How new, used vehicle prices are trending
Auto Service World
AUGUST 29, 2024
Used car prices continue to decline as availability increases and new car prices have stabilized in the Canadian automotive market, according to analysis from AutoTrader.
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The top used vehicles consumers search for
Auto Service World
MAY 16, 2024
New research from Compare the Market found that used cars from American and Japanese manufacturers are the most sought-after worldwide, outshining newer market entrants from China.
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Buying a Used Car: Mileage vs. Age, What’s More Important?
Auto Service World
JANUARY 2, 2024
When purchasing a used car, it is important to take into account both the mileage and age of the vehicle. These two factors are vital in evaluating the condition of the car. In this article, we will explore the importance … The post Buying a Used Car: Mileage vs. Age, What’s More Important?
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How a lack of off-lease vehicle is hurting the used market
Auto Service World
NOVEMBER 13, 2024
The Canadian used vehicle market is facing a significant supply shortage of younger off-lease vehicles, expecting to negatively impact the used sales market. Off-lease vehicles are a key source of product for the used car market.
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A Comprehensive Guide: What to Look Out for When Buying a Used Car
Auto Service World
MAY 4, 2024
Buying a used car can be an exciting yet daunting experience. While it offers the opportunity to find a vehicle that fits your needs and budget, it also comes with inherent risks, such as hidden mechanical issues or undisclosed problems.
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Electric Vehicles in the Used Car Market: How Car Dealers Are Adapting
Auto Service World
OCTOBER 26, 2024
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the used car market is also seeing an influx of these eco-friendly vehicles. This can result in significant savings to the wallet.
Electric Vehicles in the Used Car Market: How Car Dealers Are Adapting
Auto Service World
OCTOBER 5, 2024
The automotive industry is undergoing a generational transformation with the continued use of electric vehicles (EVs). As more consumers embrace the benefits of EVs, the used car market is also seeing an influx of these eco-friendly vehicles. This can result in significant savings to the wallet.
How Cars4us is Simplifying the Used Car Buying Process in Australia
Auto Service World
OCTOBER 19, 2024
Buying a used car has traditionally been associated with stress, long waits, and confusing paperwork, but Cars4Us is changing all that. As Australia’s leading used car platform, Cars4Us has revolutionised the process by making it easier, faster, and more transparent for buyers.
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Where to Find the Most Trusted Used Car Dealers in Brisbane
Auto Service World
OCTOBER 12, 2024
Steering through the world of second-hand vehicles can be tricky, especially when finding a dealer you can trust. This, however, can make your car buying journey more challenging. Transparency: Trustworthy dealers are typically forthcoming with information about their vehicles. So, how do you separate the wheat from the chaff?
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Used Car Buyer’s Guide: Eco-Friendly Family Cars That Won’t Break the Bank
Auto Service World
NOVEMBER 16, 2024
In today’s world, finding a car that is both eco-friendly and budget-friendly can be a challenge, especially for families. However, there are several used cars on the market that offer great fuel efficiency, low emissions, and a comfortable ride for the whole family. Why Choose an Eco-Friendly Car?
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Used-car sales pick up pace after slow start to 2024
Auto Remarketing
MARCH 11, 2024
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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Edmunds: Availability of affordable used cars grows in Q1
Auto Remarketing
MAY 15, 2024
Edmunds director of insights Ivan Drury highlighted multiple tailwinds that could help the retailing of used cars. What could be most beneficial for dealerships of all stripes is getting a boost of older, more affordable vehicles. Vehicles older than 9 years were more likely to be traded in for a used vehicle,” he continued.
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How to Wax a Car: A Guide for Students in Auto Detailing Training
Automotive Training Centre
OCTOBER 8, 2024
If you’ve ever marveled at how cars on used car lots seem to gleam effortlessly in the sunlight, it’s likely thanks to a professional car wax. Waxing is one of the most important aspects of auto detailing training , as it enhances a vehicle’s appearance and provides crucial paint protection.
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Prices plateau in more stable used-car environment
Auto Remarketing
APRIL 29, 2024
The CARFAX Used Car Index made its debut a year ago, and in an analysis recapping the latest installment , the company pinpointed three retail used-car pricing trends that have stood out. Tom Kontos, the chief economist at ADESA, has noticed a similar flattening in wholesale used-car prices.
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Late-model supply dearth evident in used-car retail market
Auto Remarketing
AUGUST 23, 2024
The slowdown in supply of later-model used vehicles is already having an impact in the retail car market, according to industry analyses released this month. But for $30,000 to $49,000 vehicles — which is the price range typical for 1- to 3-year-old used vehicles — inventory fell 15%, according to Cars Commerce.
