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automobile dealers’ view of current market conditions increased from an index score of 42 in Q4 2024 to 44 in Q1 2025. Franchised automobile dealers had a positive outlook with a score of 54, seeing the market as strong. automobile dealers were feeling pretty good about the market,” added Smoke.
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.
However, we now have another study that proves these cars are the best shot anyone has at losing money with automobiles. Conducted by iSeeCars, it analyzed the prices of "800,000 5-year-old usedcars sold from March 2024 to February 2025 to determine 5-year depreciation rates." continue reading. )
It’s no secret that dealers are facing a complex set of challenges when sourcing usedcar inventory. While supply constraints have been a major focus, it’s also important to consider how demand dynamics are influencing the usedcar market and complicating dealerships’ ability to source inventory effectively.
The car is pretty responsive, the steering is very light, it’s very easy to steer, and it’s got power brakes. It will end when the world no longer usescars. The rivalry between Ford and Chevrolet for domestic supremacy started long ago. continue reading. )
” The survey also asks dealers to rate new-car sales and used-car sales separately, along with various key drivers, including consumer traffic. Responses are used to calculate an index by which any number over 50 indicates that more dealers view conditions as strong rather than weak. Visit coxautoinc.com.
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.
People have found some clever uses for cars over the years, like roving power supplies , homes on wheels and even sophisticated ice cream makers. Now, an ingenious murder of crows has found a new use for the humble automobile: rolling nut crackers. Read more.
Buying a usedcar can be an exciting endeavor, but it also involves careful consideration and due diligence. These inspections offer a comprehensive evaluation of a used vehicle’s condition, providing valuable insights into its mechanical health and overall reliability.
Industry Trends in 2023 While the usedcar boom that sent prices sky high may be winding down, there is still a large demand for quality used vehicles. While EVs are sparking more excitement, long wait lists for new vehicles are still growing, so the opportunity to sell used EVs is enormous. What do customers want?
Before spending a few minutes with Cherokee Media Group to elaborate about the used-car market , National Automobile Dealers Association chief economist Patrick Manzi gave a press conference on the NADA Live Stage.
So in this article, we will explore how AI tools can help used-car dealers stay ahead of the trends with advanced sales data analyses, in addition to investigating real-world examples of AI as it has been applied to provide dynamic, more effective prices. But how does this benefit marketers in the auto industry?
Decades of Experience: ABCoA has been providing dealership management software to automobile dealers since 1983. ABCoA’s deep understanding of the industry and DMS needs can help new and usedcar dealers during this difficult time.
automobile dealers. Franchised dealers, who sell both new and usedautomobiles, are more optimistic than used-only independent dealers, with an index score of 50. ” The survey also asks dealers to rate new-car sales and used-car sales separately, along with various key drivers, including consumer traffic.
Higher Resale Value If you ever decide to sell your Saab, then a well-maintained car will be easier to sell and will be able to command a better price. Consumers are willing to spend more of their money on a usedcar that has been well-maintained.
Higher Resale Value If you ever decide to sell your Saab, then a well-maintained car will be easier to sell and will be able to command a better price. Consumers are willing to spend more of their money on a usedcar that has been well-maintained.
auto industry has largely recovered from the supply chain issues that drove the cost of new cars through the roof and brought the price of usedcars up along with it. Not all new cars are selling below MSRP now, but enough are that you can generally expect to find a deal if you’re willing to shop… Read more.
The market outlook index, which queries dealers about expectations for the vehicle market three months from now, typically enjoys a ‘spring bounce’ as automobile dealers look to the spring selling season. automobile dealers. Vehicle Sales Environment Improves from Q4 But Remains Below Year-Ago Levels According to U.S.
Educated and trained as an automobile technician in England, Brian and his wife Jennifer dreamed of traveling to the United States. With drivers keeping their cars longer and longer, the importance of independent car repair shops like BA Auto Care has grown dramatically in the post-COVID era of rising new and usedcar prices. “We
No one likes to feel like they’re being swindled, and everything that comes out of a car salesperson’s mouth sounds like a swindle. Dealerships have been too shady for too long , and there are few people left in the United States who trust them. Even the directions to the bathroom. Read more.
The Car Allowance Rebate System, known colloquially as Cash For Clunkers , was largely intended to stimulate the economy in a post-recession America, though the Obama administration billed it as a way to reduce automobile emissions and increase traffic safety by pushing consumers to trade their old gas-guzzlers for new Read more.
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