Analysis
Vehicle thefts on record pace in 2023
Friday, Oct. 13, 2023, 10:20 AM
Auto Remarketing Staff
Vehicle theft has continued to rise in 2023 and is on pace to set a record, according to the latest report from the National Insurance Crime Bureau. NICB — the insurance industry’s not-for-profit association dedicated to predicting, preventing and prosecuting insurance crime — found nearly 500,000 vehicles were reported stolen nationwide in the first half […] [Read More]
Impact of UAW strike trickles into used-car market, as dealers secure more supply
Friday, Oct. 6, 2023, 03:42 PM
Auto Remarketing Staff
Dealers, it seems, are shoring up used-car inventories on their lots in case the United Auto Workers strike is prolonged and they’re left empty-handed on the new-car side. According to the latest Intelligence Report from CarGurus, used-vehicle inventory at dealerships in September jumped 2.5% from August, though still down 3.8% year-over-year and 8.4% from pre-COVID […] [Read More]
Micro-leases, subscriptions, long-term rentals, whatever you call it, will it become a third ‘sales’ channel?
Friday, Oct. 6, 2023, 02:07 PM
John Possumato, DriveItAway
Whether you call it a micro-lease, a subscription, or long-term rental, flexible, turnkey vehicle access without any long-term commitment now dominates personal transportation in Europe. And developments suggest that a larger presence in U.S. dealerships will be coming soon. I was listening to a panel discussion with some very esteemed automotive economists recently, and in […] [Read More]
Stability in wholesale vehicle prices could hinge on impact of UAW strike
Friday, Oct. 6, 2023, 01:39 PM
Joe Overby, Senior Editor
The wholesale used-vehicle market ended the third quarter with some stability, but the duration of that steadiness likely hinges on how the United Auto Workers strike unfolds. As one analyst put it, the used-car market has reached a “crossroads.” That’s the state of affairs illustrated by the monthly used-car price indices released this week by […] [Read More]
PODCAST: Tips to succeed at industry conferences with Jennifer Sanford
Friday, Oct. 6, 2023, 12:40 PM
Auto Remarketing Staff
Sanford Marketing Group founder Jennifer Sanford shares more of her wisdom for successful B2B marketing campaigns and project management. Sanford offers advice on making the most of industry events during this episode of the Auto Remarketing Podcast. She also wrote commentaries addressing what to do while at trade shows, best practices for exhibit booths, and […] [Read More]
CPO sales climb 8.6% through three quarters; full-year forecast upgraded
Thursday, Oct. 5, 2023, 11:34 AM
Joe Overby, Senior Editor
Year-to-date certified pre-owned sales crossed the 2 million-unit threshold in September and are up nearly 9% through three quarters of 2023, according to preliminary estimates from Motor Intelligence provided to Auto Remarketing.
Based on data gathered from automakers and projected sales, the firm estimated Thursday there were ... [Read More]
Meet the ’40 Under 40: Industry’ honorees for 2023
Wednesday, Oct. 4, 2023, 11:35 AM
Auto Remarketing Staff
In this installment of Auto Remarketing’s 40 Under 40 franchise, we feature the 2023 honorees in the “40 Under 40: Industry” program, which is sponsored by IAA and focuses on consignors, auctions, auto finance, vendors, tech companies, associations and other players within the used-car space. Honorees will be recognized in the upcoming October issue of […] [Read More]
Affordability concerns weigh heavily on consumers and could impact the industry’s recovery
Tuesday, Oct. 3, 2023, 04:33 PM
Arlena Sawyers, Correspondent
High vehicle prices and interest rates are delivering an economic one-two punch that is being felt throughout the used-vehicle ecosystem. Think consumer financing and monthly payments, dealership inventory and certified used vehicles, and residuals and repossessions.
And they’re bound to be among the major discussion points during Used Car Week, set for Nov. 6-9 in Scottsdale, Ariz.
In September, Cox Automotive released data showing that inflation and affordability concerns were the five top reasons consumers who said they ... [Read More]
Color study shows the graying of America’s cars
Tuesday, Oct. 3, 2023, 12:33 PM
Auto Remarketing Staff
America’s cars are going gray — and not just because they’re getting older. The latest study of car colors from iSeeCars shows gray rising in popularity, passing silver for third in market share behind perennial favorites white and black. According to the study, which analyzed more than 10 million 1- to 5-year-old used cars sold […] [Read More]
Experian report shows extent of Tesla’s domination of U.S. EV market
Monday, Oct. 2, 2023, 02:43 PM
Auto Remarketing Staff
When it comes to electric vehicles in the U.S., there’s Tesla and there’s everyone else. Experian’s Automotive Consumer Trends Report for the second quarter of 2023 confirms that fact with the finding that the automaker has four of the top five luxury EV models in terms of market share. At the top of the list […] [Read More]