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-car sales by dealers, compared to 5.63

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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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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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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 Cars Car Retail Electric Vehicles 105

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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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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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. That trend has also driven down retail prices, which have dropped 4.9%

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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

OCTOBER 25, 2024

Power, explained why this month has been a tricky one for used-car managers and leasing specialists at franchised dealerships. Power shared on Thursday associated with the used-car department. So far in October, King reported average used-vehicle retail prices are coming in at $28,472, which is down $669 or 2.3%

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Auto Remarketing

JUNE 18, 2024

Used electric vehicles are seeing their prices erode, both on a retail and wholesale basis. And not only did average retail prices of used EVs fall nearly 30% last month, but these vehicles have also become increasingly cheaper than used internal-combustion-engine vehicles. and reached 7.4%

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Auto Remarketing

MARCH 18, 2024

As the world gradually emerges from the shadows of COVID-19, a significant shift in the car retail landscape is becoming increasingly apparent, particularly in the electric vehicle sector. Dealerships that embrace this change are poised to thrive in the new era of automotive retailing.

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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. Both overall and retail numbers, however, were down month-over-month.

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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 used units in July. ZeroSum said used-vehicle supply was at 1.91

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Auto Remarketing

FEBRUARY 27, 2024

Used-vehicle prices are showing a “typical seasonal rise” on a month-over month basis in the wholesale market but are down double-digits from early 2023. Meantime, used-vehicle prices on the retail side of the market “are in retreat” from peaks reached in May. Car prices were up 4.4% Car prices are off 8.7%

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Auto Remarketing

JULY 30, 2024

Perhaps it’s jumping to conclusions, but the only segment in Black Book’s tracking to squeeze out a wholesale value uptick last week might relate to vehicles in position to solve one of the pressing current challenges to get cars financed and retailed.

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Vehicle Retail Finance Used Cars 105

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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Jalopnik

SEPTEMBER 12, 2024

When a prospective buyer of a used vehicle from CarMax doesn’t qualify for financing, they’ll likely be offered a loan from Exeter Finance as a lender of last resort. Through its partnership with the country’s largest used car retailer, Exeter positioned itself at the pipeline of sub-prime borrowers, according to a… Read more.

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Finance Vehicle Retail Used Cars 63

AutoSuccess

SEPTEMBER 28, 2024

Private-party vehicle acquisition is one of the most talked-about trends in retail automotive. Pros: o Complete Control: You pick the cars and the price. o Unique Inventory: You can’t find these personally touched vehicles anywhere else. You aren’t at the mercy of someone or something else. It’s really that simple.

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Used Cars Car Management Retail 52

AutoSuccess

OCTOBER 18, 2024

As we inch closer to the end of 2024, auto dealers are seeing several shifts and developments that will shape their vehicle inventory levels and marketing strategies through the remainder of the year. Inventory Levels Stabilizing According to recent data, total vehicle inventory stood at 2.79

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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

SEPTEMBER 27, 2024

As we inch closer to the end of 2024, auto dealers are seeing several shifts and developments that will shape their vehicle inventory levels and marketing strategies through the remainder of the year. Inventory levels stabilizing According to recent data, total vehicle inventory stood at 2.79

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Auto Remarketing

OCTOBER 20, 2023

Several market dynamics are currently in motion creating an opportune moment to buy wholesale used vehicles. 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. However, retail values are up approximately 10% year-over-year.

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Auto Remarketing

OCTOBER 6, 2023

The wholesale used-vehicle market ended the third quarter with some stability, but the duration of that steadiness likely hinges on how the United Auto Workers strike unfolds. As one analyst put it, the used-car market has reached a “crossroads.” Black Book’s Used Vehicle Retention Index for September came in at 159.3,

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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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Auto Remarketing

OCTOBER 29, 2024

Here’s more evidence the used-car market is a complex place nowadays. The entire report that offers insights into the current state of the automotive retail market for both new and used vehicles, inventory risk, vehicle sales, consumer preferences and markdown/pricing strategies can be downloaded here.

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AutoSuccess

JULY 26, 2024

Carryover inventory—vehicles that remain unsold for extended periods—ties up capital, incurs holding costs and often requires discounting and markdowns to clear off the lot. Understanding Inventory Risk Management in the Data Age Car dealers today have a wealth of data to help sell vehicles from their lot. million and 1.2

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Auto Remarketing

AUGUST 7, 2024

The movement in wholesale vehicle values for July varied from index to index, but in general, prices are down from a year ago, though they remain elevated from pre-pandemic levels. Starting with Black Book, its Used Vehicle Retention Index came in at 145.0 for July, which was down 1.1% month-over-month and off 15.2% and fell 7.6%

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Auto Remarketing

JULY 16, 2024

The practice of markdowns has long been a cornerstone of retail strategy across various industries, and the auto sector is no exception. To navigate this complex landscape, it’s essential for auto dealers to better understand the nuances of vehicle markdowns and debunk the prevalent myths that surround them.

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Vehicle Retail Management Insurance 59

Auto Remarketing

NOVEMBER 28, 2023

Two of the experts at Experian Automotive — John Howard and Kirsten Von Busch — spent part of their time at Used Car Week discussing electric vehicles for this episode of the Auto Remarketing Podcast. Howard and Von Busch recapped what the industry has learned about EV retailing and more this year.

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Auto Remarketing

JULY 1, 2024

If a shopper who arrives at your dealership is on the hunt for an inexpensive used vehicle that can seat the whole family, here’s a selling point: Now might be the time to buy. While luxury cars were also down $200 from May, other vehicle categories saw little (hybrids/EVs, down $40) to no change (cars) month-over-month.

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Auto Remarketing

JULY 10, 2023

Perhaps it’s the lower price point, more vehicle options available, increased consumer comfort level or some combination of factors. But while still just a sliver of the overall used-car market, sales of pre-owned electric vehicles are making marked improvements for dealers and other retailers.

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AutoSuccess

FEBRUARY 7, 2024

Using BlueDriver Max, dealers will be able to plug the device into vehicles at auction, private trade-in and other acquisition touchpoints to quickly read diagnostic codes for an accurate understanding of the condition of the vehicle.

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Vehicle Retail Management Automotive 52

AutoSuccess

MARCH 28, 2024

A 2022 Bureau of Labor Statistics report reminds us that from the 2007 to 2009 recession — and through the onset of the pandemic in 2019 — “car and truck dealerships faced an economic shock and compressed profit margins on new vehicles.” CarEdge Data pointed out that February inventory supply ranged from two weeks to two years.

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Auto Remarketing

OCTOBER 22, 2024

Power showed the numbers crunch unfolding that might again be pitting the used-car department versus the new-car division. And Cox Automotive reported last week that overall new-vehicle days’ supply stood at 81 at the start of October, just one day more than the 80 days analysts noticed October 2019.

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AutoSuccess

FEBRUARY 19, 2024

By utilizing AI models trained specifically for automotive retail challenges, FrogData is setting a new standard in how dealerships leverage technology for business growth, the company said. Optimizing Sales Processes: Intelligent personalized customer engagement for each lead, improving conversion and enhanced digital retailing.

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AutoSuccess

JANUARY 18, 2024

“GMs just want things to work without having to be pulled in when something comes off the rails or gets slammed by unexpected events,” said McGinn, whose five books have chronicled the revolution of modern vehicle reconditioning. ASPIRE to Predictable” will be released at NADA ’24, Feb. The objective is to eliminate chargebacks to sales.

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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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