KAR Auction Services announced Thursday evening that Insurance Auto Auctions chief executive officer Tom O’Brien is stepping down from his IAA post on April 30. Taking his place will be John Kett, who is currently IAA’s president and chief financial officer. Kett becomes president and CEO on May 1. O’Brien will remain a KAR board […] [Read More]

Many high-end vehicle dealers in Canada are breathing a sigh of relief as Canadian and U.S. law enforcement agencies cracked down on an international vehicle theft crime ring, recovering $3.2 million in assets. Car recovery company LoJack Corp. reported its part in the recent bust, providing insight into the international crime ring investigation titled “Project […] [Read More]

DriveItNow — a monthly payment marketing technology service of Automobile Consumer Services Inc. — announced a partnership that will allow it to include real monthly payments in their vehicle inventory videos. Through an agreement with Flick Fusion Technologies, consumers can see realistic monthly payments on vehicles they are interested in when watching the video featuring […] [Read More]

The emphasis on advertising in December focused around performance and innovation, according to Phoenix Automotive’s latest “Auto Insights” report. And it seems to be attracting consumers, as the percentage of shoppers in the market for a new car and planning to purchase a in the next three months grew in December. That number increased slightly […] [Read More]

More than a couple handfuls of import brands posted all-time bests for certified pre-owned sales last year, according to Autodata Corp., which said that the collective full-year sales totals for both Asian- and European-brand sales were up by double-digit percentages. Joining Ford/Mercury/Lincoln as best-ever full-year CPO achievers were Audi, Honda, Hyundai, Kia, Lexus, Mazda, Mercedes-Benz, […] [Read More]

Many dealers are suffering from the “big squeeze” in used vehicles. The effects of the “big squeeze” are easy to identify. Dealers are paying higher costs to acquire and recondition used vehicles, and seeing a greater degree of pressure on retail prices and front-end gross profits. We can thank increased competition among dealers to find […] [Read More]

Manheim chief economist Tom Webb dissected the short- and long-term impact of rising off-lease volume when he conducted his first quarterly conference call on Wednesday morning. Webb highlighted the positive prospects including the swell of potential certified pre-owned vehicles for franchised stores as well as how the entire industry is in much better position to […] [Read More]

Though the overwhelming majority of brands across the spectrum showed certified pre-owned growth, 2013 was an especially promising year in the CPO business for domestic automakers. The Big 3 grabbed an additional 2.3 points of CPO market share in 2013 and lifted their full-year certified sales by nearly 24 percent, according to preliminary industry results […] [Read More]

AutoNation’s chief financial officer Mike Short is leaving the company. The move was effective Tuesday, and the company has appointed Cheryl Scully, vice president and treasurer, as interim CFO, as the company searches for a new exec to fill the position. Mike Short said, "I've enjoyed my seven years at AutoNation, and I am proud […] [Read More]

After years of post-recession lows, the Canadian automotive market reached a new record in 2013, according to analysis from the Canadian Automotive Dealers Association released this week. A whopping 1.74 million new cars were sold in Canada last year, up 4 percent from 2012 sales. This also marks only the second time ever the retail […] [Read More]