Auto Remarketing

JULY 10, 2023

June represented the steepest month-over-month drop in wholesale vehicle prices since the early days of the COVID-19 pandemic, according to the Manheim Used Vehicle Value Index report released Monday. from June 2022, when adjusting for mix, mileage and seasonality. from May and fell 10.3% The index came in 215.1

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AutoSuccess

JULY 9, 2024

It’s no secret that dealers are facing a complex set of challenges when sourcing used car inventory. While supply constraints have been a major focus, it’s also important to consider how demand dynamics are influencing the used car market and complicating dealerships’ ability to source inventory effectively.

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Auto Remarketing

JANUARY 18, 2024

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. In fact, used-car sales (overall and retail) fell sequentially in both November and December.

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Auto Remarketing

FEBRUARY 7, 2024

While car prices were high in 2023, car buyers — especially used-car buyers — were increasingly happier with their experience, according to the latest research from Cox Automotive. New-car buyers matched the all-time high 79% set in 2020, while 73% of used-car shoppers reported being highly satisfied, up from 70% in 2022.

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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

JANUARY 7, 2024

Drivers who bought their cars used show little loyalty to their current brand when buying another vehicle — especially when they buy another used vehicle— according to the latest research by LexisNexis Risk Solutions. of new-car owners bought the same brand for their next new-car purchase, up from 49.7%

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AutoSuccess

SEPTEMBER 6, 2024

In today’s economic climate, consumers are grappling with extreme inflationary pressures affecting vehicle ownership. Auto dealers are particularly impacted, facing challenges in vehicle availability and profitability. The Impact of Inflation on Vehicle Ownership Inflation creates significant increases in the cost of vehicle ownership.

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Automotive Fleet

SEPTEMBER 15, 2023

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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Auto Remarketing

MAY 1, 2024

A common hesitancy consumers might have about buying alternative-fuel vehicles (even used ones) is that the cost is too high. However, there are deals to be had in the used-car market for alternative-fuel vehicles — even beyond government rebates — that could help dealers overcome those shopper objections.

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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. Wholesale vehicle values climbed sequentially for the second straight month and were still astronomically high in September compared to pre-COVID levels, but signs indicate that October is seeing the usual autumn slowdown.

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Auto Remarketing

DECEMBER 8, 2023

A topsy-turvy ride at the county fair or an amusement park might be fun, but when it comes to used-vehicle prices, such ups and downs can wreak havoc for dealers, auctions, remarketers, forecasters and more. from November 2022. month-over-month in November, while declining 5.8% year-over-year. year-over-year. sequentially and 7.5%

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Auto Remarketing

OCTOBER 23, 2024

In 2022, Hurricane Ian damaged upwards of 358,000 vehicles throughout several states, according to CARFAX. CARFAX estimates that the 2024 hurricane season has resulted in approximately 347,000 vehicles with flood damage so far. Plus, around 89,000 had already been swamped by smaller summer storms, CARFAX said.

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AutoSuccess

MARCH 28, 2024

We have been speaking about the persistence of margin compression throughout the pandemic years — and urged dealers in February 2022 to heed the signs and sharpen pre-COVID selling, inventory management and customer relationship skills. CarEdge Data pointed out that February inventory supply ranged from two weeks to two years.

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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

MAY 8, 2024

Affordability and availability of used electric vehicles is improving, and in some cases, so are sales. Over 4% of Carvana’s sales in the first quarter were battery-electric vehicles, more than doubling their share of sales from Q1 2023, according to a study released Wednesday by the online used-car retailer.

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Auto Remarketing

NOVEMBER 29, 2023

Average prices on 1- to 5-year-old vehicles in October were down 5.1% Moreover, the latest CARFAX Used Car Price Index shows that those declines continued “across the board” in November. Everything from economic concerns to growing competition among electric vehicles is contributing to their downward trend.” to $31,511.

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Auto Remarketing

FEBRUARY 1, 2024

While the groundhog hasn’t delivered his forecast yet, it seems spring might be on the way in the wholesale car market. Used-vehicle prices were down again as January ended, but the pace of depreciation is decelerating, according to the latest report from Black Book. In turn, that is helping to drive down the cost of used cars.”

