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 Affordability matters more than ever to consumers, and declines in used-vehicle prices help offset higher interest rates,” Robb said. In February, used sales were up 4.1%

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Auto Remarketing

FEBRUARY 1, 2024

CARFAX report: New-car deals help fuel price drops As opposed to the wholesale market, used car retail price decreases actually accelerated in January, according to CARFAX’s latest report on that market. In turn, that is helping to drive down the cost of used cars.” Cars were down $400.

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Auto Remarketing

SEPTEMBER 20, 2023

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. Folks still need personal vehicles.

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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

OCTOBER 25, 2023

Like the Earp brothers in “Tombstone,” the used-car industry is reuniting in Arizona this year for Used Car Week. While the sunshine, balmy climate and cool desert nights remain, much has changed in the five years since Used Car Week made its way to the Grand Canyon State.

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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 are off 8.7% from December but down 9.5%

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autoevolution

FEBRUARY 13, 2024

There is always a shift in popularity in the used car market, and it happens quite often. The award for the fastest-selling used car in the Kingdom goes to Kia XCeed. This is how much it takes for the retailers to sell a ( continue reading. ) Tesla Model 3 comes in second. Only 14 days.

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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 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

OCTOBER 20, 2023

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. The top three things used-car managers should pay attention to right now are to be active buyers, reduce average inventory cost, and lean on market data for more informed decisions.

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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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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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Auto Remarketing

JULY 10, 2023

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. There were an estimated 41,341 electric vehicles sold in the retail used-car market in the second quarter, according to a late-June presentation from Cox Automotive.

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Automotive Fleet

DECEMBER 12, 2022

The used car retailer that bought the ADESA auction group this year blames high used car prices and rising interest rates for sinking consumer demand.

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AutoSuccess

MARCH 28, 2024

Margin compression affects every department of your dealership, notably used car reconditioning and used car appraisals. Used Car Reconditioning A reconditioning speed of three to five days, from acquisition to frontline readiness, is the efficiency gold standard. How do you manage margin compression here?

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Automotive Fleet

JANUARY 17, 2023

The financial risks and setbacks are piling up for the online used car retailer that gobbled up ADESA auctions last year in a deal wracked with massive debt.

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Auto Remarketing

MAY 15, 2024

Edmunds director of insights Ivan Drury highlighted multiple tailwinds that could help the retailing of used cars. The return of holdout buyers should help bolster the supply of more affordable, older used vehicles. The average trade-in age for used vehicles increased to 9.4 What does it mean for used-car sales?

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Auto Remarketing

MAY 8, 2024

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. And while in the overall used-car market, BEVs commanded less than 1% share of sales for full-year 2023, 7.6%

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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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AutoSuccess

JANUARY 18, 2024

Whether it’s the appraisal processes, used car reconditioning or digital retailing — all of which support dealership sales and service — GMs want to know these functions are dialed in and that they just work.” “The Achieving consistency with trade appraisals has long proved difficult.

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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. 1 most recognized marketplace brand.²

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Auto Remarketing

APRIL 8, 2024

Still, a common theme of “normalcy” certainly has emerged in the used-car market. On Monday, Black Book released its Used Vehicle Retention Index, which fell 13.6% At Cox Automotive, the company’s Manheim Used Vehicle Value Index for March (203.1) It may depend on which industry index you’re observing. was down 14.7%

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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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Auto Remarketing

SEPTEMBER 18, 2023

Look at today’s used-vehicle retail market from the consumer’s perspective: The news has been telling the public they’ve been paying inflated prices for used cars for the last three years. For these types of vehicles, retail pricing is lowered to achieve market average retail. The latest news?

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Auto Remarketing

JANUARY 16, 2024

Those ready for immediate retail 2. Moreover, the conventional channels of retail or auction, while effective for certain vehicle categories, may not always represent the best route for every vehicle. Traditionally, these vehicles are categorized broadly into three streams: 1. Those needing minor refurbishments, and 3.

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Auto Remarketing

FEBRUARY 1, 2024

There are some core principles that can help dealers identify the fastest-selling, most profitable used cars with the highest return on investment. What sells well new sells well Retail price the car for 50% of what it sold for when it was new. Let’s remind ourselves of what they are. They’re typically 4-6 years old.

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Auto Remarketing

DECEMBER 13, 2023

I mean come on, what else can they throw at us? The used-car market is definitely showing signs of declining prices. The amount of new-car inventory availability is improving and with it, our opportunity to make some choices: — Do we take what we have learned during the COVID 19 pandemic?

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AutoSuccess

APRIL 29, 2024

The software suite includes a user-friendly dashboard that offers analysis and reporting across key dealership areas including digital marketing, inventory retailing, lead handling, sales performance and finance performance.

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Auto Remarketing

JANUARY 29, 2024

On the retail side of the used market, Black Book anticipates that continued demand slowdown will drive prices down in an attempt to turn inventory more quickly. This is likely to change the age distribution of used-car supply. On the new-car side, Black Book is anticipating roughly 15.8

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Auto Remarketing

APRIL 10, 2024

The supply of new cars is up, and in many cases back to pre-pandemic levels. Meanwhile, used-car values are trending down. The increase in new-car incentives and lower selling prices will put additional downward pressure on used vehicles for the near term. Price them to the right retail amount from Day 1.

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Auto Remarketing

NOVEMBER 2, 2023

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.

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AutoSuccess

FEBRUARY 27, 2024

These retail groups indicated that interest rates are a major factor, and F&I managers continue to see affordability at the consumer level as an ongoing issue. Additionally, as a growing number of drivers select electric vehicles, they will rely on their dealerships to guide them with the right protection products geared toward EVs.

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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. Out of the more than 50,000 U.S.

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AutoSuccess

MARCH 19, 2024

” The survey also asks dealers to rate new-car sales and used-car sales separately, along with various key drivers, including consumer traffic.

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AutoSuccess

FEBRUARY 15, 2024

This profit per vehicle strategy couldn’t have come at a better time,” said Jared Ricart, president of the Ricart Automotive Group, whose used car operation sells 600 to 800 used cars monthly. Increase profits from parts, customer-pay services, and used cars. Eliminate chargebacks to sales.

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Auto Remarketing

OCTOBER 6, 2023

Note: whether you use the term “subscriptions,” “micro-leases,” or “long-term rentals” it all represents the same thing (“a rose by any other name…”), flexible, turnkey, convenient personal transportation for a single vehicle “owner,” without any long-term financial commitment. automotive retailers. First, the research.

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