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The forecast shows that residuals on an average three-year-old vehicle will dip from the current three-year retention of 52% in 2016 to 47.8% by 2019. Increased used supply in the marketplace is the main culprit of slipping retention rates this year, the firm said.
Read More →The NADA Used Car Guide's used-vehicle price index fell to its lowest level in more than five years in April. Analysts expect prices this year to be down 5% and 6% on an index-basis from 2015, the steepest non-recession declines in the last 20 years.
Read More →Consumers not only prefer to buy from brands with social good campaigns, they expect auto manufactures to carry them out. According to a KBB survey, 64% of respondents expect automakers to carry out social good campaigns. An even larger percentage, 70%, would like to see more automakers promote social good campaigns.
Read More →Recall Masters’ news, data, training and communication will now be integrated into AutoLoop’s Fixed Ops Suite to provide real-time recall lookup of vehicles during service appointment scheduling, as well as during the vehicle check-in and inspection process.
Read More →Dealer.com was named among the Top 10 ‘Best Businesses Partnering with the Arts in America’ by Americans for the Arts, a nonprofit organization that focuses on art and education.
Read More →Mike Jurecki, who led the formation of RouteOne when he joined the joint venture as CEO in 2002, is leaving the technology firm to join FordDirect as CEO. He officially takes the helm on June 6.
Read More →The two firms have teamed up to provide vehicle owners with a faster and more efficient way to service their vehicles. The service is now available via Allstate.com, the Allstate Mobile app’s ‘My Rides’ section, and the Drivewise app.
Read More →Hearst Magazine today announced the formation of Hearst Autos, which is bringing together the media giant's collection of automotive businesses into one dedicated division. Hearst Autos will be composed of both business-to-business and consumer-facing brands like Car and Driver, Road & Track, Jumpstart Automotive Group and Veretech Holdings Inc.
Read More →General Motors should gain market share by replacing 88% of its light-duty lineup by 2020, while Volkswagen and Korean automakers are relying too heavily on cars with consumer demand shifting toward SUVs and trucks, a Bank of America Merrill Lynch analyst has said.
Read More →Cox Automotive announced this week that it has expanded Manheim into Quebec City. According to the company, this marks the second auction in the province of Quebec, following Manheim Montreal’s success.
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