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Report: Tariff worries fuel record used-car sales in March

Auto Remarketing

In its latest State of the Dealer report, ZeroSum said March used-vehicle sales soared to the highest level in its seven years of tracking that data, while new-vehicle movement jumped 38% month-over-month, thanks to a combination of more selling days, tax refunds and most notably pull-ahead sales related to tariff concerns. 28 to March 31.

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Used-car sales pick up pace after slow start to 2024

Auto Remarketing

The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year.

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How Will UAW Strike Affect New, Used, and Rental Vehicles?

Automotive Fleet

Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher. Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists.

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Surge in wholesale prices signals start of tariff-fueled ‘roller coaster ride’

Auto Remarketing

A surge in wholesale used vehicle prices in the past two weeks signals the beginning of what could be a wild and unpredictable year of ups and downs in the market. The “roller coaster ride predicted by Cox Automotive chief economist Jonathan Smoke is underway. Robb said the index for 1-to-10-year-old vehicles jumped by 1.2

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Despite somewhat soft finish, used-car sales better than expected in 2023

Auto Remarketing

Same goes for the used-car market, it seems. Despite a slowdown from the prior month and the heights reached in the summer, used-car sales in December capped what ended up being a pretty solid year, according to Cox Automotive. The retail used-car SAAR was an estimated 19.6 million in November and 35.2

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Used Car Sourcing and Predictable Appraisal Accuracy

AutoSuccess

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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COMMENTARY: Top 3 things used-car managers should pay attention to right now

Auto Remarketing

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.