UPDATED: Dealer Jim Smail was meeting with his fellow Pennsylvania Automotive Association board members at the Nemacolin Woodlands Resort 70 miles outside Pittsburgh on Thursday when several directors had to leave immediately. As these dealers were finding out, the wrath of the recent storms — which some project may have flood-damaged tens of thousands of vehicles — is […] [Read More]

Edmunds.com revealed Thursday that it has rolled out a new feature on the site than can help connect dealers with potential used-car buyers and generate more exposure for their used inventory. After what the company called a successful pilot, Edmunds added a used-car inventory search tool. While it helps shoppers find used cars in their […] [Read More]

The Manheim Used Vehicle Value Index ticked down again in August, but chief economist Tom Webb reacted to the reading with a cautious tone when discussing it with Auto Remarketing Thursday. “It’s not like a movement down like in the fourth quarter of 2008 when you were starting from a low base and went lower,” […] [Read More]

After six years of profitable growth, HookLogic obtained its first institutional investment Thursday. The company revealed Bain Capital Ventures is pouring $9.5 million of financing into HookLogic. Executives indicated the funding will be used to further develop their unique software-as-a-service platform that has underpinned the company’s record growth in the first half of 2011. HookLogic […] [Read More]

Wholesale prices gained some ground in August, climbing on both a year-over-year and sequential basis, according to OPENLANE, which also noticed month-over-month increases in dealer interest for three out of four segments. More specifically, the company’s U.S. Market Index came in at 107 for August, up from 105 in July and 103 in August 2010. […] [Read More]

The Association of Global Automakers voiced its displeasure with “Right to Repair” legislation that’s gaining strength in Massachusetts. What recently drew Global Automakers’ ire is Massachusetts attorney general Martha Coakley certifying all four Right to Repair petitions, permitting this legislation to move forward by way of the state’s public ballot initiative process. Association president and […] [Read More]

NASA recently launched a new interactive online program designed to give race fans the chance to learn about the many contributions the agency has made to the racing industry. The “Rockets to Race Cars” site can allow users to navigate through the NASA garage and learn about heat-resistant paint, fire-resistant materials, the development of better […] [Read More]

Although there were still supply issues stemming from the Japanese disasters, auto dealers throughout the country enjoyed sales lifts in the latest reporting period examined by the Federal Reserve. The most recent Beige Book, issued Wednesday, points to hikes in most of the Federal Districts that report car sales data. To illustrate its findings in further […] [Read More]

With Labor Day passing this past Monday, Black Book’s Ricky Beggs opted to take wider look at the wholesale market. Instead of examining just last week. Beggs reviewed activity from Aug. 1 through Sept. 1. “The used market is continuing to adjust. This is especially true for the one- and two-year old used models, making […] [Read More]

The National Vehicle Leasing Association established the date and location for its next annual conference. The event will be held from May 16-18, 2012 at the Renaissance Worthington Hotel in Fort Worth, Texas. NVLA explained the conference brings together the vehicle leasing industry for education, networking and an opportunity to meet with exhibitors who have […] [Read More]