Used-car sales have surged since the end of 2023 thanks to trends that offer long-term opportunities for dealers, according to a new eBook from marketing and data software firm ZeroSum.

The report, “Driving Profits: The Importance of Data-Driven Decisions in the Used Car Market,” showed used-car movement is up 16.6% from the end of last year, driven in part by growing consumer confidence in pre-owned vehicles and sustained pricing differences between used and new cars, and, of course, aided by seasonal tax refunds in March and April.

ZeroSum said those factors shows signs of sustainability, “presenting a lucrative opportunity for dealers that have substantial used-car inventory.”

The company said the eBook provides a road map and strategic, data-driven approaches for dealers to fully capitalize on the success of the used-car market.

“The used-car market is becoming more competitive as dealers recognize the revenue and profits associated with it,” ZeroSum vice president of dealer success Jeff Englishmen said in a news release. “More and more, we see data not only being accepted but actively pursued and relied on.”

The report focuses on how data can give dealers the ability to make strategic decisions that can improve their operations in areas such as vehicle acquisition strategy, pricing and marketing.

The eBook includes an example illustrating the importance of timely localized data, comparing the best-selling vehicles at the national level to those in the Baton Rouge, La., market to show that dealers with market-specific data can pursue cars that will move efficiently and profitably.

It also discusses how localized pricing data from competitors can inform pricing strategy, how much price is impacting turn rates and ho to use real-time inventory and demand data to efficiently automate marketing.

“Dealers need a real-time view of not only their own supply, demand and pricing, but that of their competition as well,” Englishmen said. “Those who are relying on intuition, delayed information or just their own data are putting themselves at a disadvantage.”

The full report is available here.