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U.S. used-vehicle sales record set in 2021

Cox Automotive estimated that used-car sales finished 2021 at 40.9 million vehicles, an increase of about 10 percent over 2020.


OBITUARY: Tom Caruso

The remarketing industry veteran died Dec. 21 at 62.


XLerate Group plans to purchase America's Auto Auction

Once combined, XLerate and America's Auto Auction will have 39 auction sites in 19 states.


Used-vehicle prices reach record in October, J.D. Power says

Through October, used-vehicle prices were on average 37 percent higher than in 2020.


NAAA cancels 2021 annual convention

The decision comes just weeks before the annual event was set to take place in Chicago, and marks the second straight year the show was called off due to the coronavirus pandemic.


Penske, Cox develop used-vehicle online buying platform

The tool, Esntial Commerce, has been rolled out initially at Penske's CarShop used-vehicle stores before a planned expansion to franchised dealerships.


Used-vehicle prices poised for peak in U.S. after pandemic surge

The bellwether of the industry -- the wholesale market where dealers buy and sell in bulk -- has already topped out and prices of individual secondhand cars should follow in a matter of weeks.


CarLotz shares start trading after reverse merger

The company began trading shares Friday under the "LOTZ" ticker symbol. CarLotz CEO Michael Bor said going public should help raise the online used-car retailer's profile and visibility.


Used-car consignment store CarLotz to go public via merger

The deal would make CarLotz the third major U.S. online car seller to go public this year, following in the trails of Vroom and Shift Technologies as online vehicle sales boom during the coronavirus pandemic.


Cars.com looks to shed part of Chicago headquarters

The move comes four months after the company announced a round of layoffs triggered by the COVID-19 crisis.


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