Analysis
Cox study shows dealership service lanes losing market share, consumer trust
Tuesday, Dec. 12, 2023, 02:33 PM
Auto Remarketing Staff
Dealership service departments are not only losing market share to general repair shops — they’re also losing the trust of consumers, according to the latest research by Cox Automotive. Cox’s new study, “Under the Hood: Opportunities and Challenges in the Service Industry,” found that while franchised dealerships are still vehicle owners’ top choice among service […] [Read More]
Cox Automotive’s Q4 dealer survey finds pessimism rampant
Friday, Dec. 8, 2023, 04:11 PM
Auto Remarketing Staff
Auto dealers have issued a vote of no confidence to the current U.S. economy. The Cox Automotive Dealer Sentiment Index for the fourth quarter of 2023 showed a sharp drop from Q3, which Cox analysts attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market, the two […] [Read More]
Wholesale vehicle prices perhaps headed toward smoother waters after choppy ride in ’23
Friday, Dec. 8, 2023, 12:24 PM
Joe Overby, Senior Editor
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. Good thing for the auto industry is that signs point to “less of a roller coaster in the new year,” […] [Read More]
Mazda, Subaru rise to the top of Cars Commerce reputation rankings
Thursday, Nov. 30, 2023, 03:24 PM
Auto Remarketing Staff
When it comes to reputation among consumers, Mazda and Subaru are at the top of the heap, according to Cars Commerce’s latest research. The Cars.com Experience Report measured the reputation of the major automotive brands based on analysis of consumer reviews about dealerships nationwide on Cars Commerce’s Cars.com marketplace. Cars Commerce said the Experience Report’s […] [Read More]
Used EV prices drop further than overall market, but are slow to sell
Wednesday, Nov. 29, 2023, 01:27 PM
Joe Overby, Senior Editor
Average prices on 1- to 5-year-old vehicles in October were down 5.1% year-over-year, according to analysis from iSeeCars.com. 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, […] [Read More]
PODCAST: What we’ve learned about EVs in 2023
Tuesday, Nov. 28, 2023, 02:49 PM
Auto Remarketing Staff
Two of the experts at Experian Automotive — John Howard and Kirsten Von Busch — spent part of their time at Used Car Week discussing electric vehicles for this episode of the Auto Remarketing Podcast. Howard and Von Busch recapped what the industry has learned about EV retailing and more this year. The conversation can […] [Read More]
China’s used-car market is a gold mine, says head of largest digital used-car marketplace
Monday, Nov. 27, 2023, 03:38 PM
Alysha Webb, Correspondent
China’s leading used-car online marketplace was in Scottsdale, Ariz., this year with a booth at Used Car Week, held in mid-November. TaoCheChe’s reason for being there was two-fold.
“Our main purpose in coming to UCW is to learn from our industry partners,” TaoCheChe CEO Jiang Dong told Auto Remarketing at its booth. “But another purpose is to tell the American used-car industry to look at China’s used-car market. It is a gold mine.”
China’s used-car market is the world’s fastest growing, with a compounded annual growth rate of ... [Read More]
Dealers finding positive impact from digital retailing tools, study shows
Monday, Nov. 27, 2023, 02:02 PM
Auto Remarketing Staff
An overwhelming percentage of car dealers who use digital retailing tools are reporting encouraging results, according to the latest research by Cox Automotive. The company’s 2023 Digitization of Car Buying Study found 90% of dealers said digital retailing has positively impacted at least one area of their business, with customer satisfaction/experience, customer relationships, ease of […] [Read More]
PODCAST: Reviewing this year’s used-car market with CarGurus’ Kevin Roberts
Wednesday, Nov. 22, 2023, 10:30 AM
Auto Remarketing Staff
Just before finishing his time at Used Car Week, CarGurus director of industry analytics Kevin Roberts took a few moments to appear again on the Auto Remarketing Podcast. Roberts shared some tidbits from CarGurus’ upcoming report recapping this year’s used-vehicle market as well as what trends he’ll be watching closely in 2024. The conversation can […] [Read More]
COMMENTARY: Some industry thoughts in a time of thanks
Tuesday, Nov. 21, 2023, 02:25 PM
Robert Grill, CARFAX
Well, it’s that time of year again. Don’t blink. In this business, it’s sometimes easy to forget everything we should be thankful for and much easier to think of everything that bothers us. Now, it’s time to catch your breath and look at what the automotive industry is truly all about. The hardest thing to […] [Read More]