ALEXANDRIA, Va. — The American Bankruptcy Institute found total filings in the United States for October increased 16 percent compared to September. According to data provided by Epiq Systems, October bankruptcy filings totaled 101,278, up from the 87,522 filings registered in September. ABI determined the 96,498 total noncommercial filings for October represented a 16-percent increase […] [Read More]

REDWOOD CITY, Calif. — The most recent RDN Monthly Analytics Update indicated September recovery volumes increased 4 percentage points from August levels. But, the September reading still settled 4 points below year-ago levels. RDN indicated September recovery orders climbed 6 percentage points from the previous month and also increased 5 percentage points year-over-year. The RDN […] [Read More]

As the vehicle damage from Hurricane Sandy continues to be sorted out, Carfax’s Mike Platts is teaming up with the National Automobile Dealers Association for a webinar tomorrow that will look at best practices for working with customers who are considering buying previously damaged cars. The free webinar — which begins at 1 p.m. EST […] [Read More]

Brasher’s Sacramento Auto Auction is seeing sales “typical” to this time of year, says auction president John Brasher, with some trucks and SUVs soft in the lanes. During last week’s Post Sale Report video, the executive also explained “the rental market was good but not great. But again, that is typical for this time of […] [Read More]

The most recent RDN Monthly Analytics Update indicated September recovery volumes increased 4 percentage points from August levels. But, the September reading still settled 4 points below year-ago levels. RDN indicated September recovery orders climbed 6 percentage points from the previous month and also increased 5 percentage points year-over-year. The RDN Recovery Market Trend Summary […] [Read More]

Although American Suzuki Motor Corp. announced plans late Monday to file for Chapter 11 bankruptcy, chairman Takashi Iwatsuki told dealers and vehicle owners that warranties will be honored, and service will be provided without interruption through the company’s parts and service network. “Following a thorough review of our current position and future opportunities in the […] [Read More]

Whether it's associated with a large, public dealer group or a single buy-here, pay-here lot, matching vehicles up with financing remains one of the biggest challenges managers still face. Recently, sister publiciation SubPrime Auto Finance News found the top boss from Penske Automotive Group and the current president of the National Independent Automobile Dealers Association […] [Read More]

The best quarter of all time for the certified pre-owned market was promptly followed by the strongest October ever. And another record year for CPO sales appears likely. Autodata Corp. reported Monday afternoon that there were 146,492 certified sales last month, which was a 5-percent year-over-year gain. This resulted in the year-to-date sum moving to […] [Read More]

Black Book’s Ricky Beggs said Superstorm Sandy will have an even bigger industry impact than Hurricane Katrina did seven years ago. Beggs on Monday indicated the number of flooded vehicles left by Sandy is expected to greatly exceed the 640,000 units destroyed during Katrina in 2005. Beggs and the team at Black Book have been […] [Read More]

Though the full impact of Hurricane Sandy on both the new- and used-vehicle markets has not been fully realized, new-vehicle sales continue to rise, according to the American International Automobile Dealers Association. AIADA  released October sales figures that showed the seasonally adjusted annual rate (domestics and imports combined) at 14.29 million units, an improvement over […] [Read More]