Last month was the strongest August ever for the certified pre-owned market, according to Autodata Corp., and a quartet of brands posted their best-ever CPO sales. The firm said this morning that there were 160,206 CPO sales during the month, which marked a 9.6-percent year-over-year increase and a 6.1-percent jump from July. Through eight months, […] [Read More]

As dealers wrapped up what seems to be a successful Labor Day weekend for sales, Ricky Beggs, managing editor at Black Book, noted it may be time for some buyers to venture into the lanes to fill their lots back up after holding special holiday deals. [Read More]

Private-party sales showed the greatest increase, franchised dealers increased used sales by more than 3 percent and independents saw their used sales fall 6.6 percent. That’s the word from CNW Research, which said Tuesday that, overall, August used-vehicle sales reached 3.87 million units for a 1.5-percent year-over-year uptick. Breaking it down, franchised dealers moved 1.48 […] [Read More]

When it comes to sourcing supply, the outlook for the certified pre-owned industry looks bright, says Toyota’s Brad Heagy. He told Auto Remarketing that he believes the industry is past the peak in used values and over the trough in used availability, and that trade-in supply may be on the verge of increasing. “I would […] [Read More]

Reynolds and Reynolds has announced the availability of integration between the Reynolds ERA and POWER dealership management systems and the Provider Exchange Network, or PEN, which it calls a “digital pipeline” connecting F&I product providers with the dealer management systems or other dealer point-of-sale systems. Available as of this month, Reynolds said integration with PEN […] [Read More]

Utilizing Manheim’s online auction technology, Jaguar Land Rover North America revealed it experienced its “most successful” Simulcast Everywhere sale yet. Jaguar Land Rover North America — the first luxury automotive manufacturer to use Manheim’s Simulcast Everywhere technology —  shared that on the July 24 sale,  the company sold 100 percent of Land Rover and 88 […] [Read More]

The continuing education program designed to train the next generation of auction industry professionals now has an exclusive new sponsor, one who has signed a multi-year agreement. Announcing its sponsorship of the Auction Academy is Dealer Services Corp. of Indiana, which has signed on as exclusive Floorplan Finance Industry Segment Sponsor. Auction Academy, which was […] [Read More]

NASHVILLE, Tenn., and EL DORADO HILLS, Calif. — Primeritus Financial Services recently announced several top management promotions at its California location and one promotion at its Tennessee office.  Among the promoted members of the El Dorado Hills, Calif., office are: —John Fountaine, vice president and general manager —Chris Oskiera, VP of USA Recovery —Bill Sheehan, […] [Read More]

SCHAUMBURG, Ill. — Lenders awarding new-vehicle contracts to customers in the nonprime, subprime and deep-subprime risk tiers grew by double digits year-over-year during the second quarter. Experian Automotive determined 25.41 percent of all new-vehicle loans went to customers in the nonprime, subprime and deep subprime risk tiers as loans to credit-challenged customers climbed 14 percent […] [Read More]

CINCINNATI — Swapalease.com might have found more evidence of improving credit for consumers. Since the end of May, site officials discovered US Bank customer approvals for taking over a contract on Swapalease.com climbed to an average of 73.7 percent, compared with 55.5 percent at the same time last year. The site emphasized consumer credit is […] [Read More]