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Used-car sales climb about 11% & move at faster clip
Auto Remarketing
APRIL 17, 2024
It was March momentum for the retail used-car market. million used vehicles, which was a 10.9% million used vehicles, compared to 4.29 million used vehicles, compared to 4.29 The year began with used-car sales by dealers falling 6.4% In February, used sales were up 4.1%
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Used-car retail prices, surprisingly, aren’t climbing
Auto Remarketing
NOVEMBER 1, 2024
You would think that used-vehicle prices would be rising right now. TO READ THE FULL STORY BECOME A MEMBER Login The post Used-car retail prices, surprisingly, aren’t climbing appeared first on Auto Remarketing.
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Q3 marked ‘return to normalcy’ for used-car retail prices
Auto Remarketing
NOVEMBER 14, 2023
When it comes to used-car retail prices, the third quarter pointed to a “return to normalcy,” a trend that was particularly evident by this metric: late-model used cars have prices that are “notably below” those of new vehicles. drop in used vehicle prices compared to the typical 0.7%
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Supply and demand shows up in rising used-car prices
Auto Remarketing
SEPTEMBER 6, 2024
And as the law of supply and demand decrees, used car prices are beginning to rise, according to CarGurus’ August 2024 Intelligence Report , released this week. The report showed used-car inventory levels down in August for the third consecutive month, dropping 2% below last year and 7.4% below August 2022 levels.
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Good news, dealers: Your used-car inventory aligns with age, price demands of consumers
Auto Remarketing
JUNE 14, 2024
Almost half of used-car shoppers say the oldest vehicle they would consider is in the 3- to 5-year-old range, according to the May Industry Insights Report from Cars Commerce. And the good news for dealers is supply has increased for some of the vehicle price band that would fit into that particular age group.
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Used-car sales beat year-ago figures, but slow down after tax season
Auto Remarketing
MAY 21, 2024
Used-car retail sales in April were ahead of prior-year figures, but the market was challenged, given the end of tax season and the hurdles of low supply, affordability and high interest rates. million used vehicles last month, which beat April 2023 by 4.8% million used vehicles last month, which beat April 2023 by 4.8%
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Retail used-car market by the numbers: Supply, demand, prices & EV metrics
Auto Remarketing
FEBRUARY 16, 2024
It was good news, bad news for the retail used-car market in January. Used-car demand fell over 7% from January 2023, but was up almost 14% from December. And both supply of and demand for used EVs is rising, and prices are softening. Used-car demand fell 7.6% Used prices dropped 2.9%
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To avoid getting pancaked by used-car price hikes, shoppers wise to stop waffling on purchase
Auto Remarketing
MAY 28, 2024
When that shopper is waffling over whether the timing is right to buy a used car, here’s a selling point a dealer can pass along to that indecisive consumer, courtesy of CARFAX. As it stands, retail prices for used vehicles have slowed significantly year-over-year: used SUVs are down 9.5%
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Cars Commerce’s new look at used-car market tells an old story
Auto Remarketing
SEPTEMBER 20, 2024
Cars Commerce’s latest look at the used-vehicle market is an old story. As in, older cars have become the dominant force driving supply and vehicle values, according to the company’s monthly Industry Insights Report for August. from last year, while cars in the $10,000-$19,000 range, averaging 7.3
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Even with disruptions from software outage, dealers lift used-car sales in June
Auto Remarketing
JULY 16, 2024
It’s possible the outage at CDK Global didn’t just limit the actual sales of used vehicles in June. The crisis may have affected the reporting of the pre-owned vehicle sales that did happen. And even with disruption, dealers increased. And even with disruption, dealers increased.
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Consumer Reports readers say these brands build the best used cars
Autoblog: Repairs
SEPTEMBER 8, 2024
A while back, one automaker ran commercials saying something like, “The best new cars make the best used cars.” Consumer Reports recently put that thinking to the test with an evaluation of the brands and models that make the best used purchases , and there are few surprises with the top brands.
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Wholesale used-car prices are declining, but there’s support to keep them from plunging
Auto Remarketing
AUGUST 16, 2024
The wholesale used-car market is still recovering from the plunge in new-vehicle sales during the pandemic, say industry experts. Auction volumes are rising steadily though.
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Used-car sales continue year-to-date rise, despite headwinds
Auto Remarketing
SEPTEMBER 20, 2023
Folks still need personal vehicles. And for many, the used-car market is the only or best option. That’s one way to explain why year-to-date used retail sales through August have climbed 4.5% — growth that has occurred despite the headwinds of high prices and steep interest rates, says Cox Automotive.
