Gross profits per used unit were down, but Penske Automotive Group retailed close to 15 percent more used vehicles last year, capping 2013 with a 17.8-percent increase in used sales for the fourth quarter.   This was part of a record-breaking overall year for Penske, whose leadership called it the “most successful” the retailer has […] [Read More]

Honda took the top three spots on Kelley Blue Book’s list of 25 most-researched vehicles on KBB.com during January, but it was Toyota leading the way with five of its models cracking the rankings. Ford was next in line with four, while Honda and Jeep were each represented by three vehicles in the top 25. […] [Read More]

Rendering of the AutoTrader.com Team Penske No. 22 Ford Fusion that will be driven by NASCAR Sprint Cup driver Joey Logano at the July 13 race at New Hampshire Motor Speedway. (PRNewsFoto/AutoTrader.com). SOURCE: AutoTrader.com The AutoTrader Group is adding a few “Days of Thunder” and “Talladega Nights” to its calendar. Two of the group’s companies […] [Read More]

NADA Used Car Guide’s latest Guidelines report released data that indicates prices might still spike during tax season before beginning a downward spiral. In January, prices remained flat, rising only by an average of 0.1 percent from December, according to NADA data. And price movements for the majority of segments were between a tight range […] [Read More]

If dealers are trying to lure customers to their lots with deals, they might want to take a look at this recent list from U.S. News & World Report. The company released its choices for the "2014 Best Cars for the Money," which highlighted cars vehicles in 21 categories — from subcompact cars to full […] [Read More]

There could be a higher-than-usual lift in off-rental volumes flowing through auction lanes in coming weeks, NADA Used Car Guide said in its latest Guidelines report, but this spike is likely to be offset by an increase in the number of buyers at auction, as well. The driver for both of these trends? Weather, of […] [Read More]

In the fourth quarter, the percent of used-vehicle sales at franchised dealerships comprised of certified pre-owned vehicles was at a seven-year high, according to Edmunds.com, which is projecting another record CPO year. Edmunds said in its latest Used Market Quarterly Report that certified units represented 20.2 percent of all used sales by franchised dealers in […] [Read More]

Cars.com is predicting an increase in lease incentive spending for 2014, and it appears that trend already began to play out in the opening month of the year. Chief analyst Jesse Toprak said the average leasing incentive per vehicle leased in January was up 4.3 percent year-over-year at $3,612. This follows a 5.1-percent rise for […] [Read More]

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]