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How Automotive Technology Retail Companies Are Testing Generative AI

Automotive Training Centre

This technology allows machines to produce content and solutions traditionally created by humans, significantly impacting automotive technology retail companies, including Tekion, TrueCar, Cox Automotive, and Car Now. Automotive companies are using AI algorithms to generate new vehicle designs and prototypes.

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Used Retail Vehicle Sales Increase in March

Automotive Fleet

million used vehicles sold at retail are up 11% year over year compared to March 2023 and the highest volume since March 2022.

Retail 52
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Used EV prices fall 32% at retail, 15% in wholesale

Auto Remarketing

The “dramatic” declines in used electric vehicles last month no doubt caused some head-scratching for those in the business of remarketing or retailing these cars, but the near 32% drop may open up some opportunities for consumers and dealers alike.

Retail 98
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COMMENTARY: The new dynamics of car retailing, navigating the post-pandemic shift

Auto Remarketing

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.

Retail 98
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Dealers finding positive impact from digital retailing tools, study shows

Auto Remarketing

An overwhelming percentage of car dealers who use digital retailing tools are reporting encouraging results, according to the latest research by Cox Automotive. The top benefit of digital retailing, according to both dealers and customers, is the time saved, cited by 60% of dealers and 93% of shoppers.

Retail 111
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Price declines slowing in wholesale market, accelerating in retail

Auto Remarketing

Used-vehicle prices were down again as January ended, but the pace of depreciation is decelerating, according to the latest report from Black Book. The high end of each category’s price range has also fallen by at least $1,000 as dealers act to move the most expensive used vehicles,” the report said. Cars were down $400.

Retail 98
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Q3 marked ‘return to normalcy’ for used-car retail prices

Auto Remarketing

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% decrease observed from 2015-2019.”

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