With the launch of three new facilities early this year, CarMax now has 60 dealer-only auctions throughout the U.S.  CarMax Auctions opened locations in Baton Rouge, La.; Newark, Del.; and St. Louis. Since 1996, CarMax has sold close to 3 million wholesale units, the company said. Dealers can visit the CarMax Auctions website for a […] [Read More]

After years of unusually high used-car prices due to tight used supply, prices finally began falling in 2013. And the rate of decline is predicted to speed up this year, perhaps turning many consumers’ eyes toward used deals. According to Edmunds.com’s latest Used Market Quarterly report, expanding supply will serve to push pre-owned prices down […] [Read More]

Throughout 2013, trucks held consistently stronger retention rates in the lanes than the car segments. The tides may be changing, as Black Book’s Ricky Beggs reported cars maintained their value better than trucks for the first time in seven weeks. In his latest “Beggs on the Used Car Market” video report, Black Book’s editorial director […] [Read More]

The Automotive Trade Association Executives, which represents 115 state and metro new-car and -truck dealer groups in the U.S. and Canada, has chosen a new chairman for 2014. Elected to the position is James Appleton, who is also president of the New Jersey Coalition of Automotive Retailers. “There has never been a moment in time […] [Read More]

When it comes to the certified pre-owned market, one of the key themes Black Book’s Ricky Beggs sees is opportunity.  Opportunity in the remarketing channels to take advantage of greater off-lease volumes, for OEMs to maintain brand strength and for dealers to quickly turn their inventory. (Not to mention, dealers will have a lot more […] [Read More]

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]