In the Beige Book report released Wednesday by the Federal Reserve, dealers in a few of the 12 districts talked about how the used-car market was faring in their respective areas during the early part of this year. What did these dealers have to say? Starting with the Fourth District (Cleveland), the Fed pointed out […] [Read More]

According to a new report developed by Black Book and Fitch Ratings, vehicles are likely to depreciate at a greater degree this year, though not enough to present any major obstacles to U.S. auto loan and lease ABS. Black Book said Wednesday that vehicle depreciation rates averaged just below 13 percent in 2012, a level […] [Read More]

“Dale, I’m starting to see my average days in inventory creep up. I had a strong January and decent February, so I’m a little surprised. What are you hearing from other dealers that might be causing this problem?” I asked the Chevrolet dealer in Michigan who posed this question to be more specific about the […] [Read More]

Following a successful fundraiser for United Way last December, Chrysler dealers will now repeat the sales promotion efforts with the goal of doubling donations. This week, Chrysler Group announced that the company and its 42 Detroit metro dealerships will re-launch a fundraising initiative for United Way for Southeastern Michigan during the month of March, after […] [Read More]

Since American Suzuki Motor Corp. officially received confirmation of its bankruptcy plans last week, NADA Used Car Guide decided to reexamine how values of this OEM’s vehicles are trending nowadays. Analysts decided to focus on one specific model to get a hold of the situation and found the 2010 Suzuki Kizashi S sedan provided some […] [Read More]

In a certified pre-owned market that keeps gaining steam, the CPO programs of at least nine brands enjoyed their best February on record last month, based on reports from automakers. February records were set for the Ford/Mercury, Hyundai, Kia, Mazda and Mercedes-Benz brands, as well as the Nissan, Subaru, Toyota and Volkswagen brands. How did […] [Read More]

Reaching within its nationwide network, ADESA on Tuesday announced the promotions of two longtime employees for the roles of executive vice president of U.S. auction operations. Named to the positions, which they will assume immediately, are Mike Caggiano and Pat Stevens. Both will continue to report directly to Tom Caruso, ADESA president and chief executive […] [Read More]

Multi-platform selling — perhaps a new buzz word in the industry? Liquid Motors thinks so, and the company announced Tuesday it is seeing “record growth” in use of its wholesale tools that utilize this system.  With marketplaces such as eBay Motors, Cars.com, AutoTrader.com and more, dealers  and others in the remarketing industry have many options […] [Read More]

Dealers and wholesalers who purchase vehicles through Ally Financial’s SmartAuction now have a new option for transport: ShipCarsNow. SmartAuction recently added ShipCarsNow as a transportation provider, connecting dealers with a vast vehicle delivery network directly from the auction site. ShipCarsNow, a Union Pacific subsidiary, can provide reliable and economical transport throughout the United States via […] [Read More]

As part of its ongoing campaign to integrate third-party dealer services with its software, Auto Manager Inc. on Tuesday announced it has reached a deal with a leading live chat provider. Auto Manager officials said the company will partner with Contact At Once, to offer chat to its WebManager Online Marketing clients, as AutoManager chief […] [Read More]