Auto Remarketing

OCTOBER 4, 2023

In this installment of Auto Remarketing’s 40 Under 40 franchise, we feature the 2023 honorees in the “40 Under 40: Industry” program, which is sponsored by IAA and focuses on consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space.

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Finance Used Cars Automotive Car 111

Auto Remarketing

DECEMBER 13, 2023

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a conversation with Steve Greenfield of Automotive Ventures and the industry personality all over social media who is known as CarDealershipGuy.

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Used Cars Car Media Automotive 52

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. The retail used-car SAAR was an estimated 19.6 million used retail sales.

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Used Cars Retail Car Vehicle 52

Auto Remarketing

JANUARY 10, 2024

Used-vehicle sales are expected to increase just under 1% this year, according to a forecast from Cox Automotive, with overall used volume expected to climb from 35.9 million and retail used sales (those involving a dealer) projected to climb from 19.0 million sales to 36.2 million to 19.2

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Auto Remarketing

JULY 10, 2024

The used-car retail sales environment last month didn’t improve from May, but showed year-over-year growth in June, according to reports from industry observers. million used vehicles in June, which was steady with May, but up from 1.14 million in June 2023. million used units in July. million used units in July.

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Used Cars Car Retail Vehicle 52

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. Car shoppers prefer an omnichannel approach. Still, that was down from 54% in the 2022 study.

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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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Vehicle Used Cars Automotive Car 109

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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Used Cars Car Vehicle Management 52

Auto Remarketing

FEBRUARY 10, 2025

The year started off with expectations there might be a return to normal in the used-car market. At Black Book, the Used Vehicle Retention Index came in at 146.3 The Manheim Used Vehicle Value Index, meanwhile, came in at 205.6, Well, that doesnt exactly appear to be the case one month into 2025. last month, down 1.2%

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Vehicle Retail Electric Vehicles Automotive 52

Auto Remarketing

JANUARY 24, 2025

The automotive M&A advisory firms semiannual Market Outlook Report , released this week in conjunction with the NADA Show, said its data shows American consumers have reached peak truck. The report, produced in partnership with Kaiser Associates, combining DCGs automotive research and data with Kaisers industry analysis.

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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.

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Customer Service Car Retail Automotive 52

AutoSuccess

MARCH 14, 2025

The Q1 2025 Cox Automotive Dealer Sentiment Index (CADSI) reports that the U.S. “Certainly, a theme that continues through all of the findings is that the first quarter is better than a year ago for sure,” noted Cox Automotive Chief Economist Jonathan Smoke. The current market index score increased year over year.

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Automobile Electric Vehicles Insurance Automotive 52

Auto Remarketing

APRIL 8, 2024

Wholesale vehicle prices last month were down double-digit-percentages from March 2023, but whether the close of the first quarter represented a strong spring market is up for some debate. Still, a common theme of “normalcy” certainly has emerged in the used-car market. It may depend on which industry index you’re observing.

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Vehicle Auto Market Retail Automotive 105

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. EV battery health scores that are based on make/model averages are just that…average,” said Steve Rowley, president of Cox Automotive. Visit coxautoinc.com.

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Automotive Vehicle Transportation Used Cars 52

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 2023, up from $1.03 billion in 2022.

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Car Automotive Utilities Used Cars 52

Jalopnik

SEPTEMBER 17, 2024

Considering the shambolic state of the American economy, inflation, and rampant wage stagnation, I love finding stories about affordable cars and prices dropping. million one-to-five-year-old used cars listed for sale online between August 2023… Read more.

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Car Used Cars Electric Vehicles Electric Cars 57

Auto Remarketing

SEPTEMBER 15, 2023

Through eight months of 2023, certified pre-owned vehicle sales are beating prior-year figures by 8% as the segment remains a “bright spot” in the overall used-car landscape, according to a presentation Tuesday by Cox Automotive analysts. In fact, August was the strongest month for.

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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. Good thing for the auto industry is that signs point to “less of a roller coaster in the new year,” according to Cox Automotive.

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Vehicle Automotive Used Cars Management 98

Auto Service World

FEBRUARY 15, 2025

Here’s why timing matters: Fluctuating metal prices (especially for scrap metal) regularly alter the weight-based value of your car. Recent developments continue to reshape the used car market landscape. Seasonal changes also impact junk car values. vehicle auction market reached $3.32

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Car Insurance Vehicle Electronics 130

AutoSuccess

SEPTEMBER 6, 2024

Let’s explore the factors driving inflation in the automotive market and discuss strategies for dealers to support their customers through these difficult economic conditions. According to Cox Automotive’s June 2024 Auto Market Report, the average new car loan interest rate is 10.1% for used car loans.

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Vehicle Insurance Finance Used Cars 98

Auto Remarketing

JANUARY 17, 2024

1 electric vehicle choice among Carvana’s customers in 2023. The Model 3 continued its dominance over the sector in the online used-car retailer’s annual list of its 10 best-selling EVs. We are focused on building selection across all price points to make used EVs as accessible as possible to all interested customers.”

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IT Electric Vehicles Used Cars Electricity 52

Auto Remarketing

OCTOBER 24, 2023

Used Car Week is returning to Scottsdale, Ariz., Used Car Week combines six different tracks in an effort to unite all corners of the used-car industry from the auction lanes to the dealer lot to the investment world and beyond. You just cannot replace that human connection. They are showing up, said Dunlap.

