Agreeing with other wholesale industry analysts, ADESA’s Tom Kontos also discovered August prices softened both month-over-month and year-over-year. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by model class, wholesale prices in August averaged $9,881, which was down 1.0 percent compared to July and 1.2 percent lower than August of last year. […] [Read More]

TrueCar revealed Thursday that it has tapped a former Yahoo and American Express marketing executive to serve as its chief marketing officer. Appointed to the role is Todd Daum, who will head up the development, direction and oversight of TrueCar’s direct-to-consumer product marketing, e-commerce, advertising initiatives and media throughout the company’s properties. [Read More]

On the heels of OVE.com’s second annual Independent Auction Summit, the company announced it is bringing back the Strive 4 Five promotion — which provides participants with financial incentives to “capitalize on the incremental dealer business opportunity OVE.com provides," “Not only are partners able to use OVE.com as a defensive and offensive tool, they’re able […] [Read More]

Edmunds.com announced Thursday that it is now providing the online applications community its full database of vehicle specifications and pricing. By releasing this application programming interface, developers of online vehicle-shopping applications can gain full access to the tools that can help them craft and bolster their products. [Read More]

Nissan North America revealed Thursday that in an unconventional approach to marketing the automaker will be offering 16 Gran Turismo 5 gamers the chance to race behind a real wheel. In collaboration with Sony Computer Entertainment America LLC and Polyphony Digital Inc., the brand announced the premiere of reality television show GT Academy USA — […] [Read More]

Auto Remarketing recently learned of a change in the leadership on the pre-owned side of the business at BMW of North America. The company revealed to the publication that Joan Bowen, who was the marketing manager in the pre-owned department, has moved over to head up marketing for the company’s new electric vehicle brand. Additionally, […] [Read More]

As another of the automaker’s top executives prepares to address another large industry gathering, one of Toyota’s high-level managers confirmed that Toyota’s North American production has returned to 100 percent. Steve St. Angelo indicated the OEM’s recovery is well ahead of initial expectations. The Toyota Motor Engineering & Manufacturing executive vice president made the assessment […] [Read More]

Earlier this week, Ritchie Bros. Auctioneers broke ground on a new North Carolina facility located near the Raleigh-Durham area that will serve as a replacement for the company’s existing auction in Statesville, N.C. The site of new auction, located in Butner, is on 107 acres, about 24 miles north of the Raleigh-Durham International Airport. [Read More]

While still extending a downward push, TrueCar discovered  it did take a little more money to move new metal last month than it did a year earlier. The site determined the average transaction price for light vehicles in the United States was $29,539 in August, up $388 or 1.3 percent from last August. While the […] [Read More]

In response to customer requests, Warranty Direct, a provider of extended service contracts for vehicles, rolled out expanded coverage this week for its major policies at no additional cost. Warranty Direct executive vice president Tara Williams elaborated about why the company made this decision. “We are increasing the coverage for our most popular contracts by […] [Read More]