The wholesale market hit a five-week high for daily value adjustments last week and experienced the greatest overall decline in more than a month, according to Black Book managing editor Ricky Beggs. In fact, since mid-February, there have only been two other weeks that have exceeded the $29 decline shown last week, Beggs said in […] [Read More]

Manheim announced a strategic partnership with Renovo Services to begin selling repossessed vehicles directly from secured storage facilities across the country.  The recent agreement means Renovo will list its repossessed vehicles directly on OVE.com, allowing dealers faster access to vehicle inventory. Once a vehicle is purchased, it will be transported directly from one of Renovo’s […] [Read More]

In an effort to drum up interest for its first online event that’s geared for both dealers and consumers, FASTPennyCars.com launched its penny auction website on Thursday. What’s the hook? The expectation that a 2011 Chevrolet Camaro SS will leave the block for less than $1,000. The site lists MSRP for the unit at more […] [Read More]

A new Web-based presentation from NCM Associates featuring vAuto’s Dale Pollak aims to offer the secrets behind “unlocking” a dealership’s true potential. Through the complementary presentation available to NCM’s dealer clients, Pollak will demonstrate how using online advertising can potentially lower a dealer’s costs and increase used-car sales opportunities. [Read More]

Harris Interactive acknowledges consumer consideration for vehicles with alternative powertrains is on the rise. However, its latest study shows concerns regarding infrastructure, price, driving range and maintenance continue to dampen enthusiasm about these technologies. Those assertions are according to the 2011 AutoTECHCAST Study, released by Harris this week. Study orchestrators believe basic barriers continue to […] [Read More]

The tentacles of the Japanese disaster’s impact on vehicle production continues to have a far-reaching effect on the auto industry, and a prime example of this is the downswing in May leasing. Lease penetration in May dropped 1.6 percentage points month-over-month to 18.6 percent, according to the latest Industry Health Review from J.D. Power and Associates. Thomas […] [Read More]

Auto Remarketing learned Wednesday that JP Morgan Chase & Co. has revamped its sales scripts and marketing materials for its payment protection products under the Chase Auto Finance brand after the Office of the Comptroller of the Currency raised some challenges. In working with the OCC, Chase agreed to a penalty of $2 million and […] [Read More]

May’s slight downward movement of wholesale vehicle prices is what ADESA’s Tom Kontos has been expecting. ADESA Analytical Services indicated that wholesale used-vehicle prices in May averaged $10,460, a figure that was down 1.1 percent compared to April and 0.8 percent lower than May of last year. “I’ve been saying in my commentary for several […] [Read More]

TrueCar handed out report cards on Wednesday to OEMs and brands, with one particular automaker being honored with a “perfect score.” TrueCar uses eight measurements — for example, pricing, sales, incentives, customer loyalty, market share and days in inventory — to rate companies in its Performance Scorecards. With an “A+” score, Hyundai topped the list […] [Read More]

To meet customer demand, Prestige Management Services recently announced it expanded its partnership with OVE.com by doubling the number of online sales it hosts each month. Previously, the online sales were held every other week. But as of June 8, buyers seeking premium Prestige Management Services inventory now are able to shop weekly via OVE.com.  […] [Read More]