ATLANTA — CAR Financial Services opened a new office in St. Louis, marking its 17th domestic office plus two international locations. CAR president Rick Potter highlighted expansion plans are in full gear and more offices are set to open later this year and early in 2014. "We are expanding into territories that have historically been […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute indicated total bankruptcy filings in the United States for July decreased 10 percent compared to the previous year, keeping the pace at the lowest rate the industry has seen in five years. According to data provided by Epiq Systems, July bankruptcy filings totaled 87,684, down from the 97,287 […] [Read More]

Fiserv’s Craig Carrow has a list of five keys to successful remarketing, four of which deal with topics like lower turn time, increased returns, lower operational costs and streamlined operational processing — all of which are fairly timeless in terms of their importance. [Read More]

Though pre-owned prices have decreased slightly from 2012 rates, data from Edmunds.com indicates that “used prices remain elevated over past norms.” Rising 1.9 percent from first-quarter levels, the average retail price for used vehicles sold at franchised dealerships was $16,134, the company said in its latest Used Market Quarterly Report. And though this represents a […] [Read More]

With gas prices sitting above $4 in many states in the country, it seems dealers didn’t have any trouble getting used vehicles in the compact segments off their lots during the second quarter. In Q2, these segments saw some of the lowest days-to-turn rates, as well as some of the largest drops from last year’s […] [Read More]

Polk analysis confirmed what dealers likely are already seeing if they’re spending much time walking around service bays or the auction lanes nowadays. The U.S. vehicle fleet population is continuing to get older. Polk reported today that the average age of all units on the road now stands at a record high of 11.4 years. […] [Read More]

Though off modestly from June, last month’s certified pre-owned sales jumped 21 percent from July 2012 and resulted in the strongest daily selling rate of all time, according to Autodata Corp. Dealers moved 182,753 CPO units in July, compared to 151,059 in the same month last year. This moved the 2013 year-to-date sum to 1.23 […] [Read More]

It’s that time of year again: Auto Remarketing’s annual National Auto Auction Association Convention Issue, which will be published in the coming weeks and available on site at the event. One of our special sections in this magazine will be our “Auction Life” feature, which will include photos from the outstanding NAAA-member auctions across the […] [Read More]

During the second quarter — which garnered 9.2 million sales for the used-car industry, according to the Used Market Quarterly Report from Edmunds.com — one brand, in particular, managed to snag the top two spots on both the list of most-researched used vehicles on Edmunds.com as well as the list of most-purchased used vehicles at […] [Read More]

Thirty-five percent of the used vehicles sold retail in the U.S. by Penske Automotive Group during the second quarter were certified pre-owned models. That’s according to a quote from the retailer’s chairman, Roger Penske, published in a transcription of the dealer group’s quarterly conference call last week by Seeking Alpha that can be found at: [Read More]