New-car prices in Canada were down 3.1 percent in June, and this decline was a primary driver of lower inflation rates for the month, according to Statistics Canada’s latest Consumer Price Index report. While the report did not delve into where used-car prices come into play, instead focusing on the new-vehicle segment, Michael Hatch — […] [Read More]

In late breaking news out Thursday, the moment much of the industry has been waiting for finally came to pass. The leadership team for Chrysler/Fiat has been revealed. And heading up both Chrysler and Fiat as chief executive officer will be Sergio Marchionne. The company announced the formation of a group executive council, similar to […] [Read More]

National Auto Auction Association economist Ira Silver needed only one word to summarize second-quarter wholesale volume. What did Silver say? He called second-quarter volume “disappointing.” Silver revealed this week that second quarter auction volume declined 11.2 percent year-over-year after dropping 7.8 percent in the previous quarter. He indicated smaller increases in dealer consignment were more […] [Read More]

The Auction Broadcasting Co. has named a new vice president of sales to take over for Jason Hockett, who is moving up to be vice president and managing partner of ABC Auctions. Filling Hockett’s position is Keith Whetter, who has been with ABC since August 2009. Whetter’s time in the industry includes roles with General […] [Read More]

Though projected to improve year-over-year, used sales for July are likely to be softer than where they were a month ago, according to TrueCar. The company suggested Thursday that the second half of 2011 could be rather challenging for the overall car market. More specifically, TrueCar is forecasting 4.05 million used sales for July, which represents […] [Read More]

As overall wholesale prices softened again last week, Black Book’s Ricky Beggs cautioned dealers who are watching the lanes and their laptops that exceptions still remain. Beggs explained these exceptions are particularly noticeable even as 2012 models begin to arrive on dealer lots. “Even though the overall changes represent a market that continues to ease […] [Read More]

If the tentative second-quarter and first-half global performance report released Thursday is any indication — with year-to-date revenue up more than 20 percent and net profit up 41 percent — Hyundai’s surge appears to be rolling along. However, what may pose a “threat” to Hyundai’s snowballing momentum in the new-vehicle market are the upcoming launches […] [Read More]

Flint Auto Auction recently celebrated its 58th anniversary, and more than 900 dealerships attended the celebration. The event featured consignment of 1,578 units, including vehicles from Ally Auto Remarketing, TD Auto Finance, Avis/Budget Group, Enterprise and Santander USA. Concluding the sale was a jackpot drawing for $2,200 in cash. “As we approach nearly six decades […] [Read More]

Stay tuned. Decisions are near. That, in a nutshell, is the message Sergio Marchionne gave this week when talking about the yet-to-be-announced plans for the leadership of newly aligned Chrysler and Fiat. With rumors swirling this week about how the management structure will shake out and when it will be revealed, the chief executive officer cleared […] [Read More]

The 2011 National Remarketing Conference, which will be held Nov. 16-18 in Las Vegas, has been adding new speakers to its agenda, and it was recently announced that the keynote panels for the first and second days of the conference have been finalized. [Read More]