CARMEL, Ind. — Average wholesale prices in February reached their highest level in eight months and passed the $10,000 mark for the first time since July, according to the latest report from ADESA's Tom Kontos.  Specifically, the average wholesale price during the month was $10,138. This represents an 8.3-percent year-over-year gain, and a 3-percent upswing compared to […] [Read More]

TORRANCE, Calif. — Honda on Tuesday issued a recall of more than 400,000 Odysseys and Elements after receiving complaints that the brake pedals feel "soft" or are not working as well as expected over time. The units covered by the recall include approximately 344,000 Odyssey and 68,000 Element vehicles from the 2007-2008 model years. The automaker said it intends to […] [Read More]

SANTA BARBARA, Calif. — Toyota's boosted incentive spending is not expected to affect the automaker's residual values in the long run. However, if these heightened incentives remain for more than three to six months, which is quite possible, there is likely to be some significant downward impact, according to the latest analysis from ALG, which examined the […] [Read More]

DETROIT — Saab Automobile announced its new executive director of sales earlier this week, and filling the position is Adrian Hallmark, who comes to the automaker from Volkswagen. His most recent post at VW was executive director of Asia, where he headed up operations in 50 markets, including China and Japan. In Hallmark's new role — which […] [Read More]

NEW YORK — The 2010 Harris Interactive EquiTrend Study that compiles consumers' opinions of 35 vehicle brands revealed two foreign nameplates posted the largest consumer equity increases during the past five years. Standing out with the two largest gains were Subaru and Hyundai. Harris indicated that Subaru rose from a reading of 44.36 back in 2005 to […] [Read More]

IRVINE, Calif. — There's a new No. 1 auto brand for customer loyalty, according to Market Intelligence data from Kelley Blue Book's Kbb.com. Toyota no longer holds it first-place perch. It has now been replaced by Hyundai, which moved past the embattled Japanese automaker and Honda to claim the top spot for brand loyalty in February. Specifically, February data indicated that […] [Read More]

AUBURN HILLS, Mich. — In a move that could help boost sales for the automaker in a highly profitable segment, Chrysler has rolled out a revamped certified pre-owned vehicle program that, among other improvements, includes a greater number of the automaker's dealers offering CPO models. The re-launched program features a dedicated CPOV Web site, in addition to […] [Read More]

HANOVER, Md. — The National Vehicle Leasing Association said Monday that it has turned to Automotive Association Services for management services. Heading up the project for AAS is Jack Tracey, president of AAS. "We handle other auto-related associations, and NVLA is a good fit," Tracey stated. More specifically, AAS offers management services to such organizations as the […] [Read More]

LEXINGTON, Ky. — Now that the spring market is upon us, it is important to be prepared to take advantage of your Internet sales opportunities. Here are three things dealers can do right now to get better results: 1. Take every online prospect seriously. Even if the person doesn't want to buy now, he will buy eventually, and if […] [Read More]

SANTA MONICA, Calif. — With the spring buying season imminent, TrueCar.com analysts offered what vehicles have the best Price Flex Score, a composite reading of total incentives, greatest percentage below MSRP, greatest price drops and days in inventory. Three Mazda vehicles were among the top five units, including the Tribute and RX-8, each having a mark […] [Read More]