Though the July Manheim Used Vehicle Value Index made its steepest decline thus far this year, the reading still represented a 5.9-percent increase from its year-ago level. Manheim determined this week that between June and July, wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) fell 1.3 percent, leaving July’s index reading at […] [Read More]

According to Edmunds.com chief economist, consumers and dealers need not worry about the recent stock market turmoil negatively affecting the new-car shopping process. Noting a few issues that are particularly important to new-car buyers, Lacy Plache concluded that despite the recent stock market downturn and downgrading of U.S. credit rating, car loans will still be available, […] [Read More]

Sonic Automotive is now utilizing a new mobile reporting application that can help its corporate executives and regional teams effectively gauge the performance of the group’s dealerships. The app is available on the iPhone and iPad and offers details on dealership sales and operating performance through a scorecard that is provided for each store. Sonic […] [Read More]

Dataium revealed Tuesday that it has launched new offices in Detroit and Charlotte, N.C., while also sharing that in July — which marked the company’s two-year anniversary — the firm notched record growth. More specifically, Dataium — an aggregator of auto shopper behavior — said its cloud intelligence data platform showed 10,000-percent year-over-year growth. The […] [Read More]

Consumer sentiment and confidence in the economy fell to its lowest level since 2009 and registered the sharpest drop in two years as debt ceiling debate turmoil in Washington revealed the realities of a weak economy, according to August’s Consumer Reports Index. Though most numbers regarding the automotive segment remained even with July, used-vehicle purchases […] [Read More]

With auction volumes down throughout the country and more and more dealers turning to online sales and retail view to fulfill inventory needs, Manheim recently made the decision to consolidate and merge some auctions together in the larger metro markets. Specifically, all auctions impacted had a common denominator, according to Mike Broe, Manheim’s executive vice […] [Read More]

While the message delivered recently by the Federal Trade Commission about vehicle warranty rejections is aimed toward consumers, it still highlights reminders for some dealers and automakers. [Read More]

Wholesale prices bested year-ago totals in July despite dipping 2 percentage points from June, according to OPENLANE. And although three of the four vehicle categories were down in price sequentially, one segment halted a long stretch of month-over-month decreases. More specifically, OPENLANE’s U.S. Market Index was at 107 in July, compared to 109 in June […] [Read More]

As Hertz Global Holdings announced it extended the expiration date of its exchange offer for the company, Dollar Thrifty Automotive Group reported a slight uptick in second-quarter net income. DTAG officials computed that their second-quarter net income settled at $42.5 million or $1.36 per diluted share. In the year-ago period, the level was $42.3 million […] [Read More]

With short-term leases still going strong on LeaseTrader.com, site officials also noticed when reviewing their July trends that Toyota and Lexus lease buyouts appear to be easing. LeaseTrader.com explained that Toyota and Lexus — still bouncing back from production and inventory issues stemming from March production setbacks — saw continued lease buyout activity from lease […] [Read More]