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The usedcar market is surging in both value and volume. The automotive aftermarket is positioned to benefit significantlyand among those who understand it best is Steve Tucker, president of Automotive Parts Associates (APA). That sweet spot Tucker refers to is the prime range for aftermarket demand.
But the marketing and data software firm understands why cars have been flying out of dealerships for the past month. On a monthly basis, the State of the Dealer report strives to answer the question all automotive dealers are wondering: Is it going to be harder or easier to sell a car in the next 30 days? the report began.
The Canadian used vehicle market is facing a significant supply shortage of younger off-lease vehicles, expecting to negatively impact the used sales market. This trend is expected to persist through 2027, according to DesRosiers Automotive Consultants. Off-lease vehicles are a key source of product for the usedcar market.
For anyone passionate about cars and interested in enhancing their appeal and value, auto detailing is an art form with the potential to increase a vehicles value significantly. Potential buyers often notice A cars exterior, and restoring it to a like-new condition can significantly impact its perceived value.
Usedcar prices are rising. For most usedcars, anyway. million usedcars showed the Model S one of four Teslas on the list lost an average of 17.2% million usedcars showed the Model S one of four Teslas on the list lost an average of 17.2% The analysis of the retail prices of 1.4
Electric vehicles are changing how we think about cars, including how they are maintained and detailed. At ATC Cambridge, students gain hands-on experience working on various vehicles, preparing them to handle the unique needs of electric cars. Are you ready to start automotive school ? Lets check them out!
In today’s competitive usedcar market, dealerships can’t afford to rely on guesswork during vehicle appraisals. Inaccurate appraisals can hurt profits before the car even hits the lot. In the usedcar market, predictability is the foundation of profitability. With margins tightening, precision becomes essential.
While new-car sales made a significant jump in the second quarter, used-vehicle sales took just a small step up, according to the latest data from Lotlinx. In addition, aged inventory in the used-car sector soared by 7%, ending the quarter at 49% of total inventory on the lot more than 30 days.
Although the year began with declines in the average usedcar price, the trend quickly shifted. According to the CarGurus UsedCar Price Index , which tracks millions of usedcar prices, prices drifted down from December to February. overall, since the start of the year.
Digital tools continue to play a central role in the car-buying journey. Online automotive marketplaces are the most popular destination for usedcar shoppers, with 55 per cent browsing classifieds, followed by dealership websites at 39 per cent. High interest rates were also cited by 16 per cent of respondents.
Electric vehicles are changing how we think about cars, including how they are maintained and detailed. At ATC Montreal, students gain hands-on experience working on various vehicles, preparing them to handle the unique needs of electric cars. Auto detailing training will set you up for a highly valued role in the automotive industry.
New-car inventory is falling while prices are elevated and likely to rise more as the tariff era continues. And that’s good news for the used-car sector. The used-vehicle sector is continuing to benefit from the turbulence in the new-vehicle marketplace,” ZeroSum vice president of dealer success Josh Stoll said.
For stakeholders in the automotive industry, particularly in the usedcar market, understanding how blockchain can reshape the sector is not just about keeping pace it’s about seizing opportunities for efficiency, transparency, and growth. Workshops and educational programs can provide valuable insights.
At the upcoming Auto Intel Summit in April, Cherokee Media Group is launching the Automotive Intelligence Awards , which expands the program previously known as the Emerging 8. Automotive Intelligence Awards: Emerging Companies. Industry leaders believe these firms are on the cusp of automotive innovation and tech development.
We continue our episodes of the Auto Remarketing Podcast originating from UsedCar Week 2024 in Scottsdale, Ariz., with a discussion focused on investment funding coming into automotive and what venture capitalists think of the industry. Listen to the episode in the window below and stay tuned for more from UCW 2024.
New data from Cox Automotive, NADA, BCG and others confirm the wholesale-auction model no longer pencils for most franchised dealers. used-car transactions already happen peer-to-peer, and NADA expects that slice to keep expanding in the next few years. Cox Automotive Inc.) usedcar news) Feb.
To celebrate the 25th anniversary of UsedCar Week, Cherokee Media Group has launched the UCW Hall of Fame to recognize executives who have played an important role in the development, growth and success of UsedCar Week over time. 18 in Scottsdale, Ariz. 18 in Scottsdale, Ariz. Listen to the conversations below.
Reflections on industry trends and succession planning in the automotive aftermarket Having grown up in a multi-generational jobber business, I often reflect on both the past and future of the industry. automotive service providers have become popular targets for private equity, with many mid-market firms adding them to their portfolios.
In 2024, dealerships face a challenging landscape, with revenue and new car sales on the decline. However, amid these challenges, used vehicle sales present a bright spot. The post Creating Predictable Profit in a Volatile Automotive Market appeared first on AutoSuccessOnline.
The automotive industry offers a wide range of career opportunities, and for those with an eye for detail and a knack for numbers, becoming an auto body estimator can be an excellent choice. Prepare for continued career growth after automotive school. Are you ready to start automotive school ?
Similarly, a sudden drop in usedcar prices from post-COVID highs resulted in many vehicles not being repaired. For instance, as vehicles become more complex, the cost of repairing crash parts with all the added sensors and technology might lead to higher total loss ratios as these cars depreciate. He is based out of Toronto.
In February the Automotive Service Association announced proposed federal legislation drafted in collaboration with the Society of Collision Repair Specialists (SCRS) and the Alliance for Automotive Innovation, the trade association that represents the OEMs responsible for around 98 percent of all vehicles sold in the United States.
