Analysis

When tax season arrives, dealers know customers are coming — and they need cars to sell them. Not surprisingly, then, the monthly Cars Commerce Industry Insights Report for March showed a big surge in inventory. The report found used-car supply jumped 7.6% from February to March, based on the company’s marketplace inventory, as dealers stocked […] [Read More]

Sales of electric vehicles continue to grow in the U.S., but a new report shows the pace of that growth has slowed considerably. According to sales data analyzed by Kelley Blue Book in its Q1 2024 Electric Vehicle Sales Report, Americans purchased 268,909 new EVs in the first quarter. That’s up 2.6% year-over-year, but down […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. During discussions with vehicle transport industry representatives, a common theme emerges: The industry has lagged behind the freight shipping industry in the area of technological innovation. “They have been a lot more tech forward than us historically,” said Mike Scenna, vice president of sales and operations for Preowned Auto Logistics. “We often say we’re 10, 15 years behind the freight side of the house,” said Joe Kichler, vice president of logistics for Cox Automotive. But that seems to ... [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.  It is available for Cherokee Media Group Premium subscribers now.  Dan Kennedy says the volume vs. capacity situation in auto transport seems to be on the mend. “For a while, [there was] more volume than capacity, but now it seems like things are starting to align,” said Kennedy, who is senior vice president of business development for CT Services. “Loads seem to be moving a little faster.” Joe Kichler agreed that capacity is a top transport industry issue, saying “we’re starting to see volume come back.” Capacity and available drivers are down from pre-pandemic levels, he said, especially on the wholesale side. “But depending on how quick that comes back and some of the new technology, there are going to need to be ... [Read More]

It’s decision time, crafting a long-term plan versus making short-term gains. First, we need to look at our “short-term gain” decisions we made back in 2020. New cars were at a premium that year, and many dealers decided to “make hay while the sun shines” so, according to NADA, as a result, the new per-vehicle […] [Read More]

Where’s the most EV-friendly place to own a home? Not surprisingly, it’s in California, according to a report from Realtor.com and Cox Automotive. In fact, the 2024 Realtor.com Housing Market and Electric Vehicle Report found three of the top 10 and eight of the top 20 housing markets for EV ownership are in the Golden […] [Read More]

Amid an ocean of affordability challenges in the used-car retail market, a droplet of “hope” remains. In fact, Kevin Roberts of CarGurus said it’s possible for average used-car prices to show a double-digit-percentage decrease, even as headwinds keep them above pre-COVID levels. “While it’s still challenging to find that elusive affordable car, there’s hope for […] [Read More]

Regardless of the obstacles, dealership groups are determined to keep growing. That’s the big takeaway from Kerrigan Advisors’ newly released 2023 Blue Sky Report, which showed dealership buy-sell activity up 6% year-over-year, with a record 397 completed transactions in 2023. Among those sales, the sell-side advisors for auto dealers said, was the third-largest transaction in […] [Read More]

Wholesale vehicle prices last month were down double-digit-percentages from March 2023, but whether the close of the first quarter represented a strong spring market is up for some debate. It may depend on which industry index you’re observing. Still, a common theme of “normalcy” certainly has emerged in the used-car market. On Monday, Black Book […] [Read More]

Electric-vehicle naysayers likely harp on challenges such as outdated and insufficient infrastructure, alongside environmental regulatory programs, as hurdles to continued expansion of EVs and battery manufacturing in the U.S. U.S. law firm Troutman Pepper acknowledged those elements and other risks undermining EV adoption in its new industry report released on Monday. But Troutman Pepper also […] [Read More]