The most recent RDN Monthly Analytics Update indicated September recovery volumes increased 4 percentage points from August levels. But, the September reading still settled 4 points below year-ago levels. RDN indicated September recovery orders climbed 6 percentage points from the previous month and also increased 5 percentage points year-over-year. The RDN Recovery Market Trend Summary […] [Read More]

Although American Suzuki Motor Corp. announced plans late Monday to file for Chapter 11 bankruptcy, chairman Takashi Iwatsuki told dealers and vehicle owners that warranties will be honored, and service will be provided without interruption through the company’s parts and service network. “Following a thorough review of our current position and future opportunities in the […] [Read More]

Whether it's associated with a large, public dealer group or a single buy-here, pay-here lot, matching vehicles up with financing remains one of the biggest challenges managers still face. Recently, sister publiciation SubPrime Auto Finance News found the top boss from Penske Automotive Group and the current president of the National Independent Automobile Dealers Association […] [Read More]

The best quarter of all time for the certified pre-owned market was promptly followed by the strongest October ever. And another record year for CPO sales appears likely. Autodata Corp. reported Monday afternoon that there were 146,492 certified sales last month, which was a 5-percent year-over-year gain. This resulted in the year-to-date sum moving to […] [Read More]

Black Book’s Ricky Beggs said Superstorm Sandy will have an even bigger industry impact than Hurricane Katrina did seven years ago. Beggs on Monday indicated the number of flooded vehicles left by Sandy is expected to greatly exceed the 640,000 units destroyed during Katrina in 2005. Beggs and the team at Black Book have been […] [Read More]

Though the full impact of Hurricane Sandy on both the new- and used-vehicle markets has not been fully realized, new-vehicle sales continue to rise, according to the American International Automobile Dealers Association. AIADA  released October sales figures that showed the seasonally adjusted annual rate (domestics and imports combined) at 14.29 million units, an improvement over […] [Read More]

For the second time, Hertz Global Holdings extended the expiration date of its previously announced cash tender offer to purchase all outstanding shares of common stock of Dollar Thrifty Automotive Group. Now the deadline is 5 p.m. ET next Friday. The tender offer was previously scheduled to expire at 5 p.m. ET on Monday. Officials […] [Read More]

Many industry experts are concerned with how damages caused by Hurricane Sandy are going to affect the used-car market, but another question must be addressed, as well: How is the storm going to affect many Northeast dealerships’ relationships with their customers? [Read More]

Copart continued to expand its international interests on Monday, acquiring a salvage operation in Brazil. Copart announced the acquisition of Central de Leiloes LTDA, located in Sao Paulo, Brazil. Officials highlighted Central is a leading salvage vehicle auction company currently providing services to many of the leading automobile insurance companies in Brazil. Central serves the […] [Read More]

Plaza Auto Auction of Iowa recently revealed it has plans to install a new auction management system, which the company contends will pave the way for a partnership with OnLine Ringman to offer simulcast selling. Mark Greb, owner of the auction, reports the the facility will use VERO Auction Software and expects the system to […] [Read More]