Dealer consignment conversion rates shared by KAR Auction Services chief executive officer Jim Hallett Wednesday reinforced likely dealer observations — how units in these ADESA lanes are going to store inventory and not head back to the auction’s storage facility. In years past, dealer consignment units might have converted at 40 to 45 percent; however, […] [Read More]

Though static on a year-over-year basis, wholesale prices climbed 4 percentage points from March, according to OPENLANE. The company said Wednesday that it saw sequential growth in three of its four segments. Specifically, the company’s U.S. Market Index in April was at 109, compared to 105 during March. There were gains in the car, minivan and SUV […] [Read More]

InspectMyRide and eBay Motors unveiled details of their new relationship Wednesday, an agreement that can provide online shoppers the opportunity to obtain a comprehensive independent vehicle inspection performed by a qualified professional before the point of sale. Contained within each listing on eBay Motors is an order form for a vehicle inspection, regardless of where […] [Read More]

Although it remained positive this past week, the wholesale market was “just not as aggressive” as it had been in recent weeks, according to Black Book managing editor Ricky Beggs. Of all the wholesale value adjustments the company made in the past week, less than 53 percent were upward. The proportion of positive adjustments has […] [Read More]

Import automakers saw their April sales climb double digits on a year-over-year basis, with particularly strong sales being spotted in the smaller segments, according to the American International Automobile Dealers Association. Citing statistics from AutoData Corp., AIADA indicated that import brands moved 619,629 units during April, a 14.7-percent hike from the year-ago period, although down […] [Read More]

It shouldn’t be surprising one of the first considerations shoppers coming into your showroom will mention is fuel economy. The latest Kelley Blue Book Market Intelligence Survey concerning consumer sentiment and gas prices revealed the current economic situation, coupled with concern over the rise in fuel prices, has further caused an increasing number of new- and […] [Read More]

The NADAguides Car of the Month for May was announced this week and taking the honors is the 2011 Ford Fiesta. NADAguides lauded the car for high-quality engineering throughout the vehicle, its driving comfort, fuel-efficiency and overall values. The company also found the vehicle’s features to be “above and beyond what is expected in its class.” […] [Read More]

ALEXANDRIA, Va. — American Bankruptcy Institute officials determined April's consumer bankruptcies dropped both month-over-month and year-over-year. According to data from the National Bankruptcy Research Center, there were 134,720 consumer bankruptcy filings in April. ABI indicated that this amount was 7 percent lower than the same month last year when there were 144,490 consumer filings. The […] [Read More]

PHOENIX — DriveTime Automotive Group and DT Acceptance Corp., announced this week the start of an exchange offer for $151 million  aggregate principal amount of their outstanding 12.625-percent Senior Secured Notes due in 2017. The decision also includes the guarantees that were originally issued in a private offering on June 4, 2010. In connection with […] [Read More]

FORT WORTH, Texas — GM Financial revealed Wednesday that loan and lease financing on new General Motors vehicles accounted for 38.8 percent of the company's quarterly origination volume, compared to 19 percent in the previous quarter. Loan originations for the quarter came in at $1.1 billion, compared to $935 million for the previous quarter and $624 […] [Read More]