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How used-car prices are faring this month in wholesale, retail markets
Auto Remarketing
MAY 23, 2024
Wholesale vehicle prices fell nearly 12% year-over-year in April and have continued modest month-over-month declines in May, according to the latest Kontos Kommentary report from ADESA chief economist Tom Kontos. Power said in data released Thursday that used-car prices have averaged $28,470 this month. Prices were down 0.3%
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Tesla Model 3 Is the Car That Failed the Most in Germany's Mandatory Vehicle Inspection
autoevolution
NOVEMBER 16, 2023
All European countries that I am aware of try to make sure used cars are in good condition to keep on the road. The Tesla Model 3 has just started going through these inspections in Germany, and it has already earned an unpleasant title: the vehicle with the most inspection failures among 111 other models.
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PREVIEW: Wholesale volume trends featured in ‘State of the Used Car Industry’ report
Auto Remarketing
JULY 5, 2023
Editor's Note: This is a small excerpt from Cherokee Media Group's upcoming “State of the Used Car Industry” report. The prime reason vehicles are pricier to purchase in the wholesale market and will likely remain that way for years to come? The estimated available wholesale supply of vehicles up to 8 years old fell to.
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Is Your Car Ready For Winter? Simple Winterization Steps for Motor Vehicles
Auto Service World
OCTOBER 20, 2024
The cooling temperatures also mean it’s time to start getting your vehicle ready for winter. To keep running at its very best all year round, your vehicle needs a little extra attention before winter. So, what are the key steps for winterizing motor vehicles that you need to take? Has it been several months or possibly years?
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Common Red Flags in Vehicle History Reports
Auto Service World
NOVEMBER 30, 2024
When purchasing a used car, a thorough vehicle history report is essential to uncover potential issues that might not be visible during a standard inspection. These reports provide valuable insight into a vehicles past and can help you avoid costly mistakes.
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Largest month-over-month drop in Manheim used-car price index since April 2020
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. Cox Automotive, which publishes the index, said wholesale values last month were down 4.2% from May and fell 10.3% for the month.
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How to Crush Used Car Sales: Leadership, Knowledge and Control
AutoSuccess
DECEMBER 25, 2024
Earlier last week, I had a conversation with one of our dealer partners who had a record-breaking August driven entirely by used vehicle sales. With tight supply and a flat-feeling used market, I asked, how did he turn it into the driver of his record month? Heres how you as a leader can help your team crush used car sales: 1.
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PitStop: Transforming Transparency Into Vehicle Value
Motor Verso
JUNE 5, 2024
In the confusing world of buying and selling used cars, one of the most powerful commodities that you can own… Read more » The post PitStop: Transforming Transparency Into Vehicle Value appeared first on Motor Verso.
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Car Auctions Uncovered: Myths And Realities For Dealers
Auto Service World
JANUARY 26, 2024
Car auctions can seem appealing yet perplexing to used car dealers exploring inventory options. Common myths cast doubts about finding quality vehicles, avoiding fees, and winning bids amid fierce competition.
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Empowering Your Car Purchase: The Significance Of Pre-Purchase Inspections For Used Vehicles
C and C Automotive
OCTOBER 10, 2023
Buying a used car 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.
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Brand loyalty lags for used-vehicle owners
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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5 Used Cars You Should Never Buy, According to an Experienced Mechanic
autoevolution
AUGUST 4, 2024
It's no secret that virtually anyone must buy a vehicle in the US. Besides that, the car is an integral part of the American way of life. Even in big cities, public transportation can be unreliable or unsafe. If, as an adult, you don't have a driver's license, chances are even the Police might find you suspicious.
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The Importance of Accurate Mileage in Vehicle Maintenance and Resale
Auto Service World
NOVEMBER 24, 2024
Image Source Mileage is one of the most critical indicators of a vehicle’s condition. Accurately tracking and maintaining mileage ensures that a car receives proper care and retains its value over time. Understanding the Role of Mileage in Vehicle Function Mileage serves as a guide for maintaining your vehicle’s health.
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Stop Scrambling for Used Car Inventory
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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Figuring out the real purpose of your shop
Auto Service World
OCTOBER 24, 2024
You just happen to fix cars, a shop coach told a room full of shop owners, technicians and advisors. You are not at the shop to fix cars. And for this industry, it’s done by fixing vehicles. Reasons can vary from a customer buying a new vehicle to death to a family member opening a shop and the business going there.
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Accurate Appraisals: The Key to Predictable Profit in Used Car Sales
AutoSuccess
DECEMBER 1, 2024
In today’s competitive used car market, dealerships can’t afford to rely on guesswork during vehicle appraisals. Inaccurate appraisals can hurt profits before the car even hits the lot. Together, they provide a complete view of the vehicle, leading to appraisals that are accurate and profitable.
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