Auto Remarketing continues its reporting on the second quarter used-vehicle results of the six publicly traded dealer groups. Next up is Penske Automotive Group, where a take-private bid has made headlines in recent days. But as far as the Q2 numbers are concerned, here’s how the used-car operations of the retailer fared. Penske moved 59,070 […] [Read More]

What a potential buyer is looking for on the dealership lot or website is noticeably aligned with what buyers in the lanes are searching for at the auction. The ongoing scenario might be really that simple, based on analysis included in the newest installment of Market Insights from Black Book. The report noted that overall […] [Read More]

Lithia & Driveway posted its best-ever second quarter revenues, but the highlight in its pre-owned operations was a sharp quarter-to-quarter increase in used-car profits per unit. Releasing second-quarter results Wednesday, Lithia said it sold 106,114 used retail units in the second quarter, down 2.7% year-over-year. So far this year, it has moved 215,265 used retail […] [Read More]

One of the celebrated annual issues of Auto Remarketing returns in September. “The Auto Auction Issue: In-Lane and Online” will showcase the wholesale vehicle ecosystem through in-depth features, photo spreads from auto auctions, market insights, a guide to commercial consignors and human-interest stories. The features on tap for this issue include: — The changing nature […] [Read More]

Along with welcoming a new attorney to the firm’s office in Sarasota, Fla., Weltman, Weinberg & Reis recently reiterated five potential situations when replevin actions could help credit unions recover secured assets when traditional repossession efforts are unsuccessful. The full-service creditors’ rights law firm in operation for nearly a century acknowledged that self-help repossession is […] [Read More]

Credit availability and digital adoption are running in the same upward direction, which is creating positives for dealerships and finance companies booking loans and lenders eventually using them in securitizations. Wolters Kluwer Compliance Solutions on Wednesday released its Q2 Auto Finance Digital Transformation Index, highlighting that eContracting volume increased by 7% sequentially and 2% year-over-year. […] [Read More]

After surveying 114 independent auto dealers to get clarity about the biggest obstacles to closing more deals that need the participation of lenders for financing, Agora Data followed up that project by offering five characteristics that operators should consider when choosing a subprime auto finance partner. “Selecting a strong subprime auto finance partner is one […] [Read More]

The publicly traded dealer groups have started reporting quarterly earnings and Auto Remarketing will be sharing the used-car results of each retailer. That begins with Asbury Automotive Group, which reported second-quarter results Tuesday, including a double-digit spike in used-vehicle retail gross profits per unit. Asbury generated $1.094 billion in retail used-vehicle revenue during the quarter, […] [Read More]

Like NASA’s Artemis II mission in April, retail used-car prices rocketed into orbit this spring. And slowly but surely, “they’ve come back to down to earth.” Just not at astronomical speeds, says CARFAX, known for its history reports on more earthly vessels. The CARFAX Used Car Index in July is up 0.1% from June, an […] [Read More]

Blue Oval dealerships now have another option for tools they use to collect payments from customers. Dealer Pay, driven by Vehlo, has been named a preferred vendor in The Shop by FordDirect, which is a curated marketplace of trusted dealership solutions. According to a news release distributed on Tuesday, Dealer Pay is the first payments […] [Read More]