News

BMW Adds Upstream Remarketing Platform for China

RMS Automotive has launched the first phase of a remarketing platform intended to drive sales for BMW China and its more than 400 CPO-program-authorized dealerships, the company announced.

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Carvana Acquires Augmented Reality Firm

Online used vehicle retailer Carvana has acquired Car360, a 360-degree photo technology, 3D computer vision, and augmented reality company, the company announced.

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Used Cars Outperforming Trucks at Auction

Used cars of all sizes outperformed trucks, vans, and larger SUVs at wholesale auctions in March, Black Book is reporting.

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J.D. Power: Used Truck Prices Drop in February

According to J.D. Power and Associates, higher volumes of both heavy- and medium-duty used trucks caused prices to fall off "substantially" in February.

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GovPlanet Expands Government Sales Team with 3 New Hires

Ritchie Bros. has hired Joe Lane as its first-ever director of state and local government sales. Lane has hired two government sales representatives to join his team.

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Lease Approval Rates Rise 2% in March

Lease approval rates registered 67.3% for Swapalease.com in March, which were 2% higher than the month before and signify a possible upswing in approval rates, according to the company.

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Kia's Certified Pre-Owned Sales Reach Record High

The company sold 7,698 CPO vehicles through the month, representing a 2.5% year-over-year increase. One of the strongest performing vehicles for Kia was its Forte sedan, which experienced a 20.2% rise in sales.

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Small Cars Values Continue to Rise for Fourth Week

Overall car segment value increased 0.15% last week, compared to a rise of 0.24% the week before. The main contributing segments to this rise were subcompact cars, compact cars, mid-size cars, and sporty cars. Respectively, these segments saw their values rise by 0.25%, 0.34%, 0.60%, and 0.30%.

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Manheim Hosts Toyota Auction Aboard USS Midway

The sale was a joint effort between Manheim San Diego and Toyota / Lexus Financial Services titled the “Heroes of History” Event Sale. The sale was held on March 27 and offered 175 pre-owned, late model Toyota and Lexus vehicles for sale.

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Carvana Expands to New England

Customers in Boston; Worcester, Mass.; Manchester, N.H.; and Providence, R.I. will now have the ability to have the used vehicles available through Carvana delivered to them as soon as the next day for free.

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