Analysis
COMMENTARY: 8 tips to be adaptive & thrive in a down market
Friday, Nov. 17, 2023, 10:55 AM
Mark Bland, CarOffer
The world of car dealerships is a dynamic and ever-evolving industry that operates in tandem with economic cycles. In a down market, car dealerships face unique challenges that test their adaptability and resilience. Having insight at CarOffer into thousands of dealerships nationwide, it is interesting to see what some of the best dealers are doing […] [Read More]
Lexus, Honda continue to dominate Residual Value Awards
Thursday, Nov. 16, 2023, 12:56 PM
Auto Remarketing Staff
It’s about repeat champs when it comes to the winners of the J.D. Power 2024 U.S. ALG Residual Value Awards. For the fourth year in a row, Lexus earned the top prize among premium brands, and Honda led mass-market brands for the third consecutive year. The awards recognize vehicle models projected to hold the highest […] [Read More]
Q3 marked ‘return to normalcy’ for used-car retail prices
Tuesday, Nov. 14, 2023, 03:54 PM
Auto Remarketing Staff
When it comes to used-car retail prices, the third quarter pointed to a “return to normalcy,” a trend that was particularly evident by this metric: late-model used cars have prices that are “notably below” those of new vehicles. That’s according to the latest Used Vehicle Report from Edmunds, which detailed, among other trends, the move […] [Read More]
CPO programs are crucial even as new-car inventory recovers
Tuesday, Nov. 14, 2023, 11:08 AM
Alysha Webb, Correspondent
Inventory shortages the last few years may have hurt new-car sales, but they were a boon for used-vehicle sales, including those that were certified pre-owned.
New inventory may be improving, but consumer interest in CPO models will remain and dealers and manufacturers should take note, said participants on the “Top Used Car Strategies from ‘Best CPO Dealers’” panel during Used Car Week.
“We saw a huge value in ... [Read More]
2 perspectives on wholesale vehicle price movement
Monday, Nov. 13, 2023, 04:34 PM
Auto Remarketing Staff
The picture of how wholesale used-vehicle prices behaved in October and what’s in store for the final two months of the year may very well depend on what data set you’re considering. Black Book’s Used Vehicle Retention Index came in at 161.0 for October, up 1.1% from September and down 7.6% year-over-year. It remains 41% […] [Read More]
COMMENTARY: AI and auto — perfecting pricing strategies
Thursday, Nov. 2, 2023, 02:12 PM
Tim Fries, The Tokenist
New technology holds radical possibilities for the automotive industry at every level of the sales funnel. Artificial intelligence (AI) is already being used for enhancing promotional images, creating videos, and providing other helpful additions to marketing. AI for merchandising is not the only way this innovative new technology is shifting the auto remarketing industry, however. […] [Read More]
How the used commercial vehicle market fared in Q3
Tuesday, Oct. 31, 2023, 03:23 PM
Auto Remarketing Staff
Sales of used commercial vehicles at dealerships in the third quarter “cooled off,” but remain well ahead of year-ago figures, according to the Q3 2023 Commercial Vehicle Market Analysis from Work Truck Solutions. In addition to sales, the report delves into prices, turn times, inventory and more. Starting with sales, specifically, there was a 2.3% […] [Read More]
CARFAX data shows many Americans are behind on car maintenance
Monday, Oct. 30, 2023, 01:24 PM
Auto Remarketing Staff
Many Americans are behind on vehicle maintenance such as regular oil changes and tire rotations, according to research from CARFAX. The company said information compiled from the alerts and service records of the 35 million vehicles in the CARFAX Car Care program showed 29% of those vehicles are behind on oil changes, 44% haven’t had […] [Read More]
Used-car retail prices not likely to soften much further
Friday, Oct. 27, 2023, 03:36 PM
Auto Remarketing Staff
The retail used-car market appears to be hitting a “leveling off period” when it comes to prices. In other words, shoppers shouldn’t expect much further relief. That’s according to the latest CARFAX Used Car Price Index, which said used-car asking prices on its platform are approaching a “floor.” While prices for pickup trucks and luxury […] [Read More]
PODCAST: What to watch for at Used Car Week
Friday, Oct. 27, 2023, 02:02 PM
Auto Remarketing Staff
Jeremy Louisos isn’t just the senior vice president of Preowned Auto Logistics and an alumnus of Auto Remarketing’s 40 Under 40 program. As it turns out, he’s also a budding podcast star. Louisos, host of the PAL Podcast, will be among close to 20 podcasters recording shows on the podcast stage at Used Car Week, […] [Read More]