Auto Remarketing

MAY 15, 2024

Edmunds director of insights Ivan Drury highlighted multiple tailwinds that could help the retailing of used cars. What could be most beneficial for dealerships of all stripes is getting a boost of older, more affordable vehicles. Vehicles older than 9 years were more likely to be traded in for a used vehicle,” he continued.

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Used Cars Car Retail Vehicle 105

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

Auto Remarketing

JULY 10, 2023

June represented the steepest month-over-month drop in wholesale vehicle prices since the early days of the COVID-19 pandemic, according to the Manheim Used Vehicle Value Index report released Monday. from June 2022, when adjusting for mix, mileage and seasonality. from May and fell 10.3% The index came in 215.1

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Used Cars Car Automotive Vehicle 98

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

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Used Cars Car Vehicle Automotive Marketing 97

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

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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Vehicle Used Cars Car 98

AutoSuccess

SEPTEMBER 6, 2024

In today’s economic climate, consumers are grappling with extreme inflationary pressures affecting vehicle ownership. Auto dealers are particularly impacted, facing challenges in vehicle availability and profitability. The Impact of Inflation on Vehicle Ownership Inflation creates significant increases in the cost of vehicle ownership.

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Vehicle Insurance Finance Car 98

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% New car prices fell 0.2%

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Used Cars Car Finance Vehicle 52

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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Used Cars Car Finance Car Dealership 59

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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Banking Vehicle Alternative Fuels Electric Vehicles 95

Auto Remarketing

DECEMBER 8, 2023

A topsy-turvy ride at the county fair or an amusement park might be fun, but when it comes to used-vehicle prices, such ups and downs can wreak havoc for dealers, auctions, remarketers, forecasters and more. from November 2022. month-over-month in November, while declining 5.8% year-over-year. year-over-year. sequentially and 7.5%

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Vehicle Automotive Used Cars Management 98

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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Used Cars Retail Car Vehicle 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. 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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Used Cars Car Vehicle Automobile 52

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

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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Retail Used Cars Vehicle Trucking 52

Auto Remarketing

OCTOBER 23, 2024

In 2022, Hurricane Ian damaged upwards of 358,000 vehicles throughout several states, according to CARFAX. CARFAX estimates that the 2024 hurricane season has resulted in approximately 347,000 vehicles with flood damage so far. Plus, around 89,000 had already been swamped by smaller summer storms, CARFAX said.

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Mechanic Used Cars Vehicle Electricity 110

Auto Remarketing

APRIL 12, 2024

At the same time, used-car prices plummeted 5.1% March’s data shows the new- and used-car markets are adjusting,” the Cars Commerce analysis said, “with new-car prices continuing to drop and used-car prices hitting their lowest point in years, signaling a move toward more typical pricing.”

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Car Used Cars Electric Vehicles Vehicle 111

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. CarEdge Data pointed out that February inventory supply ranged from two weeks to two years.

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Used Cars Management Retail Vehicle 93

Auto Remarketing

NOVEMBER 29, 2023

Average prices on 1- to 5-year-old vehicles in October were down 5.1% Moreover, the latest CARFAX Used Car Price Index shows that those declines continued “across the board” in November. Everything from economic concerns to growing competition among electric vehicles is contributing to their downward trend.” to $31,511.

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Used Cars Electric Vehicles Electricity Vehicle 105

Auto Remarketing

OCTOBER 24, 2023

Like the number of teams still alive in the MLB playoffs, used-car prices are dropping in October. Wholesale vehicle values climbed sequentially for the second straight month and were still astronomically high in September compared to pre-COVID levels, but signs indicate that October is seeing the usual autumn slowdown.

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Vehicle Used Cars Trucking Car 52

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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Electric Vehicles Used Cars Vehicle Retail 98

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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Retail Used Cars Trucking Car 98

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. New-Vehicle Sales Index Unchanged from Q4, Higher Year Over Year Franchised automobile dealers reported a good sales environment during the survey.

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Automobile Electric Vehicles Insurance Automotive 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. based on 2024 new vehicle sales volume. Car Pros Honda El Monte earned the distinction of being a top Honda dealership in the U.S. 40 in 2022.

