The Manheim Used Vehicle Value Index continued a return toward the all-time high reached last May. February’s reading came in at 125.8 as the index of mix-, mileage-, and seasonally adjusted wholesale prices is now up 1.8 percent year-over-year and off only 1.6 percent from the all-time high mark of 127.8. The index now has […] [Read More]

ADESA announced this week that industry veteran Jeff Bescher has been named senior vice president of the company’s customer-relationship management process and inside sales division.  The company indicated Bescher will report directly to Bob Rauschenberg, executive vice president of sales, marketing and special services. In his new role, Bescher will oversee ADESA’s national sales support […] [Read More]

BMW North America honored 31 of its dealers Wednesday in revealing the winners of its annual Center of Excellence awards. These dealerships — out of the 339 BMW dealers nationwide — achieved this status based on their 2011 “performance in customer satisfaction, outstanding brand representation, operational excellence and profitability,” officials explained. [Read More]

The beginning of next month will mark the first time that an American has helmed the chief executive role for Toyota Motor Sales USA, as it was announced Wednesday that stepping into that position on April 1 will be Jim Lentz, who is currently the president and chief operating officer at TMS. Lentz’s move was […] [Read More]

In a series of recalls released Wednesday that include both foreign and domestic nameplates, Chrysler announced it will conduct a voluntary safety recall of some 2004–2005 Jeep Liberty models. Officials noted some of the models may experience excessive corrosion on the rear lower control arms. “This could lead to a weakening of the component and […] [Read More]

Car sales have rebounded quite strongly from the downturn in years past, and apparently, ample opportunities for the American auto business remain. Scarborough Research discovered through a recent study that 7 percent of U.S. households are looking to buy a new vehicle in the next year, which would mean 8 million households entering the market. [Read More]

The Iranian nuclear program crisis is leading to surging fuel prices, but it’s going to take a lot more than $4-per-gallon gas for the used-vehicle market to see much of an impact, according to the NADA Used Car Guide. The run-up in fuel costs will likely tap out at this $4 average in May, according […] [Read More]

The first session of 2012 in the free Auto Remarketing Training Series is set to include used-vehicle experts from AutoTrader.com, vAuto and Carfax. Dealers and store managers can join the instructional event that includes question-and-answer sessions beginning at 2 p.m. ET on March 20.  “The challenges in today’s used car marketplace are complex, and they […] [Read More]

Along with his monthly look at the specialty market, Black Book’s Ricky Beggs dove into a subject high on the minds of dealers and consumers alike — gas prices. Trying to get a handle on what fuel prices could do to the wholesale market was among the many subjects Black Book’s editors grappled with last […] [Read More]

The two “forces of graying” detailed by DMEautomotive’s “The Changing Service Loyalty Landscape” white paper could prove to be rather troublesome for car dealerships. One of those “forces” is the trend being spotted at the dealership service center, where it more common now to find consumers ages 50 and up, while the younger crowd is […] [Read More]