Wholesale prices are still on the slow climb upward, says NADA Used Car Guide. NADA expects that used-vehicle prices will continue to climb by 0.2 percent, or $25, this week, similar to the prior two weeks' wholesale price movement. Across segments, expected changes are nearly all positive, with prices for only luxury cars anticipated to […] [Read More]

Granted, the recent retail used-car results of the big dealer groups are fruitful. But don't look past the wholesale impact of softer used-vehicle margins. Consider what Manheim's Tom Webb had to say in a blog post this week. With their fourth-quarter results pooled together, the seven publicly traded dealership groups saw their same-store used-vehicle retail […] [Read More]

Black Book announced Wednesday that it is now providing monthly valuation and pricing updates for all specialty market vehicles. This includes old cars and special markets like collectible, exotic and highline cars; as well as motorcycles and powersports, recreational vehicles and medium/heavy-duty trucks. The company explained that even though many of these markets might follow […] [Read More]

It was a busy year in the F&I office at Sonic Automotive dealerships, as the retailer increased revenue in the finance, insurance and other category by nearly 20 percent in 2012. Sonic closed the year by pushing up F&I revenue 18.4 percent year-over-year in the fourth quarter, pulling in $64.69 million. For the year, it […] [Read More]

Dick Hannah Dealerships gave away a brand-new car this month, as part of an annual project to give back to the community.   For the eighth year running, Dick Hannah Dealerships participated in the Valentine’s Day for CCA event held to raise money for children diagnosed with cancer and to benefit the Children’s Cancer Association. […] [Read More]

After releasing their report on new-car dealers earlier this month, IBISWorld came out with the Used Car Dealers in Canada Industry Market Research Report this week — a document containing numerous tidbits of good news for dealers looking forward.   Attributable in part to rising consumer demand, IBISWorld predicts used-car dealer profit and revenue will […] [Read More]

RouteOne Canada recently announced it has completed integration with General Motors’ captive finance organization GM Financial, which may simplify the credit approval process for GM dealers. All GM dealers may now send credit applications electronically through the RouteOne Canada platform as well as manage the entire scope of the credit fulfillment process, the companies reported. […] [Read More]

Seasonal patterns, such as an uptick in car buyers during tax season, lifted used-car pricing and wholesale activity this month, say Black Book editors. And continuing toward spring, the company said it expects "additional growth in new-car sales from pent-up demand will bring in more trade-in volume and result in a continued slow easing of […] [Read More]

Sparked in part by a rush of off-rental units, ADESA found January wholesale prices trending higher both on a month-over-month comparison as well as against year-ago readings. According to ADESA Analytical Services’ monthly analysis of wholesale values by vehicle model class, prices in January averaged $10,037 — up 2.5 percent compared to December and 1.3 […] [Read More]

Organizational changes were announced this week by family-owned Pittsburgh Independent Auto Auction, as several people take on new roles within its executive team.   Named chairman and chief executive officer of Pittsburgh Independent Auto Auction is David Angelicchio. Dennis Angelicchio has been appointed president of the company, and Debra Angelicchio-Jackson was appointed vice president. Company […] [Read More]