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Car Retail Customer Service Automotive 52

Auto Remarketing

JANUARY 17, 2024

1 electric vehicle choice among Carvana’s customers in 2023. 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

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IT Electric Vehicles Used Cars Electricity 52

AutoSuccess

APRIL 5, 2024

Car Pros Honda El Monte has received the 2023 Honda Masters Circle award from American Honda Motor Company Inc. for the second year in a row in recognition of being one of the top 50 Honda dealerships in America for their 2023 new vehicle sales performance. billion in 2022. increase over 2022. billion in 2023, up from $1.03

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Car Automotive Utilities Used Cars 52

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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Engineering Trucking Car Used Cars 62

Auto Remarketing

SEPTEMBER 15, 2023

UAW members started a labor strike early Friday morning at a trio of plants that make vehicles for Ford, General Motors and Stellantis. What’s going to happen to the market, especially for used vehicles? Despite vehicle prices declining from late 2022 through 2023, price levels remain elevated.

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Retail Used Cars Vehicle Car 52

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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Automotive Vehicle Automobile Electric Vehicles 52

Auto Remarketing

JULY 2, 2024

Tesla reported on Tuesday that it delivered 443,956 vehicles and manufactured 410,831 units during the second quarter. That delivery tally is up from the Q1 figure (386,810 vehicles), while the manufacturing number is lower (433,371 units). In Q4, Tesla said it delivered 484,507 vehicles and manufactured 494,989 units.

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Manufacturing Vehicle Retail Automotive 52

Auto Remarketing

OCTOBER 6, 2023

Whether you call it a micro-lease, a subscription, or long-term rental, flexible, turnkey vehicle access without any long-term commitment now dominates personal transportation in Europe. With the average price of a new car over $48,000 now, it’s hard to argue that fact. And developments suggest that a larger presence in U.S.

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IT Retail Transportation Automotive 52

AutoSuccess

FEBRUARY 27, 2024

After a difficult sales environment in 2022, the automotive industry has experienced a noticeable recovery in 2023. These types of issues may make consumers think twice before investing in new and used vehicle models when car shopping.

Retail 40

Retail Electric Vehicles Vehicle Electricity 40

Auto Remarketing

JUNE 12, 2024

The index for the second quarter of 2024 was virtually unchanged from the previous quarter and has varied little since falling below 50 in late 2022 — but that level indicates a prevailing perception of a weak market. The outlook among independent dealers is more pessimistic than that of franchised dealers.

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Automotive Automotive Marketing Auto Market Retail 52

AutoSuccess

DECEMBER 13, 2024

“We saw a surge in the outlook, technically the largest surge we have had quarterly in the history of the data, and it gets us back to Q2 2022 levels,” noted Smoke. Both franchised and independent dealers noted higher profitability compared to Q3, but the index score remains well below levels seen in 2021 and 2022.

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Automobile Auto Market Retail Automotive 52

AutoSuccess

NOVEMBER 10, 2023

Industry-leading brand Dealer Inspire is a preferred provider with nearly every OEM, and for good reason: Dealer Inspire websites and technology include integrated reviews, AI-powered chat tools, instant financing, vehicle acquisition technology, and a lightning-fast user experience, turning browsers into buyers.

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Car Retail Media Finance 52

Auto Remarketing

JANUARY 29, 2024

The transition to electric vehicles is currently generating millions of pixels. The once seemingly smooth path to an all-electric future is now strewn with some unexpected potholes, but one vehicle type in the current mix deserves some added attention. This, in turn, negatively affects the value of older EVs.

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Electric Vehicles Electricity Vehicle Electric Cars 52

AutoSuccess

JUNE 11, 2024

The last time current market sentiment was above 50 — suggesting the market was strong, not weak — was Q2 2022. Retail vehicle sales have been fairly consistent so far this year, inventory has returned to reasonable levels, and we believe interest rates have likely hit a ceiling. auto dealers see the market as weak.

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Automobile Automotive Vehicle Retail 52