FLD recently rolled out a new website — ActionAssets.com — an online marketplace for asset managers and commercial and municipal fleet managers to sell surplus inventory. Company officials believe ActionAssets.com utilizes a unique Web-based marketplace that connects sellers to buyers for a wide range of surplus inventory in an open sale environment. The site boasts a […] [Read More]

Beginning Saturday, Manheim is hosting a series of online event sales intended to help dealers navigate their hectic holiday schedules. The specials include the Year End Online Event Sale presented by Ford, a special offer on fees from Hertz and more than 1,000 units offered by Toyota. What Manheim believes is Ford’s largest event of […] [Read More]

This year is likely to “end on a high note,” as the stronger-than-expected retail new-vehicle market is projected to continue for the December, according to J.D. Power and Associates. Judging by the month’s first 10 days, the firm predicts that December will finish with 936,300 retail new-vehicle units sold, a year-over-year gain of 19 percent […] [Read More]

AutoTrader.com revealed that it has completed its transaction to acquire Kelley Blue Book. Site executives said the agreement — which was first announced on Oct. 26 — makes KBB a subsidiary of AutoTrader.com.  AutoTrader.com went on to reiterate a stance it shared during the initial announcement. The site strongly believes in maintaining KBB’s independent and unbiased position […] [Read More]

General Motors has officially finished buying back all of  the GM preferred stock that the U.S. Treasury owned as part of the Troubled Asset Relief Program, the government and the automaker announced. The automaker repurchased 84 million shares of its stock for a combined total of $2.1 billion. The $25.50 paid for each share was […] [Read More]

With the Hispanic shopper demographic becoming increasingly important, it appears one particular group of automakers is having more success than others in reaching these key consumers. So which brands are showing the most strength when it comes to Latino purchasers? According to R. L. Polk & Co., Toyota, Honda and Nissan have been implementing various efforts to specifically […] [Read More]

Wholesale values continued their year-over-year gains in November, but their upward movement is likely to become less steep in coming months in light of improving prior-year comparables, ADESA’s Tom Kontos reported Wednesday. Sequentially, the wholesale market continued to be rather static during November, Kontos said, but this is expected to change. [Read More]

Used-vehicle values are expected to remain robust next year thanks to supply shortage and a rather healthy used market, according to Nagi Palle, OPENLANE’s vice president of analytics.This was just one of trends that Palle is predicting for next year. He  touched upon a wide array of topics, including the new-vehicle market, leasing, auctions and customer retention. [Read More]

More than 228,000 Volkswagen models — including the Golf, Jetta, New Beetle and Rabbit — are part of a safety recall announced Wednesday by the National Highway Traffic Safety Administration. Officials said the recall stems from a defect that could compromise the under-hood fuel supply line. The vehicles being recalled include: —2007-2009 model year Golf. —2007-2009 […] [Read More]

KAR Auction Services tallied up final results of its previously announced cash tender offer for notes, an offer that expired at 11:59 p.m. ET Tuesday. Officials recounted that the offer stemmed from its 10 percent Senior Subordinated Notes due 2015 — known as First Priority Notes — and its 8.75 percent Senior Notes due 2014 […] [Read More]