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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Used Cars Car Retail Automobile 116

Automotive Fleet

SEPTEMBER 15, 2023

Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher. Sales into fleet could suffer in 4Q if a strike is wide and persists.

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Vehicle Used Cars Car 98

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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Used Cars Car Vehicle Management 52

Auto Remarketing

FEBRUARY 7, 2024

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. The post Used-car buyers drive rapid rise in customer satisfaction, Cox study shows appeared first on Auto Remarketing.

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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

OCTOBER 24, 2023

Used Car Week is returning to Scottsdale, Ariz., Used Car Week combines six different tracks in an effort to unite all corners of the used-car industry from the auction lanes to the dealer lot to the investment world and beyond. But no one knew yet just how big. You just cannot replace that human connection.

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Used Cars Media Education Car 64

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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Retail Used Cars Vehicle Car 52

AutoSuccess

MARCH 19, 2024

The Cox Automotive Dealer Sentiment Index (CADSI) shows that current market sentiment improved slightly in the first quarter compared to the fourth quarter of 2023, increasing from 40 to 42, but remains well below the 50 threshold, indicating most dealers see the current market as weak. “The vehicle market in the U.S.

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Auto Remarketing

AUGUST 7, 2024

Starting with Black Book, its Used Vehicle Retention Index came in at 145.0 higher than the final pre-pandemic reading March 2020, however. “In for July, which was down 1.1% month-over-month and off 15.2% from July 2023. The latter “amplified the impact on the month,” Cox said; unadjusted, prices were up 0.6% year-over-yeear. “In

Vehicle 52

Vehicle Retail Used Cars Automotive 52

Auto Remarketing

AUGUST 14, 2024

In sales, supply and demand added up to charging premiums above and beyond the suggested retail price on new models, and a 20% to 30% increase in used car pricing. The national labor rate, according to NADA Year End 2020, was $120 an hour; by year-end 2023, it was $173. In service, it meant bumping up the labor rate.

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Used Cars Retail Car Management 52

Auto Remarketing

JANUARY 29, 2024

The overall average drop for 2020 EV models hit 29% in November 2023, unprecedented depreciation in a remarkably short period. While tax credits encouraging the purchase of older EVs might seem beneficial, they might inadvertently trap used car buyers into unexpected future costs. In the meantime, PHEVs can bridge that gap.

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