General Motors announced late last week that it is recalling about 55,000 full-size trucks and vans in the United States to inspect the steering column for a possible defect. GM said it knows of no crashes or injuries related to the condition. If the steering column defect is present, the automaker said one or more […] [Read More]

Auto Remarketing recently celebrated another milestone within its social-media platforms. Hitting the landmark last week, the Auto Remarketing group on LinkedIn now has more than 4,000 members. Since reaching the 1,000 member mark in 2011, the community has rapidly expanded and includes leaders from a vast cross-section of the used-car business. This list includes executives […] [Read More]

Over the holidays, one South Carolina auction, in particular, and its dealers invested in the community, raising funds and collecting items for a children’s charity. For four straight weeks, Charleston Auto Auction held a 50/50 drawing each sale to benefit the Low County Orphan Relief — which helps children removed from their homes due to […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE HOUSTON — With the close of another year, most buy-here, pay-here operators will evaluate last year's performance by comparing their financial results with the past. They will base their goals and strategy for the next year by looking at financial and operating metrics like unit sales, gross […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE WASHINGTON, D.C. — The Federal Trade Commission recently completed its systematic review of the Cooling-Off Rule and determined that no changes to the rule are warranted that would have impacted dealers. In making this determination, the National Automobile Dealers Association indicated the FTC rejected several proposed changes […] [Read More]

ALEXANDRIA, Va. — The America Bankruptcy Institute discovered total filings last year dropped by 14 percent compared to 2011's figure. According to data provided by Epiq Systems, last year's bankruptcy figure represented the lowest since the start of the recent recession, coming in at 1,185,328 nationwide for the calendar year. During 2011, the U.S. total […] [Read More]

Normal 0 false false false EN-US X-NONE X-NONE ONTARIO, Calif. — CUDL and subsidiary Vero, providers of identity recovery and vehicle aftermarket products and services, announced plans to participate at the National Automobile Dealers Association Convention & Expo for the 10th consecutive year. During the convention, CUDL will be showcasing its growing credit union lending […] [Read More]

The wholesale market finished off 2012 at a stable pace, with little to no changes in prices in the lanes,  NADA Used Car Guide said Thursday. Down by a barely noticeable 0.05 percent, average AuctionNet wholesale prices in December were “essentially unchanged” from November levels as demand for all segments remained strong, NADA UCG officials […] [Read More]

November data compiled by the National Auto Auction Association showed average prices dipped both year-over-year and year-to-date for 2012. NAAA economist Ira Silver determined that November prices softened by 3.0 percent compared to the same month a year earlier. Through the first 11 months of 2012, prices ticked 1.8 percent lower. Moving to a look […] [Read More]

With close to an additional half-million lease returns expected to flow into the market this year, dealers likely will have a healthier dose of used vehicles on their lots, say analysts with Edmunds.com, who believe that the average price of a used car should drop by hundreds of dollars. [Read More]