Not only did Penske Automotive Group sell nearly 14 percent more used vehicles in the third quarter than it did a year ago, but the retailer also made more money on each of the used cars it sold. Penske moved 43,518 used retail units in the third quarter (including U.S. and international operations), which was […] [Read More]

First launched in January, online used-vehicle retailer Carvana unveiled a new tool today to further enhance what the company said is transparency in the purchasing process. Carvana launched its market price comparison tool called FairCompare, which is designed to allow consumers to evaluate the price of a Carvana vehicle side-by-side with comparable models in their […] [Read More]

Digital Recognition Network indicated that its license-plate recognition solution determined that more than 55 percent of the assets the company finds are more than 100 miles away from where previous documentation said the vehicle should have been. Chief executive officer Chris Metaxas explained how finance companies can use that information not only as a tool […] [Read More]

Keep sales high and costs low — dealers know the drill, and new services announced this week by Car-Research XRM are meant to address that challenge. The new automotive customer relationship management services available to dealerships through Car-Research XRM can be used to drive sales through enhanced Internet marketing efforts and improved research data, the […] [Read More]

All in all, the 2013 third quarter was good for public dealer companies. No surprise, strong new- and used-vehicle sales, coupled with gains in F&I, parts and service, drove a largely positive financial performance for the groups reporting their quarterly results last week. In reviewing the earnings call transcripts from Asbury Automotive Group, AutoNation, Group […] [Read More]

As feedback from auctions was relayed to Black Book's Ricky Beggs last week, one of the most frequently cited trends was how trucks — especially four-wheel drive models — are performing better than the overall market. In what Beggs, editorial director and senior vice president of Black Book, called a “further softening market,” the trend […] [Read More]

Used-vehicle prices this month stayed at relatively the same spot they were during their low point in June, according to Cars.com, which said the used model with the most significant price movement in October — up or down — was the Nissan Quest. The minivan’s prices on Oct. 1 was down 3.6 percent from the […] [Read More]

With used-car sales predictions coming in at above 3 million and new-car sales expected to achieve the best October seen since 2007, it seems trouble in Washington, D.C., earlier this month didn’t affect the industry too much. TrueCar.com revealed its predictions Monday, announcing it expects used-car sales to reach 3.5 million units. The ratio of […] [Read More]

Japanese brands usually make up most of the honorees in Consumer Reports Annual Auto Reliability rankings, but the 2013 edition includes a good representation from domestic and European automakers. In fact, three of the Top 10 spots went to those other OEMs as Audi, Volvo, and GMC captured accolades in the survey released on Monday […] [Read More]

Online service AskPatty.com Inc. has named a veteran of the automotive industry as president of its sales and marketing. The company, which offers automotive advice and helps connects women with its Certified Female Friendly auto retailers, has announced Cherie Watters has been chosen for the role. With a degree in finance, Watters began her automotive […] [Read More]