If managed correctly, these high lease penetration rates the industry is seeing might actually be a good thing. In spite of apparent trepidation by some in the business, several analysts at last month’s NADA Convention & Expo were pointing to a healthy leasing market, one that is likely beneficial for consumers, dealers and automakers, alike […] [Read More]

Here’s something dealers may want to use to emphasize value when the price tag is high: In Kelley Blue Book’s announcement  unveiling the 5-Year Cost to Own Awards, KBB’s Dan Ingle points out it’s possible a more expensive vehicle may end up saving the consumer money. Case in point, Lexus and its residual values. The […] [Read More]

Auction volume for 2013 ended up beating prior-year levels by more than 6 percent, according to data reported by the National Auto Auction Association in its Economic Dashboard. And based on the latest report from Manheim, wholesale volume growth — inside or outside the auction — isn’t likely to slow any time soon. In the […] [Read More]

Though Black Book’s Ricky Beggs said bad weather has been a hot button topic at auctions, the “outlook for the market is very positive.” And though winter storms have slowed sales in the lanes a bit as of late, the average segment price changes last week indicate “a more stable market,” he said in the […] [Read More]

ServNet member auctions announced two new general manager appointments recently. Auto Auction of New England announced the promotion of Steven DeLuca to position of GM. In his new position DeLuca will be in responsible for effective planning, delegating, coordinating, staffing, organizing and decision making. The new GM will oversee the day-to-day operations of AANE. The […] [Read More]

Auto Remarketing Canada, Canada’s Used Car Conference, announced today that the Trillium Automobile Dealers Association has come on board as one of the conference’s industry sponsors. In addition, the International Automotive Remarketers Alliance is partnering with the event and will offer sessions for IARA members and conference attendees. Presented by lead sponsor CarProof, AR Canada […] [Read More]

Asbury Automotive Group is confident company dealerships are primed to have a great first quarter and beyond because of a higher level of used-vehicle inventory already in stock and the projected burst of off-lease volume coming into the wholesale pipeline. Asbury executive vice president and chief operating officer Michael Kearney indicated that the group ended […] [Read More]

NextGear Capital on Tuesday announced a new floor planning integration with AuctionACCESS, a development that comes on the heels of a credit line availability integration between the two companies. Officials highlighted these moves will allow auctions to quickly and efficiently originate floor plan transactions for their dealer customers. “NextGear Capital is continually searching for ways […] [Read More]

Asbury Automotive Group sold 18 percent more used vehicles in 2013 on a same-store basis compared to the previous year, but those company dealerships watched their gross profit per unit sag slightly. All told for the year, Asbury reported gains in adjusted income, net income and revenue as it released its latest financial metrics this […] [Read More]

A charity auction at ADESA Phoenix raised more than $60,000 for the Juvenile Diabetes Research Foundation, and saw the auction of two classic vehicles. “We are honored to have this opportunity to contribute to such an amazing organization — JDRF touches the lives of so many impacted by diabetes,” said Mike Russo, general manager of […] [Read More]