How Dennis Dillon Auto Group Built a Winning Private-Party Buying Program Most car dealers think the best used vehicles are found at auctions. We talked with their usedcar manager, Bryan Bough, about their private-party buying program. Key Insight: Your salespeople should focus on selling cars, Bryan emphasized.
As part of the inaugural Automotive Intelligence Awards , Cherokee Media Group is honoring a select group of outstanding auto industry analysts for their contribution to the knowledge base of the used-car retail, finance and remarketing industries.
But the supply of vehicle inventory, already an issue in the used-car sector, looms as a factor in both the short and long term. TO READ THE FULL STORY BECOME A MEMBER Login The post Tariffs expected to take a toll on used-car supply now and later appeared first on Auto Remarketing.
When you sell cars for a living, your confidence in your product is the first positive virtue influencing customers to buy. If you project faith and assurance in the usedcar a customer asks about, that is the trust-enhancer that moves the sale needle closer to a close. Remember, the real product isn’t the car — it’s confidence.
The automotive retail environment has entered a period of accelerated change. Rising interest rates, record-high monthly payments and fluctuating usedcar valuations have changed the customer journey. The post Real-Time Analytics: The Competitive Edge for Todays Automotive Dealerships appeared first on AutoSuccessOnline.
What a car shopper cant find on them wouldnt fill a thimble so why should you consider adding digital vehicle portfolio (DVP) content to this fantastic marketing site? Thats a great question, and every dealer, GM and usedcar manager should ask it. Confidence in Pricing & Value A well-documented car means no surprises.
There’s “snow” rest for the weary in the car business. Plus, Von Busch goes into detail about Experian’s special report on the used-car market. Listen to the conversation in the window below.
Discover a smarter usedcar inventory sourcing strategy. The best cars dont hit the lane; theyre in someones driveway. Ever notice how the cars you really want low miles, high demand, fat margins never seem to hit the auction block anymore? Sellers think their cars are worth all the money. Fair points.
The used vehicle market in 2024 was a rollercoaster, influenced by a mix of factors, according to DesRosiers Automotive Consultants. A survey of UsedCar Dealers Association members highlighted a stark contrast between independent used vehicle dealers and franchised new vehicle dealers.
Those are not necessarily words used to describe the used-vehicle market over the last five years, but 2024 closed with analysts calling wholesale price patterns exactly that. TO READ THE FULL STORY BECOME A MEMBER Login The post Wholesale vehicle prices back to ‘more normal’ patterns appeared first on Auto Remarketing.
Cox Automotive estimated February used-car sales made the largest jump seen in recent years. And the used-vehicle sales index segment of the Cox Automotives Q1 2025 Dealer Sentiment Index (CADSI) improved for the fifth straight quarter. Cox Automotive found that the economy dropped to No.
Following their visits to NADA last month, we have a more thankful nation of car dealers. At the same time, without process improvement, the profitability per vehicle (PPV) of the usedcar will continue to evaporate. Every acquisition in this usedcar market must lead to a profit per vehicle outcome.
As part of the inaugural Automotive Intelligence Awards, Cherokee Media Group is honoring a select group of outstanding auto industry analysts for their contribution to the knowledge base of the used-car retail, finance and remarketing industries. Roberts, who is from Detroit, has a deep family background in automotive.
The general narrow-minded focus we all suffer in conducting our day-to-day job helps us forget and neglect the basics of the car business we need to remember. OK, I do not want to be Chicken Little crying that the sky is falling, but I hope to encourage you to look at the reconditioning practices of your usedcar department.
He knows cars and The Cars. An economist who moved from the real estate market to the automotive market while moonlighting as a DJ Cox Automotive chief economist Jonathan Smoke is among our first-ever honorees in the Automotive Intelligence Awards: Industry Analysts program.
As an old automotive retail veteran, I remember decades ago when automotive dealers looked down on lower margin quick service work, oil changes, brakes, tires, and more or less abdicated that business to others. What about renting cars? Inventory management works on the usedcar side as well.
The Q1 2025 Cox Automotive Dealer Sentiment Index (CADSI) reports that the U.S. “Certainly, a theme that continues through all of the findings is that the first quarter is better than a year ago for sure,” noted Cox Automotive Chief Economist Jonathan Smoke. The current market index score increased year over year.
For many automotive dealerships, a significant portion of their revenue and customer loyalty comes not just from the initial sale, but from the services and products offered in the months and years afterward. By securing a VSC post-sale, dealers can lock in this relationship, encouraging repeat business for future car purchases.
We continue our episodes of the Auto Remarketing Podcast originating from UsedCar Week 2024 in Scottsdale, Ariz., Moderated by Cherokee Media Groups Joe Overby, the opposing points of view on EVs came from Steve Greenfield of Automotive Ventures and Scott Case of Recurrent.
automotive industry is bracing for lasting impact, especially if a standoff with China escalates into a full-blown trade war. made models, usedcar trade-ins are retaining high value and subscription and flexible financing models are expanding for buyers wary of long-term commitments. In April 2025, the U.S.
The year started off with expectations there might be a return to normal in the used-car market. At Black Book, the Used Vehicle Retention Index came in at 146.3 The Manheim Used Vehicle Value Index, meanwhile, came in at 205.6, Compact cars were down 3.4%, midsize cars were down 1.6% last month, down 1.2%
The supply of used vehicles. In Cox Automotives recent 2025 forecast call with industry media and analysts, chief economist Jonathan Smoke painted a rosy picture for whats ahead. And car shoppers, who had been hesitant to buy while waiting for rate cuts and election results, are now ready to pull the trigger. Smoke projects 2.5
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