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

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 The return of holdout buyers should help bolster the supply of more affordable, older used vehicles.

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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. from last year, while cars in the $10,000-$19,000 range, averaging 7.3 from August 2022.

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autoevolution

MARCH 10, 2025

This 2022 Ford F-150 has received the Shelby Super Snake treatment, which means that its 5.0L Pricing for these trucks can vary a lot on the used car market. V8 is now supercharged to the tune of 775 horsepower. The truck sold at auction just last week for a sweet $79,500 with 4,800 miles on the clock.

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Auto Remarketing

JULY 10, 2023

from June 2022, when adjusting for mix, mileage and seasonality. TO READ THE FULL STORY BECOME A MEMBER Login The post Largest month-over-month drop in Manheim used-car price index since April 2020 appeared first on Auto Remarketing. Cox Automotive, which publishes the index, said wholesale values last month were down 4.2%

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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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Jalopnik

JANUARY 29, 2024

We’ve known for a while that things weren’t going great for the online used car dealer Vroom. Back in 2022, it was sued by the state of Texas for its shady sales practices and later that year managed to lose more than $50 million in a single quarter.

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Used Cars Car Management IT 62

Autoblog: Repairs

AUGUST 14, 2024

Vehicle prices continued a downward trend in July — the most of any major category in the Consumer Price Index (CPI) over the last year as the car market continues its return to "normal" following pandemic-fueled inflation. Used car prices fell 2.3% New car prices fell 0.2% Prices for used cars and trucks are still 16.9%

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Auto Remarketing

APRIL 12, 2024

When tax season arrives, dealers know customers are coming — and they need cars to sell them. Not surprisingly, then, the monthly Cars Commerce Industry Insights Report for March showed a big surge in inventory. At the same time, used-car prices plummeted 5.1% Cars under $10,000 were up 19.1%. That was also 4.7%

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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. In fact, used-car sales (overall and retail) fell sequentially in both November and December.

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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. New-car buyers matched the all-time high 79% set in 2020, while 73% of used-car shoppers reported being highly satisfied, up from 70% in 2022.

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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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Used Cars Car Vehicle Management 52

AutoSuccess

MAY 6, 2025

Car Pros Automotive Group announced that Car Pros Honda El Monte earned the Sales Circle of Excellence Award from American Honda Motor Company for the third year in a row. Car Pros Honda El Monte earned the distinction of being a top Honda dealership in the U.S. 40 in 2022. based on 2024 new vehicle sales volume.

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Automotive Fleet

SEPTEMBER 15, 2023

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

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autoevolution

MAY 22, 2024

Prices for the Lucid Air electric sedan are in freefall on the used car market, and while it shouldn’t reflect poorly on the model itself, it goes to show just where we are as an industry in terms of second-hand EVs. It’s a reality that both private parties and dealerships should accept.

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Auto Remarketing

OCTOBER 23, 2024

In 2022, Hurricane Ian damaged upwards of 358,000 vehicles throughout several states, according to CARFAX. Those interested in buying a used car can check carfax.com/flood to access the CARFAX Flood Check tool. The company also urged car buyers to have a trusted mechanic inspect the vehicle and also take it for a test drive.

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Auto Remarketing

MAY 28, 2025

Perhaps you could make an argument that the used-car market is almost as healthy as it can be for both auctions and dealerships based on two trends highlighted by Black Book in its latest installment of Market Insights. Its also the first time its been this low since this same juncture of the calendar in 2022.

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AutoSuccess

MARCH 28, 2024

We have been speaking about the persistence of margin compression throughout the pandemic years — and urged dealers in February 2022 to heed the signs and sharpen pre-COVID selling, inventory management and customer relationship skills. Buy or trade knowing these cars’ reconditioning costs, sale histories, aging data and sale-price points.

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Used Cars Management Retail Vehicle 93

Auto Remarketing

NOVEMBER 29, 2023

Moreover, the latest CARFAX Used Car Price Index shows that those declines continued “across the board” in November. But the price drops for used electric vehicles (and to a lesser extent, hybrids) have been far more extensive, approaching 34%, the iSeeCars data shows. For hybrids, used prices fell 9.6% to $31,511.