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Used Cars Media Car Education 64

AutoSuccess

AUGUST 12, 2024

with the time it takes for a car to sell having gone from 25 days in inventory at the beginning of 2023 to 72 days in inventory just over a year later. This is also noteworthy since traditional gasoline-powered vehicles, which began in 2023 at 34 days in inventory to turn, went to 52 days in inventory to turn in the same time period.

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Insurance Vehicle Alternative Fuels Fluid Check 73

Auto Remarketing

JULY 2, 2024

It’s the phenomenon when the price point for a used model is quite attractive to a buyer versus a similarly equipped new one. Let’s get into the numbers shared by Tesla as well as Cox Automotive and Edmunds. Tesla reported on Tuesday that it delivered 443,956 vehicles and manufactured 410,831 units during the second quarter.

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AutoSuccess

MARCH 19, 2024

The Cox Automotive Dealer Sentiment Index (CADSI) shows that current market sentiment improved slightly in the first quarter compared to the fourth quarter of 2023, increasing from 40 to 42, but remains well below the 50 threshold, indicating most dealers see the current market as weak. “The vehicle market in the U.S.

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Automotive Vehicle Automobile Electric Vehicles 52

AutoSuccess

MARCH 14, 2024

Car-shopping marketplace and dealer reputation site Cars.com recently unveiled the winners of its annual Dealer of the Year Awards (DOTY), presented annually to the top automotive dealers. Out of the more than 50,000 U.S. More than 195,000 dealership employees received over 1.4 million individual ratings last year, an 8.5%

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Automotive Management Retail Car 52

AutoSuccess

DECEMBER 13, 2024

The Q4 2024 Cox Automotive Dealer Sentiment Index (CADSI) reveals renewed optimism among U.S. “The recent resolution of political uncertainty following the presidential election has cleared the path for a more optimistic outlook on future auto market conditions,” said Jonathan Smoke , chief economist at Cox Automotive.

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Automobile Auto Market Retail Automotive 52

Auto Remarketing

SEPTEMBER 15, 2023

My view is inventory levels, at least for a not too extended strike, are probably adequate to keep things going on the new-car front. On the used-car front, it’s a positive because for the very same reasons that I said the chip shortage was a positive used-car values, but maybe led to exorbitantly high values for a period of time. “To

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Retail Used Cars Vehicle Car 52

AutoSuccess

NOVEMBER 10, 2023

The company is uniting its various commercial brand names under Cars Commerce and doubling down on its platform strategy to better connect the industry with a simplified and tierless technology that spans pretail, retail and post-sale activities.

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Car Retail Media Finance 52

Auto Remarketing

OCTOBER 6, 2023

I was listening to a panel discussion with some very esteemed automotive economists recently, and in discussing the prospects of electric vehicle sales growth in the United States, a shocking, though true, fact was agreed to by all. automotive retailers. A long time ago, an automotive retailer sold vehicles. First, the research.

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IT Retail Transportation Automotive 52

AutoSuccess

JUNE 11, 2024

The latest Cox Automotive Dealer Sentiment Index (CADSI) remained stable from Q1 to Q2 2024 despite dealer uncertainty in the market and economy. Cox Automotive Chief Economist Jonathan Smoke noted, “There is a lot of uncertainty in this market, leaving consumers and dealers alike unsure of the road ahead.

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Automobile Automotive Vehicle Retail 52

Auto Remarketing

AUGUST 14, 2024

In sales, supply and demand added up to charging premiums above and beyond the suggested retail price on new models, and a 20% to 30% increase in used car pricing. The national labor rate, according to NADA Year End 2020, was $120 an hour; by year-end 2023, it was $173. In service, it meant bumping up the labor rate.

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Used Cars Retail Car Management 52

Auto Remarketing

AUGUST 7, 2024

Starting with Black Book, its Used Vehicle Retention Index came in at 145.0 from July 2023. Though he was discussing prices and supply on the retail used-car market, this point from Kevin Roberts, director of industry insights and analytics at CarGurus, is perhaps applicable to what’s occurring in wholesale, as well.

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Vehicle Retail Used Cars Automotive 52

Auto Remarketing

JANUARY 29, 2024

Three-year-old EVs experienced drastic declines in average prices from January 2022 to November 2023. The overall average drop for 2020 EV models hit 29% in November 2023, unprecedented depreciation in a remarkably short period. Compared with electric vehicles, PHEVs are a less risky purchase for used-vehicle buyers.

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Electric Vehicles Electricity Vehicle Engineering 52

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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Retail Electric Vehicles Vehicle Electricity 40

BA Auto Care

JUNE 30, 2023

The new company, British American Auto Care specialized in the repair of British and American cars and became the anchor repair shop in the first Auto Park on the East Coast. The post BA Auto Care, Columbia Maryland’s Top Independent Auto Repair Shop Celebrates 45 Years of “Looking Out For You and Your Car” appeared first on BA Auto Care.

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Auto Service World

FEBRUARY 4, 2025

There hasnt been much change in where the automotive industry as a whole and the aftermarket in particular stand following the Feb. If that does happen, there will be dangers to the automotive aftermarket, several leading organizations noted. Used car prices are also expected to rise alongside new vehicles. and Canada.

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