Used Car NewsUsed Car News

  • ABG 69.05 +0.72 - +1.05%
  • AN 56.36 +0.60 - +1.08%
  • CACC 143.00 +5.96 - +4.35%
  • CAR 55.47 -0.405 - -0.73%
  • CARZ 36.52 +0.0864 - +0.24%
  • CPRT 33.35 +0.36 - +1.09%
  • CPSS 7.12 +0.04 - +0.57%
  • CRMT 45.80 +0.38 - +0.84%
  • DAI N/A - N/A
  • F 13.95 +0.0349 - +0.25%
  • FIATY 0.00 0.00 - 0.00%
  • GM 30.91 +0.18 - +0.59%
  • HMC 30.76 +0.07 - +0.23%
  • HTZ 21.97 -0.39 - -1.74%
  • KAR 30.07 +0.09 - +0.30%
  • KMX 55.87 +0.91 - +1.66%
  • LAD 73.64 -1.13 - -1.51%
  • MZDAF 0.00 0.00 - 0.00%
  • NSANY 0.00 -0.07 - -0.40%
  • PAG 44.31 +0.50 - +1.14%
  • SAH 24.75 +0.32 - +1.31%
  • TM 116.16 +0.35 - +0.30%
  • TRAK 45.56 +1.04 - +2.34%
  • TSLA 238.90 +0.8214 - +0.34%
  • TTM 45.76 -0.14 - -0.31%
  • VLKAY 0.00 +0.822 - +2.00%
  • VROM N/A - N/A

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Higher Used Sales Boost Penske Revenues

Penske Automotive Group Inc. announced total revenue increased to $4.4 billion in the third quarter, driven in large part by higher used-car sales.

Used unit retail sales increased by 11.6 percent, including a 7.5 percent increase on a same-store basis.

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RDN Partners with LPR Firm

ADESA announced that its subsidiary, Recovery Database Network (RDN), has partnered with Digital Recognition Network (DRN).

The collaboration allows RDN lenders to access DRN’s SmartRecovery data from within the RDN system, simplifying the vehicle-recovery process.

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Chrysler Recalls Diesel Trucks

Chrysler Group LLC is recalling 132,223 model year 2010-14 Ram 2500, 3500, 4500, and 5500 trucks manufactured March 27, 2009, to Sept. 5, 2013.

In the affected vehicles, the electrical connectors of the diesel fuel heater may overheat.

If the connectors overheat, the fuel heater may leak fuel, increasing the risk of a fire.

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Ally Sees Strong Franchise Finance Performance

Ally Financial Inc. reported net income of $423 million for the third quarter, compared to net income of $323 million in the prior quarter, and net income of $91 million for the third quarter of 2013.

Results for the quarter were driven by continued strong performance from the auto finance franchise. Automotive net financing revenue increased 6 percent year-over-year, despite normalizing trends for used vehicle prices, while automotive earning assets grew 7 percent year-over-year, driven by continued strength in originations.

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