More — and more relevant — used-car information to simplify the buying process: That’s the aim of new technology from PureCars. On Wednesday, the company announced the launch of its all-new Value Intelligence Platform, or VIP. Using PureCars' proprietary algorithm, which pulls from more than 1 billion data points of reference, the platform organizes and […] [Read More]

Internet Brands, an online media and software services organization that includes such automotive players as CarsDirect, Chrome Data and Autodata Solutions, announced earlier this week that it will be purchased by global investment firm KKR. The two companies signed a definitive agreement in which KKR will purchase Internet Brands from Hellman & Friedman and JMI […] [Read More]

Without giving specific figures, Copart chief executive officer Jay Adair described salvage vehicle prices as “what we would expect,” when the company discussed the financial performance of the third quarter of its fiscal year. Reflecting on the span that wrapped up on April 30, Adair indicated that pricing for salvage units “tends to peak in […] [Read More]

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]