Manheim chief economist Tom Webb is sticking to his prediction that wholesale prices will sink this year, though he did acknowledge the fact that his analysis showed wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) rose 0.5 percent in January. The movement left the Manheim Used Vehicle Value Index reading at 122.3 […] [Read More]

Thirteen import brand certified pre-owned programs hit best-ever years in 2013, according to Autodata Corp., and nine of these brands have started 2014 ahead of last year’s pace. And most of the two dozen Asian and European automakers included in Autodata’s set showed year-over-year increases in CPO sales for January. Despite losing a bit of […] [Read More]

A total of 13 dealerships and six different automakers received honors through Digital Air Strike’s second annual Social Media and Reputation Awards. The Social Media and Reputation Awards are geared to showcase dealers and manufacturers for their 2013 social media performance and recognize the best-in-class marketers on the Web. Data for the awards was compiled […] [Read More]

Last year, full-size pickup trucks held to unusually high auction prices, bucking the declining trends, and experiencing strong price retention throughout 2013. This trend has come to a head with full-size pickup truck values beginning the new year with prices above normal. In Kelley Blue Book’s latest Blue Book Report, senior analyst Alec Gutierrez said, […] [Read More]

Urban Science announced a partnership with third-party sales lead transactions company LeadiD late last week. The company explained this partnership will provide Urban Science with verified lead origins and histories, “allowing for more educated lead-buying decisions and, in turn, an increase in dealership productivity and profitability.” “Urban Science is committed to finding new ways to […] [Read More]

On Wednesday, uShip tapped a veteran of the Internet travel marketplace as well as the e-commerce and retail finance spaces to fill the newly created position of chief financial officer. Taking on the role is Bob Bearden, who joined the company with more than 20 years of experience. Bearden’s past posts have included serving as […] [Read More]

City Enterprises chief executive officer David Andrews announced that the company acquired Chattanooga Auto Auction, joining the operation’s four other sister auctions in Tennessee and Alabama. Chattanooga Auto Auction opened its doors on Monday as the new Dealer’s Auto Auction of Chattanooga. This site now is a part of the fold that includes Dealer’s Auto […] [Read More]

Group 1 announced its Q4 and full-year 2013 financial results on Wednesday, reporting a 19.3-percent increase in revenue and considerable growth in used-vehicle gross profit. The dealership group president and chief executive officer Earl Hesterberg also noted he expects increasing used supply to contribute to a “more favorable” industry-wide pre-owned market going forward — one that […] [Read More]

2014 is off to a good start for certified pre-owned sales in Canada, as many manufacturers reported double-digit CPO growth. Two Euoropean automakers even reached sales records for the month of January. Porsche Canada sold 66 CPO units in January, reaching a record for the month. Highlighting the OEMs that notched double-digit growth, Mercedes-Benz Canada […] [Read More]

Tax season normally coincides with high prices at auction, and this year is no exception. According to the latest Blue Book Market Report from KBB.com, used-car values stated the year 1 percent higher than at the beginning of the calendar year in 2013. That said, some of the lowest-priced models in the lanes might also […] [Read More]