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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 usedcar market is surging in both value and volume. In an industry where profitability is boosted by the number of repairable vehicles on the road, the recent upswing in usedcar sales is providing tailwinds that aftermarket businesses are ready to ride. But Tucker doesnt see it playing out that way.
As the first quarter of 2025 ended, all was calm for used-vehicle retail prices. But, Cars Commerce reported in its Q1 2025 Auto Market Review , that might have been the calm before the storm. The report, based on data from the companys Cars.com, Dealer Inspire and AccuTrade platforms, showed used-car list prices fell 0.9%
Is now the right time for used-car shoppers to strike? There was some year-over-year easing in retail used-car prices last month, according to the latest CARFAX UsedCar Index report , which showed declines in six of the seven segments included in its analysis. month-over-month, prices for cars fell 0.9%.
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
After all, CARFAX opines in an analysis around its latest price index that supply of late-model vehicles has fallen (thanks to the 2021 leasing declines) and used-car demand has climbed thanks in part to lower interest rates and recent hurricanes have managed up to 347,000 cars — fueling the need for vehicle replacement.
The Canadian used vehicle market is facing a significant supply shortage of younger off-lease vehicles, expecting to negatively impact the used sales market. Off-lease vehicles are a key source of product for the usedcar market.
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.
With tight supply and a flat-feeling used market, I asked, how did he turn it into the driver of his record month? The reason most salespeople struggle to push usedcars isnt because they dont want to its because they dont understand how to sell what they dont know. Lot walks are non-negotiable.
While the Southeast recovers from the devastating impacts of Hurricanes Helene and Milton, their lingering effects are still being felt in the usedcar market. For those in the market for a used vehicle, this means extra caution is necessary. earlier this year.
With that in mind, CARFAX has added month-over-month insights to its UsedCar Index reports, the first major change in these recaps since their April 2023 debut. If so, how will that affect used-car prices? Will the new administration end the tax credit for new and/or used electric vehicles (EVs)? Why the addition?
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. But Lotlinx’s research found the used market was barely affected by that surge, showing a minimal 1% increase in sales, while the overall list price of sold units climbed 4%.
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.
Source: Freepik.com Just as buying a new car isn’t a straightforward endeavor, purchasing a usedcar isn’t either. If it’s your first time buying a usedcar, and you’re unaware of what you should consider before finalizing the purchase, no worries at all. For most individuals, it’s a one-time investment.
On Tuesday, Cherokee Media Group officially announced plans to host the UsedCar Industry Summit on April 13-15 at Miami’s premier waterfront destination: the luxurious InterContinental Miami. Built on the success of UsedCar Week, the UsedCar Industry Summit will highlight the best of the used-car industry.
Canadians are also increasingly open to both new and used vehicles. Nearly half (47 per cent) of used-car buyers consider new vehicles, while 36 per cent of new-car buyers are exploring used options. Despite this, cars still maintain a significant presence, making up 49 per cent of all vehicle searches.
From restoring a cars exterior shine to perfecting its interior, this training equips students with the expertise needed to increase the market value of vehicles, particularly in the usedcar industry. At CATI, our auto detailing training program teaches students how to bring vehicles up to showroom quality.
Accumulated miles on odometers are crucial for aftermarket product growth, as older vehicles primarily ICE models use more aftermarket products per mile than newer cars and light trucks, Lang noted. “Older cars and light trucks generate more aftermarket product use per mile than newer models,” the report said.
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. million of this March, when car buyers flooded dealerships in huge numbers to buy new and usedcars before the 25% tariff on imported vehicles took effect.
Small competitors positioned at the lower end of the market started absorbing business from usedcar lots and garages, which focused on budget-conscious customers. Over the course of just three years, it became nearly impossible for us to compete in the import parts segment. In fact, in both Canada and the U.S.,
used-car transactions already happen peer-to-peer, and NADA expects that slice to keep expanding in the next few years. vAuto) March 2020 – COVID and chip drought slash new-car output; wholesale values begin a record run (Used-car CPI +45% YoY by late 2021). usedcar news) Feb. Cox Automotive Inc.)
