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Guaranteed Asset Protection claims — and losses — are on the rise, and ballooning negative equity appears to be partially to blame.
Falling used-vehicle prices are exacerbating the growing problem of negative equity on trade-ins, experts say. It's not going to get better anytime soon.
Jim Yates, a co-founder of vehicle inspection and software company Alliance Inspection Management, retired from his role as CEO effective immediately.
About 70 percent of online used-vehicle retailer Carvana's customers choose to finance their vehicles through the company.
Carvana, in its first quarterly report as a publicly traded company, reported a sharply wider loss on costs related to its expansion even as revenue surged.
ACV's expansion to eight additional markets shows that, despite the collapse of Beepi, there are still other startups seeking to find a niche in the remarketing world.
Publicly traded dealership groups are proceeding with used-only store plans in the face of declining new-vehicle sales, despite shrinking first-quarter used profits.
An online used-vehicle retailer specializes in an obscure but profitable niche — right-hand-drive Jeep Cherokees from Japan.
An incoming "tsunami" of off-lease vehicles could send annual U.S. new-vehicle sales tumbling as low as 13 million by 2021, according to one Wall Street analyst.
Unifor President Jerry Dias said he is not concerned about potential job cuts under new Ford CEO Jim Hackett, who oversaw about 12,000 layoffs during his tenure as the head of Steelcase Inc.
Unifor President Jerry Dias said he is not concerned about potential job cuts under new Ford CEO Jim Hackett, who oversaw about 12,000 layoffs as head of office furniture company Steelcase Inc.
The death toll from this month’s deadly auction crash rose to five as a 55-year-old man died from injuries sustained during the incident.
ADESA parent KAR's first-quarter net income and revenue both rose 14 percent, driven in large part by a surge in income at its auctions. Acquisitions also pushed the results up.
A 50-year-old Massachusetts man died Wednesday as a result of injuries sustained during last week's deadly crash at an auto auction near Boston.
Lear's plant in Whitby, Ont., once slated for closure, will assemble seats for General Motors' Oshawa assembly plant under a newly ratified labour agreement.
The man who drove the Jeep that struck several people in last week's deadly Massachusetts auction crash had a suspended driver's license, according to local reports.
A deadly crash at a Massachusetts auto auction has brought a recurring question back into the spotlight: How can bustling, cramped auctions be kept safe?
Safety features such as lane-departure warning systems and multiple airbags prevent deaths and injuries from vehicle crashes. But they're also driving up the number of vehicles deemed to be total losses following accidents.
Three people were killed at a Massachusetts auto auction Wednesday in what police believe to be an accidental crash.
Cox Automotive and KAR Auction Services own the two largest U.S. auction groups. But they've taken quite different approaches to growing and diversifying.
Sonic swung to a first-quarter loss of $541,000 from a year-earlier net profit of $14.6 million as the dealership group took a hit from refinancing its debt. Weak retail sales didn't help.
New York's attorney general has reached legal settlements with 104 dealerships it identified as having sold vehicles without disclosing open safety recalls.
Workers at the Tesla assembly plant in California have filed charges with the National Labor Relations Board accusing the company of illegally surveilling and coercing workers seeking unionization.
A glut of vehicles is threatening the industry's good times. But contrary to the predictions and pundits, it's not too many used vehicles. It's too many new ones.
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