The wintry weather that has wielded its wrath throughout the U.S. in early 2014 appears to have varying impacts among publicly traded dealer groups. In a conference call with Wall Street analysts this week, Sonic Automotive executives said that the weather will likely have a modest downward impact on earnings, but it’s nothing “catastrophic” and […] [Read More]

There were 2.11 million certified pre-owned sales in 2013, according to Autodata Corp., representing the best year ever for the CPO market, the third straight year of record-breaking sales and the first time the industry has ever reached the 2 million unit threshold. And this historic sum will likely be “blown away” by what happens […] [Read More]

Dealers now have another exclusive, direct avenue for acquiring used inventory, thanks to a new used-car sales program announced by Avis Budget Group. The company introduced Avis Direct, which provides a dedicated website and gives dealers a means to purchase from a wide array of late-model, off-rental units from the Avis, Budget, Payless and Zipcar […] [Read More]

After learning of the new live online auction recently launched by Infiniti Financial Services, Auto Remarketing caught up with IFS director of remarketing Kevin Cullum to talk about the impetus behind the program and how it benefits the manufacturer and its dealers, as well as the role of upstream and online remarketing. As reported by Auto […] [Read More]

Manheim has built a new enterprise software business called Global Remarketing Management System that serves as a digital suite of remarketing management tools, the company announced Friday. It will be led by Nick Peluso, who will head up the new venture and become president of Global RMS on April 1. Peluso is currently senior vice […] [Read More]

Lithia Motors released its fourth-quarter and full-year 2013 results on Wednesday, showing the highest Q4 adjusted net income and the largest annual revenue in company history, as well as double-digit boosts in new and used sales. President and chief executive officer Bryan DeBoer also noted in the company’s conference call to discuss financial results on […] [Read More]

Lithia Motors is well on its way to reaching 75 used sales per month per store, but it still has a bit of a ways to go from its current average of 53. That said, expanding used supply and its in-house inventory tools could provide the needed boost to reach Lithia’s used-sales goals. During last […] [Read More]

When Sonic Automotive opens its debut stand-alone pre-owned specialty retail sales location later this year, don’t expect it to have the same feel as a CarMax store or a “traditional auto retailer.” Though Sonic is largely keeping its cards close to the vest when discussing the specifics of the program, a few details emerged Wednesday […] [Read More]

Westlake Financial Services announced its 2013 Auction of the Year, an award given for sales effectiveness and service quality.  Earning the title this year is Kansas City Independent Auto Auction. “Kansas City Independent has been a reliable performer throughout the year, topping our rankings for the second, third and fourth quarters,” said Bill Walters, vice […] [Read More]

Overseas markets are proving to be fertile grounds for lease transfers from the U.S., particularly in a few Western European nations, according to data released Tuesday by online lease marketplace Swapalease.com. The site believes it’s becoming more common to see takeovers of U.S. leases occur solely for shipping the cars overseas once the term ends. […] [Read More]