involving 10 dealers’ deceptive advertising charges. Under the settlement orders, FTC officials said the dealerships are prohibited from misrepresenting in any advertisement for the purchase, financing or leasing of vehicles the cost of leasing a vehicle, the cost of purchasing a […] [Read More]

Demands by the Securities and Exchange Commission are placing a hurdle in Nicholas Financial — an indirect special finance company that originates subprime loans with more than 1,600 dealers — becoming an indirect wholly owned subsidiary of Prospect Capital Corp. According to Prospect Capital’s latest quarterly filing with the SEC, agency officials asserted that certain […] [Read More]

Rep. Lynn Westmoreland introduced a bill on the U.S. House floor this week aimed at regulating how the Consumer Financial Protection Bureau handles consumer data. The Georgia Republican explained the CFPB Data Collection Security Act is meant to address what he believes are important security flaws. The measure would institute five new elements, including: —Create […] [Read More]

Remember 2005? That’s when the BlackBerry was the smartphone of choice, and the Federal Reserve pushed the short-term interest rate to 3 percent, marking the eighth increase in less than a year. That year also was the last time this much paper and metal was on the street. The latest Equifax National Consumer Credit Trends […] [Read More]

Online auto retailer Carvana announced Friday that what it’s calling the first Carvana certified pre-owned Tesla is now available on its website. The vehicle is a 2013 Tesla Model S and can be found at www.carvana.com. (Carvana also clarified that the CPO offering is via Carvana.com, versus coming directly from Tesla) Carvana says the Model […] [Read More]

Wrapping up a strong tax-season selling season, used-vehicle prices were still on the way up in April. According to Black Book data, wholesale prices rose by an average of 0.9 percent compared to March rates. Specifically, domestic cars saw prices rise by 2.7 percent, followed by import cars with a price spike of 0.2 percent. […] [Read More]

Though rental and fleet sales for automakers can be looked at in a variety of ways — as many automakers try to pass of some of their harder-to-move products in this fashion — these types of sales normally bode well for the used-car market in the near-term. With used-car supply so low, rumors of high […] [Read More]

Nissan Canada Extended Services Inc. announced a new partnership this week with Safe-Guard Canada that will give dealers another warranty and protection program to offer new customers. Protection plans administered by Safe-Guard Canada will be available to Nissan and Infiniti buyers and lessees in 219 dealer showrooms across Canada beginning in the third quarter of […] [Read More]