Soon after revealing a new deal for AAA customers, the Hertz Corp. announced it is relocating its corporate headquarters. The company will be moving its worldwide headquarters to Estero, Fla., from its current location of Park Ridge, N.J. This decision was made after its recent acquisition of the Dollar Thrifty Automotive Group, a deal which […] [Read More]

Black Book highlighted two-year-old vehicles posting the top retention values. On this list of 18 models, Toyota secured the top three spots with the 2011 Tacoma Double Cab retaining 88.4 percent of its original value after two years on the road. The Toyota 4Runner came in second on the list with 80.9 percent retention, and […] [Read More]

Based on preliminary results shared by Autodata Corp., the estimated total for industry-wide certified pre-owned sales in April would be the second-best month of all time. Autodata is estimating that April CPO sales reached 176,314, which would be a 23.2-percent year-over-year increase. It would trail the best-ever month — which, incidentally, was March — by […] [Read More]

Dealers are used to seeing an uptick in auction prices come spring, but this year, prices stayed relatively flat. Why? Kelley Blue Book’s Alec Gutierrez said this flatness can be attributed to “mild fuel prices and increased supply.” In fact, wholesale values increased only 2 percent in the first quarter, said Gutierrez, who is the […] [Read More]

General Motors announced on Monday that it is recalling 38,197 Chevrolet Malibu Eco and Buick LaCrosse and Regal sedans from the 2012 and 2013 model-years sold in the United States and equipped with eAssist to screen the generator control module for proper operation. The automaker said some of these vehicles may have a condition in […] [Read More]

A possible catalyst for the off-rental wholesale churn, Hertz Corp. and AAA expanded their ongoing exclusive partnership to provide both Dollar Rent A Car and Thrifty Car Rental rentals to AAA's more than 53 million members. As part of the agreement, officials highlighted AAA members will now receive a discount on value brands Dollar and […] [Read More]

CarMax founder Rick Sharp was honored this week for his leadership to the company, and an educational endowment has been created in his honor. Nearly 20 years after CarMax opened its doors at the first store in Richmond, Va., a store dedication ceremony held Monday honored Sharp, its retired board chairman. The ceremony included the […] [Read More]

BSC America recently announced that its Bel Air Auto Auction has opened a new marshalling facility in Belcamp, Md., which is 11 miles from the auction’s main campus. The marshalling facility includes 14 paved and fenced acres and features three offices and five bays. It can accommodate 2,500 vehicles. [Read More]

Already drawing praise from top-ranking large dealer group leadership, Cadillac today announced enhancements to its certified pre-owned vehicle program, including higher levels of warranty coverage and benefits for owners and shoppers. Effective today, General Motors said Cadillac’s certified pre-owned vehicles will extend coverage to match the new vehicle bumper-to-bumper warranty for up to six years […] [Read More]

Gas and wholesale pre-owned prices are falling as car buying season gets underway — a winning combination for dealers. And as the weather continues to warm as we approach summer, Kelly Blue Book’s manager of market intelligence and market analyst Arthur Henry said its “a good time to be a car enthusiast.” In fact, on […] [Read More]