Analysis
What might create future ‘lumpiness’ as ‘exorbitant’ wholesale prices fall
Thursday, Aug. 24, 2023, 02:22 PM
Nick Zulovich, Senior Editor
ADESA chief economist Tom Kontos demonstrated his vast vocabulary again to explain what’s happening with wholesale values, detailing how prices are coming down from “exorbitant” levels and what might cause some “lumpiness” later this year. Auto Remarketing connected with the industry expert this week as he released his newest installment of the Kontos Kommentary. According […] [Read More]
Wholesale vehicle price behavior at August’s midpoint
Monday, Aug. 21, 2023, 03:47 PM
Auto Remarketing Staff
The softening in the Manheim Used Vehicle Value Index at August’s halfway point has slowed from July’s declines, according to an analysis released by Cox Automotive last week. The mid-month reading of the index was 212.0, which was up 0.1% from July and a 7.8% decrease from the full month of August 2022, when adjusting […] [Read More]
In ‘hotter than expected’ CPO car market, sales jump 12% in July
Friday, Aug. 18, 2023, 02:09 PM
Joe Overby, Senior Editor
After a slow 2022, the certified pre-owned vehicle market is “hotter than expected” and continues to outpace year-ago figures by 7% so far in 2023, according to a Data Point report from Cox Automotive. July was particularly hot for CPO, as the monthly tally of 231,128 sales eclipsed July 2022 figures by 12% and marked […] [Read More]
PODCAST: Alain Nana-Sinkam & Eric Lyman discuss their new venture, evolution of vehicle forecasting & more
Friday, Aug. 18, 2023, 12:29 PM
Auto Remarketing Staff
In this episode of the Auto Remarketing Podcast, longtime auto industry analysts Alain Nana-Sinkam and Eric Lyman join the show to discuss their new venture called “Remarkit Automotive,” an automotive advisory firm. In addition to explaining the firm’s origins, Nana-Sinkam and Lyman also delve into the evolution of vehicle forecasting, projections for the electric vehicle […] [Read More]
J.D. Power study shows deteriorating satisfaction with public EV charging stations
Wednesday, Aug. 16, 2023, 04:06 PM
Auto Remarketing Staff
A recently released study by Coast examined electric vehicle charging station density versus traditional gas stations in the U.S., highlighting just how many more petroleum dispensers there are versus places to plug in an EV. But what about the quality of charging stations that currently are available? The J.D. Power 2023 U.S. Electric Vehicle Experience […] [Read More]
How used-car sales are faring in dog days of summer
Tuesday, Aug. 15, 2023, 04:37 PM
Auto Remarketing Staff
Despite headwinds, used-car sales are “gaining momentum” in what appears to be a bit of a summer “surprise,” according to a Cox Automotive analysis. Based on vehicle registration data, the company estimates there were 3.02 million total used vehicles sold in July, up from 2.96 million in June. While that’s down from July 2022, sales […] [Read More]
COMMENTARY: News flash — Trade values are no longer a secret!
Monday, Aug. 14, 2023, 04:26 PM
Robert Grill, CARFAX
There are so many ways for a consumer to get a realistic expectation of what their trade-in is worth, and yet there are still those dealers who try the proverbial lowball and “steal the trade.” Why? The risk of alienating the customer can’t possibly outweigh the potential rewards. Trade-ins literally outperform car purchases 2-to-1. The NADA […] [Read More]
Coast study examines density of EV charging stations versus gas stations
Friday, Aug. 11, 2023, 01:13 PM
Auto Remarketing Staff
A new study by Coast examined electric vehicle charging station density versus traditional gas stations in the U.S. Researchers from the smart fuel card and modern expense management platform built on the Visa network found that the U.S. averages about 104 gas pumps per 1,000 road miles, compared to just 22 EV charging ports. “As […] [Read More]
Carvana eyes a rosier-than-expected Q3
Wednesday, Aug. 9, 2023, 04:04 PM
Joe Overby, Senior Editor
Carvana is now projecting a stronger third quarter in certain key metrics, the online used-car retailer said Wednesday. The company had initially projected positive adjusted EBITDA for the third quarter, and has now updated that to an outlook for adjusted EBITDA above $75 million. Carvana also now anticipates non-GAAP total gross profit per unit of […] [Read More]
Wholesale vehicle prices are falling, but take that with grain of salt
Tuesday, Aug. 8, 2023, 04:45 PM
Joe Overby, Senior Editor
Wholesale vehicle prices have declined double-digit percentages for two consecutive months, but it’s important to “put some perspective on that,” according to analysis around Cox Automotive’s latest Manheim Used Vehicle Value index.
Last month's 11.6% year-over-year decline in the Manheim index (adjusting for mix, mileage and seasonality) — which followed June’s 10.3% drop — is a far cry from ... [Read More]