A major focus of our new conference — the UsedCar Industry Summit , set for April 13-15 at the waterfront and luxurious InterContinental Miami — will be used electric vehicles. We’re partnering with Recurrent to put together multiple conversations and presentations on used EVs, focused primarily on dealer best practices.
This skill is highly valued in the automotive industry as it increases the resale value of usedcars and enhances customer satisfaction. Why Auto Detailing for EVs Is Different At first glance, detailing an electric vehicle might seem no different from working on a gas-powered car.
When you think car business, you immediately picture a salesperson. We put all our energy into selling and almost nothing into buying cars. Usedcars generate 33% of a dealerships revenue, not even counting service. Pay up to $1,000 per car, plus recon costs. Our industry is obsessed with selling.
The usedcar market, for the most part, has shifted back in favor of the buyers instead of the sellers. With deals to be had on most of your typical cars and incredible savings on EVs, it also means that some dealers are pulling out all the stops to get you in the door even if the real price isnt what it appears Read more.
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.
Its not a surprise to find full-sized pickup trucks at the top of a list of Americas 100 best-selling used vehicles. million usedcar sales from the past five model years to identify the most popular usedcars bought in 2024. As has become expected, Fords F-150 pickup was the top-selling used vehicle in the U.S.
Looking for an affordable usedcar? The latest research from iSeeCars shows used EV prices fell 15.1% million usedcars sold from February 2024 to February 2025 found the average price of 1- to 5-year-old used vehicles have stabilized, down less than 1.5% You might want to go electric. The analysis of 1.9
The SAFE Repair Act would allow usedcar buyers to request that a seller provide a post-repair motor vehicle safety inspection by a qualified person to assess the quality of alterations or repairs performed on a vehicle. The SAFE Repair Act strengthens consumer choice. Consumer choice and safety are compatible objectives.
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.
. “We’re looking at poor used supply the next four years, he warned at the Talk Auto event in Vaughan, Ontario, in the fall. So when examining whether or not manufacturers will start to bring those vehicles into showrooms as usedcars, its not a bright picture. million vehicles, Ross observed.
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.
The good news is, usedcars are better than theyve ever been, and if you can find a reliable one, it could still last you for years. Buying used can still be risky, though, since youre dealing with a lot of unknowns from the previous owners, especially if you buy from a dealership.
The usedcar market, for the most part, has shifted back in favor of the buyers instead of the sellers. With deals to be had on most of your typical cars and incredible savings on EVs, it also means that some dealers are pulling out all the stops to get you in the door even if the real price isnt what it appears Read more.
Rethinking Profitability in a Changing Market Most dealers operate in a reactive cycle buying cars to replace those sold without a clear strategy beyond basic profitability. Why Reconditioning Matters More Than Ever The usedcar market has undergone significant shifts. Gross profit: $2,000.
Its the cry of the frustrated manager: Wheres the car? They come from: Usedcar managers who cant locate keys for vehicles they need to move to the sales lot. Where are the keys? These are not random cries of frustration heard occasionally; theyre frequent complaints that echo through dealerships all the time.
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. Control the Story To control the sale, control the story.
The adage time to line is always fashionable when reconditioning usedcars so you can retail sooner and profitably. For over a decade, dealers have confirmed that a three-to-five-day time-to-line recon operation gets usedcars frontline ready faster and improves inventory turn.
However, we now have another study that proves these cars are the best shot anyone has at losing money with automobiles. Conducted by iSeeCars, it analyzed the prices of "800,000 5-year-old usedcars sold from March 2024 to February 2025 to determine 5-year depreciation rates." continue reading. )
This 2023 Dodge Challenger SRT Demon 170 is one of just 40 cars built under the Demon 170 Jailbreak program, having originally cost $150,946 to purchase. Normally, one would expect such a vehicle to make some money on the usedcar market, maybe even an extra $50,000 to hit that sweet $200k mark. continue reading. )
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.
“Tariff pressure didn’t just affect new vehicles,” Cars Commerce industry and marketplace analytics principal David Greene said in his analysis of the report. “It It created ripple effects in the used market.” Indeed, the numbers show used-car supply, as measured by inventory on the Cars.com marketplace, fell 0.6%
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.
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. Now, the usedcar department can factor a retail or wholesale disposition strategy into acquisitions.
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