Analysis
How used-car prices are faring this month in wholesale, retail markets
Thursday, May. 23, 2024, 04:23 PM
Auto Remarketing Staff
Wholesale vehicle prices fell nearly 12% year-over-year in April and have continued modest month-over-month declines in May, according to the latest Kontos Kommentary report from ADESA chief economist Tom Kontos. Overall wholesale values last month came in at $14,559, down 11.7% from the April 2023 average of $16,468, according to the report. Prices were down […] [Read More]
Survey finds consumers more likely to click on vehicles with high-quality photos
Thursday, May. 23, 2024, 03:57 PM
Auto Remarketing Staff
How important is a good photo on a vehicle display page? Automotive photo, video and data collection company Redline decided to find out, and its recent survey showed consumers believe it’s very important. The survey of 372 adults — including respondents who indicated they had shopped online for a vehicle in the past three years […] [Read More]
In good sign for service departments, age of vehicle population hits all-time high
Wednesday, May. 22, 2024, 04:44 PM
Joe Overby, Senior Editor
In recent years, several automakers have expanded the age eligibility limits for vehicles in their respective certified pre-owned programs. And although there’s room for improvement, dealers are improving the customer experience in the service department. Both are good signs, given what S&P Global Mobility discovered about the average age of vehicles on the road. At 12.6 […] [Read More]
COMMENTARY: What Q1 inventory management data means for today’s successful dealers
Friday, May. 17, 2024, 12:21 PM
Jason Knight, Lotlinx
Inventory management remains critical for auto retailers today in determining profitability, customer satisfaction, and operational efficiency. The traditional methods of inventory management, reliant on manual processes and intuition, are proving inadequate in the face of rapidly evolving consumer preferences, market fluctuations, and the complexities of the automotive industry. To thrive in this competitive landscape, auto […] [Read More]
Edmunds: Availability of affordable used cars grows in Q1
Wednesday, May. 15, 2024, 03:48 PM
Auto Remarketing Staff
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. Drury cited a variety of positive data points as reasons why via his analysis of the first quarter. “The […] [Read More]
Hyundai, Kia models supplant pickups as nation’s most stolen vehicles
Monday, May. 13, 2024, 03:30 PM
Auto Remarketing Staff
The most stolen vehicles in America are no longer trucks. In part as a result of social media videos showing how to steal Kia and Hyundai vehicles, cars from those manufacturers have jumped to the top of the list of America’s most stolen vehicles, compiled annually by the National Insurance Crime Bureau. Six of the […] [Read More]
BEV sales at auction nearly twice as high as 2023 figures
Friday, May. 10, 2024, 01:31 PM
Joe Overby, Senior Editor
The number of battery-electric vehicles sold at auction through April is nearly double the amount sold in the first four months of 2023, and prices for EVs have declined at a faster rate than the overall market. That’s according to respective wholesale car market analyses by the National Auto Auction Association and Cox Automotive. NAAA’s […] [Read More]