One of Used Car Week’s sponsors, Liquid Motors, rolled out a new solution this morning, a tool the company is calling LiquidConnect. LiquidConnect is a mobile application designed to empower dealers, independent auto auctions and inspection companies to perform vehicle data collection, update pricing, capture vehicle photos and input vehicle condition data. “LiquidConnect speeds up […] [Read More]

Results from the July dealer survey orchestrated by KeyBanc Capital Markets showed how much used-vehicle and F&I momentum stores had going into this past weekend’s Labor Day holiday sales stretch. All 100 percent of participating dealers said July sales were higher than the same month a year earlier. A total of 86 percent of responding […] [Read More]

In the Used Car Edition of its Blue Book Market Report, Kelley Blue Book dissected the used value activity in several segments, sharing some of the key models influencing the ebb-and-flow of pricing within their respective vehicle classes. Here are some of the key findings its analysts discovered in the report issued last week: Starting […] [Read More]

Heading into its annual convention that kicks off today, the National Auto Auction Association said late last week that the Legislative Committee Meeting open to all NAAA Convention attendees today will include a presentation on the Indiana Wholesale Dealer Licensing issue by a representative from the Indiana Secretary of State's office. The meeting is scheduled […] [Read More]

Fitch Ratings reported last week that losses on both prime and subprime U.S. auto ABS rose in July following lows seen earlier in the spring. Despite the increase, analysts indicated used-vehicle values have stayed strong in the past two months. "Additionally, overall asset performance remains strong heading into the softer fall months thanks to the […] [Read More]

Ford announced Friday that it is issuing a safety recall in the U.S. and Canada for approximately 370,000 large sedans — the Ford Crown Victoria, Mercury Grand Marquis and Lincoln Town Car — from the 2005 through 2011 model years. Blue Oval officials pointed out that the recall is only for vehicles in high corrosion […] [Read More]

According to Equifax's latest National Consumer Credit Trends Report, new credit for auto originations between January and May of this year soared to an eight-year high, producing an increase of more than 15 percent from same time a year ago. Equifax also indicated the total number of new loans during that span came in at […] [Read More]

Just before Labor Day weekend, Asbury Automotive Group made a financial market announcement and Penske Automotive Group boosted its international presence. First at Asbury, the company said it issued a notice of redemption for all of its outstanding 7.625 percent Senior Subordinated Notes due in 2017. Officials indicated the redemption date is Sept. 28,  and […] [Read More]

Have a slew of “ups” arrived on your lot or messaged your BDC looking for a used Toyota Prius? If they haven’t already, trends spotted by Kelley Blue Book show there is plenty of interest in the hybrid. Among the top 10 models generating the most shopper activity growth at KBB.com last month, a total […] [Read More]

Auction Edge announced new capabilities for its EDGE ASI system this week, reporting that customers now have EDGE Mobile Check-In and a new Green-Screen Report Generator at their disposal. These new tools are designed to help auctions improve business operations and their responsiveness to customers.  Here’s how they work: [Read More]