Auto Remarketing

APRIL 12, 2024

When tax season arrives, dealers know customers are coming — and they need cars to sell them. Not surprisingly, then, the monthly Cars Commerce Industry Insights Report for March showed a big surge in inventory. At the same time, used-car prices plummeted 5.1% Cars under $10,000 were up 19.1%. That was also 4.7%

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Autoblog: Repairs

AUGUST 14, 2024

Vehicle prices continued a downward trend in July — the most of any major category in the Consumer Price Index (CPI) over the last year as the car market continues its return to "normal" following pandemic-fueled inflation. Used car prices fell 2.3% New car prices fell 0.2% Prices for used cars and trucks are still 16.9%

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AutoSuccess

FEBRUARY 11, 2025

Car Pros Automotive Group announced that 2024 was another year of sales leadership and customer service excellence for its dealerships. For the fifth consecutive year, Car Pros Kia Glendale ranked no. MINI ofDowntown Los Angeles, which Car Pros acquired in 2023, secured the no. 1 in new Kia retail sales in the nation.

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AutoSuccess

FEBRUARY 15, 2024

Dealerships in 2024 will continue to face used car sourcing challenges. I recently read an article that netted the issue: “Dealers navigating a used-vehicle market that already allows little room for error are eyeing another obstacle: worsening used-car availability.”

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Auto Remarketing

OCTOBER 20, 2023

However, there are a few things you should know to have a better chance of success when it comes to sourcing and managing your used vehicle inventory. The top three things used-car managers should pay attention to right now are to be active buyers, reduce average inventory cost, and lean on market data for more informed decisions.

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Auto Remarketing

OCTOBER 22, 2024

Power showed the numbers crunch unfolding that might again be pitting the used-car department versus the new-car division. And Cox Automotive reported last week that overall new-vehicle days’ supply stood at 81 at the start of October, just one day more than the 80 days analysts noticed October 2019.

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Auto Remarketing

JULY 30, 2024

Perhaps it’s jumping to conclusions, but the only segment in Black Book’s tracking to squeeze out a wholesale value uptick last week might relate to vehicles in position to solve one of the pressing current challenges to get cars financed and retailed. That’s up 80 basis points year-over-year , according to data collected via Dealertrack.

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AutoSuccess

MARCH 28, 2024

A 2022 Bureau of Labor Statistics report reminds us that from the 2007 to 2009 recession — and through the onset of the pandemic in 2019 — “car and truck dealerships faced an economic shock and compressed profit margins on new vehicles.” CarEdge Data pointed out that February inventory supply ranged from two weeks to two years.

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Used Cars Management Retail Vehicle 93

Tomorrow's Technician

JUNE 27, 2024

Although the dust has settled on the VW Diesel gate scandal, the story is still not over for diesel cars that were bought back by VW. You may have noticed that there are a lot of 2009-2015 diesel Jettas, Bugs and Golfs hitting used car lots. In late 2019, they started selling the fixed cars at auction to dealers.

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AutoSuccess

APRIL 5, 2024

Car Pros Honda El Monte has received the 2023 Honda Masters Circle award from American Honda Motor Company Inc. The dealership is part of the Car Pros Automotive Group, one of the fastest growing automotive groups in the United States. Car Pros began as a small used car lot with just two employees when it was founded in 1993.

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Auto Remarketing

OCTOBER 11, 2024

The car-buying public has a message for the used-car industry, and it’s this: We don’t want to pay too much for a vehicle. That message was clearly conveyed in CarGurus’ latest Quarterly Review, which found sales of lower-priced used cars rising and high-end vehicle sales falling. “As

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Auto Remarketing

OCTOBER 24, 2023

Like the number of teams still alive in the MLB playoffs, used-car prices are dropping in October. Compared to the pre-pandemic reading in September 2019, prices were up 36.6%. Segment trends The Kontos report indicates that car segment prices climbed 2.7% Compact car pieces as of mid-October were down 9.3%

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AutoSuccess

MAY 7, 2024

Cox Automotive is rolling out its used car industry solution that will measure the EV battery health for each specific VIN across Manheim. Since 2019, Manheim has invested more than $200 million in EV infrastructure and process improvements. Manheim has been preparing for the influx of EVs into the wholesale marketplace.

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AutoSuccess

AUGUST 20, 2024

Now, car sales have surpassed pre-COVID levels, and marketing budgets are surging as many dealers have realized the bottom is already behind us. Something the automotive SAAR doesn’t capture is the part that used car sales play in your store’s profitability. Forecasts are pointing to a rapid climb into 2025. The result?

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AutoSuccess

JUNE 11, 2024

This indicates that dealers feel pressure to lower prices while still facing challenges in offering the value consumers expect, as incentives remain below 2018 and 2019 levels. ” The survey also asks dealers to rate new-car sales and used-car sales separately, along with various key drivers, including consumer traffic.

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Auto Remarketing

JULY 23, 2024

Perhaps of most interest to used-car managers, Edmunds said that its data through June showed 51% of all Teslas traded in to a dealership went toward a purchase or lease of a new ICE vehicle. That’s the lowest reading in Edmunds’ data set that went back to 2019. It does not include direct-to-consumer sales.

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