Carl Miskotten, co-founder of Auction Broadcasting Company (ABC), announced on July 21, 2003 that he will be selling his interest in the company to Mike Hockett, the other co-founder, and to ABC.
Read More →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.
Read More →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.
Read More →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
Read More →Automobile Consumer Services, Inc., (ACS) specializing in online, direct-to-consumer automotive leasing, has launched a new Web site, bringing consumers an online marketplace for late-model, used vehicles. The site, called FrontRowCars.com, offers vehicles which are available for purchase, finance, or lease.
Read More →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.
Read More →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.
Read More →According to industry analyst Art Spinella, nationally, online sales of used cars topped 500,000 in May, and could hit 1 million a month by the end of the year. He added that two major advantages for the consumer of Internet sales are the wide selection and quick responses.
Read More →Based upon an analysis of wholesale used vehicle prices by model class, ADESA feels that a number of factors leads the company to believe that the worst is over for the used-car market.
Read More →The agenda for the IARA roundtable conference, to be held at the Downtown Marriott in Chicago, on July 23-24, 2003, is firming up.
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