Used-car prices began falling slightly in the lanes as summer drew to a close. According to the latest RVI Market Update released this week, the RVI Used Vehicle Price Index, which measures the wholesale values of used vehicles ages 2 to 5 years old, fell by 0.2 percent from July. That said, prices have been abnormally high […] [Read More]

It seems the impending fall market may have already begun affecting prices in the lanes as summer was wrapping up. According to the latest RVI Market Updata report, the RVI Used Vehicle Price Index fell by 1.6 percent in August when compared to July. Year-over-year, the index fell by 2.6 percent last month. And the […] [Read More]

With the arrival of fall, auction prices are on the way down. However, declines haven’t been as extreme as expected — at least not so far. Black Book editorial director Ricky Beggs said he was surprised at the slight nature of last week’s price adjustments in the lanes. Though car prices fell by an average of $84 […] [Read More]

Members of 113th Congress raced out of Washington, D.C., in mid-September by planes, trains and automobiles, leaving nothing in their wake but a proverbial cloud of dust. The members were all headed home, back to their districts for a final flurry of campaigning ahead of the midterm elections, just five short weeks away. They won’t […] [Read More]

One of Used Car Week’s presenters and the sponsor of the SubPrime Auto Finance Executive of the Year award — Black Book Lender Solutions — finalized the integration of its vehicle valuation data into three more providers of loan origination systems used by finance companies. Recent integrations announced on Monday include Credex, Compass Technologies and […] [Read More]

U.S. Sen. Mike Crapo, the ranking member of the upper chamber’s Banking Committee, recently received his requested analysis of the Consumer Financial Protection Bureau by the Government Accountability Office, confirming his apprehensions about what the bureau is doing. Crapo highlighted the GAO’s comprehensive study confirmed the CFPB is collecting financial data on up to 600 […] [Read More]

The latest respective philanthropic efforts by Manheim and Dealer’s Auto Auctions are designed to help some worthy constituencies — military veterans and impoverished youth. Basketball fans might remember this name from the 1990s: Anfernee “Penny” Hardaway. Dealer’s Auto Auctions kicked off a two-day fundraising campaign with a silent, and not-so-silent auction of some of Hardaway’s NBA […] [Read More]

Ford announced on Friday that the automaker is recalling 850,050 vehicles in the U.S., Canada and Mexico because of potential issues with the restraints control module that could prevent the airbags from functioning correctly. Blue Oval officials indicated this campaign covers Ford C-MAX, Fusion, Escape and Lincoln MKZ vehicles in North America from the 2013 […] [Read More]

Dealer and consumer satisfaction with the Costco Auto Program certified pre-owned offering is on the rise, according to CNW Research. The firm said in its latest Retail Automotive Summary that the majority of Costco CPO users — dealers and consumers —  found it to be either a “good” (31.3 percent) or “excellent” (21.8 percent) experience. Those […] [Read More]

Auction Edge announced that it has added several new auctions to its national network and says it has also increased participation across all of its product lines. The company has also expanded its suite of product offerings. In addition to Edge ASI, Auction Pipeline and Edge Simulcast, the company now offers Edge Multi-List, Edge Lookout and […] [Read More]