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 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

APRIL 12, 2024

At the same time, used-car prices plummeted 5.1% March’s data shows the new- and used-car markets are adjusting,” the Cars Commerce analysis said, “with new-car prices continuing to drop and used-car prices hitting their lowest point in years, signaling a move toward more typical pricing.”

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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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Used Cars Management Car Retail 52

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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Trucking Retail Automotive Used Cars 98

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

Auto Remarketing

JULY 30, 2024

And Black Book noticed wholesale prices for vehicles that might be affordable — midsized cars — edged up 0.14% last week. Smoke made his observation when he reported the average rate for used-car financing booked so far this month has increased 29 basis points to 14.42%.

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AutoSuccess

FEBRUARY 11, 2025

Power recognition, Car Pros Kia Glendale, which has served communities in and aroundLos Angeles,Orange County and the Inland Empire inCaliforniasince 2004, was once again named to the Kia’s President Club in 2024 for the eighth time, recognized for high overall sales volume and outstanding customer satisfaction.

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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 achieved its best year ever in 2023, selling 3,242 new Hondas, an increase of nearly 60% from the prior year. Car Pros Honda El Monte has been part of the Car Pros Automotive Group since 2019, achieving unprecedented growth with a 4-year compound annual growth rate of 22.43%. increase over 2022.

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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%. That’s according to the September/October Kontos Kommentary released Tuesday by ADESA chief economist Tom Kontos.

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Vehicle Used Cars Trucking Car 52

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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Finance Used Cars Vehicle Car 52

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

It’s a gauge of how many vehicles are trending to be sold that year and helps us compare sales volume against other points in history — or does it? Something the automotive SAAR doesn’t capture is the part that used car sales play in your store’s profitability. The SAAR, after all, only accounts for new vehicle registrations.

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Consulting Retail Car Vehicle 52

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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Automobile Automotive Vehicle Retail 52

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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