Kia and Subaru each had their best certified pre-owned months of all time in October, and they weren’t the only ones celebrating records last month. The CPO market posted its strongest October ever, and at least two brands did the same, as a litany of certified programs continue to achieve hearty numbers in what will […] [Read More]

Auto Remarketing will recognize Longo Toyota as its 2012 CPO Dealer of the Year later today during a special presentation at Used Car Week, which gets underway with the annual CPO Forum. Paul Faletti Jr., president and chief executive officer of award sponsor NCM Associates, will present the award to Greg Penske, chairman and chief […] [Read More]

Carcannon announced it has been selected by Volkswagen of America to provide certified pre-owned consultations to its dealers nationwide. Commenting on the news, Scott Weitzman, general manager of used-vehicle operations for Volkswagen of America, said, “We are pleased to work with Carcannon as we are well aware of its reputation for providing professional and thorough […] [Read More]

According to ADESA Analytical Services’ monthly look at wholesale prices by vehicle model class, prices in October averaged $9,742. The figure represented a 2.0-percent uptick compared to September, but a modest 1.4-percent softening relative to last October. ADESA found prices for trucks were up more than those for crossovers and cars “as they have already […] [Read More]

Chrysler Group said last week it will recall older-model 2002–2003 Jeep Liberty and 2002–2004 Jeep Grand Cherokee vehicles to address a potential for inadvertent air bag and/or pretensioner deployment. Officials said a thorough investigation by the automaker and the National Highway Traffic Safety Administration determined flawed occupant restraint control modules, leading to this action. The […] [Read More]

Dealers in the Northeast have enough to worry about in the aftermath of Hurricane Sandy, and Manheim is looking to lighten their load during the next couple months. Manheim is responding by offering flexibility to some policies, such as storage arrangements, “to help dealers during this challenging time.” [Read More]

What dealers have known as DealerTrack Holdings not only reported its third-quarter financial results last week, but the company also changed its name. Going forward, the company is now known as Dealertrack Technologies. As far as its third-quarter performance for the span that ended Sept. 30, the company first reported its GAAP results, which included: […] [Read More]

New document management upgrades for its leading industry mobile application can help speed dealers to auction-readiness, says dealer credentialing solution company AutoTec.  The company announced new features to its AuctionACCESS Mobile application that it says will allow dealers to upload and electronically sign documents directly from their iPhone, iPad or Android device. With these upgrades, […] [Read More]

ATLANTA — While data from Equifax showed the total amount of debt consumers absorbed in the third quarter dipped year-over-year, borrowing to make a vehicle purchase gained steam during the time span. Equifax indicated that across the country, auto bank and auto finance debt rose 7.1 percent during the third quarter compared with the same […] [Read More]

ATLANTA — After the company acquired the assets of Resurgent Auto Finance back in August and secured nearly $100 million in funding from a New York-based investment firm, Global Lending Services recently bolstered its executive team — a contingent that boasts more than 100 years of industry experience. The team is under the direction of […] [Read More]