Experts from Kroll Bond Rating Agency (KBRA), S&P Dow Jones Indices and Experian all noticed some deterioration in auto finance performance before 2021 finished. Released four days before Christmas, data through November for the S&P/Experian Consumer Credit Default Indices showed the auto reading made the largest month-over-month rise in more than a year. [Read More]

Former ADESA president and chief executive officer Tom Caruso passed away on Tuesday, the auction chain’s parent company KAR Global said in a statement Thursday. Caruso, who retired in March 2020, spent 40 years in the remarketing business, including time as ADESA’s president and CEO, its chief operating officer and its executive vice president, among […] [Read More]

XLerate Group said Wednesday it has entered a definitive agreement to buy America’s Auto Auction; a deal that will create a supergroup of more than three dozen auto auctions. The companies did not disclose terms of the deal. The purchase is arguably one of the most significant in the recent history of the auto auction business. Granted, […] [Read More]

The Cherokee Media Group team wishes you a safe and happy holiday season and a joyous new year. This issue of Used Car Weekend will be the final regularly scheduled e-newsletter from our team in 2021 before we take a holiday break. We thank you for your interest, support, readership and feedback this year. The Auto Remarketing e-newsletters will resume […] [Read More]

Vroom will begin a new year with a new executive filling a newly created leadership position to oversee key functions such as vehicle acquisition and reconditioning. Late on Thursday, the online used-vehicle retailer announced the appointment of Thomas Shortt as chief operating officer, effective Jan. 3. Since 2018, Shortt has served as senior vice president […] [Read More]

John Stephens is bringing more than 30 years of automotive experience to AutoPayPlus by US Equity Advantage. The biweekly payment processing provider announced this week that Stephens has joined the company as chief sales officer. Most recently, Stephens served as executive vice president of dealer services at Texas-based EFG Companies where he oversaw the direct […] [Read More]

It’s coming down to the wire in certified pre-owned. For 2021 to match the best-ever year for CPO sales (which happened in 2019), dealers will have to sell more than … [Read More]

The cost of gasoline is up nearly 59% from a year ago, so the models topping the iSeeCars.com list of fastest-selling used vehicles makes perfect sense. A combined nine hybrids and electrics cracked the top 20 list for November. Seven of the nine — and each of the top four — fastest-selling used vehicles last […] [Read More]

KAR Global announced leadership changes at eight ADESA locations on Thursday. New general managers now are in place at operations throughout the U.S., including: — Michele Arguijo at ADESA Austin — Amy Coley at ADESA Washington, D.C. — Sheldon Jones at ADESA Little Rock — Derek Kline at ADESA PA — Sean O’Connell at ADESA […] [Read More]

Though the overall increase slowed, wholesale vehicle prices in Canada have now climbed for 18 consecutive weeks, according to Canadian Black Book. In the CBB Automotive Market Update released Tuesday the company said overall wholesale values were up 0.45% last week, compared to a 0.74% uptick the week before. The average for the same week […] [Read More]