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Auto Remarketing

JANUARY 17, 2024

1 electric vehicle choice among Carvana’s customers in 2023. Just like in 2022 and 2021. The Model 3 continued its dominance over the sector in the online used-car retailer’s annual list of its 10 best-selling EVs. Carvana said it sold 57 makes and models of EVs last year, 29% more than in 2022. “We

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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. for the second year in a row in recognition of being one of the top 50 Honda dealerships in America for their 2023 new vehicle sales performance. billion in 2022. increase over 2022. billion in 2023, up from $1.03

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Jalopnik

JUNE 13, 2024

We found out wh y Toyota’s twin-turbo V6s have been grenadeing themselves in 2022-2023 Tundras and Lexus LXs earlier this month, but there’s still no real fix for the issue. Now it seems car dealers are staying away from the once bullet-proof trucks. Read more.

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Auto Remarketing

SEPTEMBER 15, 2023

UAW members started a labor strike early Friday morning at a trio of plants that make vehicles for Ford, General Motors and Stellantis. What’s going to happen to the market, especially for used vehicles? Despite vehicle prices declining from late 2022 through 2023, price levels remain elevated.

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AutoSuccess

MARCH 19, 2024

For franchised dealers, the profitability index has declined significantly from the first half of 2022, when the index was near a record high and above 80. Beginning in the second half of 2022, the index has dropped significantly and, in Q1 2024, hit 41 – the lowest point in the survey’s history excluding Q2 2020.

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Auto Remarketing

JULY 2, 2024

Tesla reported on Tuesday that it delivered 443,956 vehicles and manufactured 410,831 units during the second quarter. That delivery tally is up from the Q1 figure (386,810 vehicles), while the manufacturing number is lower (433,371 units). In Q4, Tesla said it delivered 484,507 vehicles and manufactured 494,989 units.

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AutoSuccess

FEBRUARY 27, 2024

After a difficult sales environment in 2022, the automotive industry has experienced a noticeable recovery in 2023. These types of issues may make consumers think twice before investing in new and used vehicle models when car shopping.

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Auto Remarketing

JUNE 12, 2024

The index for the second quarter of 2024 was virtually unchanged from the previous quarter and has varied little since falling below 50 in late 2022 — but that level indicates a prevailing perception of a weak market. The outlook among independent dealers is more pessimistic than that of franchised dealers.

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Auto Remarketing

OCTOBER 6, 2023

Whether you call it a micro-lease, a subscription, or long-term rental, flexible, turnkey vehicle access without any long-term commitment now dominates personal transportation in Europe. With the average price of a new car over $48,000 now, it’s hard to argue that fact. And developments suggest that a larger presence in U.S.

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AutoSuccess

JUNE 11, 2024

The last time current market sentiment was above 50 — suggesting the market was strong, not weak — was Q2 2022. Retail vehicle sales have been fairly consistent so far this year, inventory has returned to reasonable levels, and we believe interest rates have likely hit a ceiling. auto dealers see the market as weak.

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Auto Remarketing

JANUARY 29, 2024

The transition to electric vehicles is currently generating millions of pixels. The once seemingly smooth path to an all-electric future is now strewn with some unexpected potholes, but one vehicle type in the current mix deserves some added attention. This, in turn, negatively affects the value of older EVs.

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AutoSuccess

NOVEMBER 10, 2023

Industry-leading brand Dealer Inspire is a preferred provider with nearly every OEM, and for good reason: Dealer Inspire websites and technology include integrated reviews, AI-powered chat tools, instant financing, vehicle acquisition technology, and a lightning-fast user experience, turning browsers into buyers.

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AutoSuccess

MARCH 14, 2024

“Local dealerships are central to vehicle buying, and our DOTY Awards highlight the many local retailers who take pride in their reputation, striving each and every day to provide a five-star experience for their customers,” said Jamie Oldershaw, vice president of reputation at Cars.com. increase from 2022.

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AutoSuccess

AUGUST 20, 2024

The truth is that there are very real market forces at play, which absolutely impact consumer interest, vehicle affordability, challenges desking deals and challenges running a profitable dealership. Something the automotive SAAR doesn’t capture is the part that used car sales play in your store’s profitability. The result?

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Auto Remarketing

JULY 23, 2024

Edmunds shared a wide array of electric-vehicle information on Tuesday, including insights about trade-in activities at dealerships involving a Tesla. 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.

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