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Used Cars Electric Vehicles Electricity Vehicle 105

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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Vehicle Automotive Used Cars Car 109

autoevolution

APRIL 1, 2024

The used car market, as we know it, is coming to an end. An Aston Martin Valkyrie hypercar is for sale in the Netherlands. Potential buyers must know that the seller prefers to receive bitcoins. The super-exclusive Valkyrie, which is now for sale, is a left-hand-drive hyp. continue reading. )

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Used Cars Car IT 52

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

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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AutoSuccess

APRIL 5, 2024

Car Pros Honda El Monte has received the 2023 Honda Masters Circle award from American Honda Motor Company Inc. The dealership is part of the Car Pros Automotive Group, one of the fastest growing automotive groups in the United States. billion in 2022. The dealership ranked #24 in the nation in 2023, up from #40 in 2022.

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AutoSuccess

SEPTEMBER 6, 2024

cars or roughly two vehicles, according to Money Geek. This means the average household spends over $2,000 per month to own and maintain their cars. Purchase Prices : The Manheim Used Vehicle Value Index highlights that used vehicle prices have skyrocketed due to supply constraints and increased demand.

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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. Cars.com Inc. announced a new enterprise brand name in a recent press release.

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Jalopnik

JUNE 13, 2024

We found out wh y Toyota’s twin-turbo V6s have been grenadeing themselves in 2022-2023 Tundras and Lexus LXs earlier this month, but there’s still no real fix for the issue. Now it seems car dealers are staying away from the once bullet-proof trucks. Read more.

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Auto Remarketing

DECEMBER 8, 2023

The company’s Manheim Used Vehicle Value Index released Thursday shows that wholesale values (when adjusting for mix, mileage and seasonality) fell 2.1% from November 2022. Looking at another measure of wholesale vehicle prices released Thursday, Black Book’s Used Vehicle Retention Index for November came in at 153.45, down 4.7%

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Auto Remarketing

MAY 1, 2024

A common hesitancy consumers might have about buying alternative-fuel vehicles (even used ones) is that the cost is too high. However, there are deals to be had in the used-car market for alternative-fuel vehicles — even beyond government rebates — that could help dealers overcome those shopper objections.

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Auto Remarketing

JANUARY 17, 2024

Just like in 2022 and 2021. The Model 3 continued its dominance over the sector in the online used-car retailer’s annual list of its 10 best-selling EVs. Carvana said it sold 57 makes and models of EVs last year, 29% more than in 2022. “We The Tesla Model 3 was the No. That said, the gap is narrowing.

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AutoSuccess

MARCH 14, 2025

” Market Outlook Reaches Highest Score Since 2022 The market outlook index improved in Q1, rising for the second consecutive quarter to 58, its highest score since 2022. ” 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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Auto Remarketing

OCTOBER 24, 2023

Like the number of teams still alive in the MLB playoffs, used-car prices are dropping in October. In a similar analysis, Cox Automotive reported earlier this month that its Manheim Used Vehicle Value Index for the first half of October came in at 211.0, decline compared to the full month of October 2022. year-over-year.

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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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AutoSuccess

MARCH 14, 2024

Car-shopping marketplace and dealer reputation site Cars.com recently unveiled the winners of its annual Dealer of the Year Awards (DOTY), presented annually to the top automotive dealers. increase from 2022. increase from 2022. increase from 2022. increase from 2022. Out of the more than 50,000 U.S.

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AutoSuccess

MARCH 19, 2024

For franchised dealers, the profitability index has declined significantly from the first half of 2022, when the index was near a record high and above 80. Beginning in the second half of 2022, the index has dropped significantly and, in Q1 2024, hit 41 – the lowest point in the survey’s history excluding Q2 2020.

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Auto Remarketing

JUNE 12, 2024

In the face of uncertainty in the automotive market, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. Of course, that’s not necessarily a good thing. Independent dealers’ score fell from 42 to 40.

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Auto Remarketing

OCTOBER 6, 2023

New-car purchases now were only for the affluent, and that middle class folks are priced out of the market for new vehicles — not just for EVs, all new vehicles. With the average price of a new car over $48,000 now, it’s hard to argue that fact. Third, look at other areas of the world.

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