Vehicle Remarketing

News

Deflation Makes Used Cars a Better Buy, Says Columnist

Doron Levin, columnist for Bloomberg News, says that prices of used cars have been falling faster than those of new cars, widening the gap between them. He added that that is bad news if you own a used vehicle or plan to trade one in. But it could be an advantage for those in the market and willing to consider buying a slightly used car instead of a new one.

Wal-Mart and Asbury Automotive End Used-Vehicle Pilot Program

A pilot program between Wal-Mart and Asbury Automotive here to sell used cars at Wal-Mart Supercenters ended on July 11, 2003, because the volume of customer traffic did not meet expectations. Asbury Automotive, the country’s fourth-largest automobile retailer, shut down its Price 1 Auto Stores at Wal-Mart stores in Richmond, Uvalde, Pasadena and Orange, TX.

CenterOne Financial Services Signs The Huntington National Bank for Pro-Active Lease Vehicle Remarketing

CenterOne Financial Services (CenterOne) announced on July 14, 2003, that it has entered into an agreement to manage pro-active lessee contact and vehicle remarketing of the Florida region lease portfolio for The Huntington National Bank (Huntington). Headquartered in Columbus, OH, Huntington provides indirect auto retail, lease and commercial lending products and services through more than 3,000

Chrysler Group Enhances Certified Warranty

DaimlerChrysler announced on July 22 that it has added a three-month/3,000-mile limited warranty to its Certified Pre-Owned Vehicle program. Units that qualify for the warranty already carry the seven-year/70,000-mile transferable new vehicle warranty, which includes 2003-model vehicles and those to come.

100 Percent of Vehicles Sold at Manheim’s First Auction in Thailand

At first glance, it seems like any other summary of a very successful day at an auto auction: two sales achieve a 100 percent sale rate and average $2,000 per car over reserves. But the 50 dealers who attended the sales had never before been to an auction. In fact, it was the first-ever auction of its kind in the country where it took place — Thailand.

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