In developments described as “long anticipated,” the downward slide of the Manheim Used Vehicle Value Index continued in April, extending the reading’s decline to four months in a row. Manheim indicated wholesale prices (on a mix-, mileage- and seasonally adjusted basis) declined 1.0 percent in April, bringing the index level to 119.2, which was 5.5 […] [Read More]

When considering auction units sold, dealer consignment and commercial consignment have been heading in opposite directions the past three years. In its 2012 Annual Review, the National Auto Auction Association looks at what’s behind this trend as well as its implication in the lanes. First, the statistics. According to NAAA survey data looking at auction […] [Read More]

In an effort to provide dealers with more options to check background information on retail units, Experian Automotive said Tuesday that Volvo added AutoCheck vehicle history reports to its certified pre-owned program. Now the company contends dealers have the ability to choose vehicle history reports based on their customers’ needs.  Commenting on the recent news, […] [Read More]

BMW of North America is recalling more than 42,000 vehicles in the U.S. for an issue dealing with the passenger-side frontal air bag. The National Highway Traffic Safety Administration said certain model-year 2002 –2003 325i, 325xi, 330i, 330xi sedans; 325Ci and 330Ci coupes and convertibles; 325iT and 325xiT Sports Wagons; and M3 coupes and convertibles are […] [Read More]

As economic recovery continues on a strong path in the U.S., findings from the 2013 Harris Poll EquiTrend study show that consumers’ perceptions of automotive brands continue to improve. In fact, the study — which assesed 30 brands this year — found that both the luxury and full-line auto categories improved, perhaps a sign of […] [Read More]

With the integration of the company’s U.S. website now finished, ADESA Canada announced this week it is launching next.ADESA.ca for OPENLANE customers The new site will replace the post-login pages of OPENLANE.ca, and users will buy and sell cars on this new platform. “This is the next step as we continue to move the ADESA […] [Read More]

Following a three-week promotion for the cause, Charleston Auto Auction and its dealers raised $5,000 for the Ronald McDonald House of Charleston. The auction held a 50/50 drawing each week to raise funds for the organization, which helps seriously ill children and their families. At the end of the promotion, Charleston Auto Auction matched all […] [Read More]

LARGO, Md. — Damon Lester, president of the National Association of Minority Automobile Dealers, sent a letter to President Barack Obama last week, articulating three possible ramifications if federal regulations eventually lead to the elimination of dealer markups. Lester outlined NAMAD's position in light of the Consumer Financial Protection Bureau sending out its guidance regarding […] [Read More]

CHICAGO — Fitch Ratings projected that U.S. auto lenders will likely report further weakening in asset quality metrics this year, attributing three reasons for its forecast. Analysts arrived at their assessment by mentioning three factors: —Lower used-vehicle values —Loosening of underwriting terms —Further seasoning of loan portfolios "Credit losses and delinquency rates increased on a […] [Read More]

ALEXANDRIA, Va. — The American Bankruptcy Institute reported that total bankruptcy filings in the United States decreased 8 percent in April compared to the same month last year. According to data provided by Epiq Systems, bankruptcy filings totaled 100,702 in April, down from the year-ago total of 108,996. Consumer filings declined 7 percent to 96,344 […] [Read More]