Consumer interest in electric vehicles has plateaued and dealers want some relief from pressure to sell them. That was the message that emerged from speakers during the J.D. Power Auto Summit earlier this month in Las Vegas. “Interest (in EVs) has been improving pretty nicely over the last few years, but it has kind of ... [Read More]

As the automotive industry hurtles towards 2024, service departments within dealerships are gearing up for a year of significant shifts and innovations. Here are three compelling predictions that are set to redefine the landscape for automotive dealership service departments in the coming year: Warranty revenue: An 8% surge outpacing customer pay growth 2024 is poised […] [Read More]

It was good news, bad news for the retail used-car market in January. Supply softened on both a year-over-year and sequential basis, but so did prices.  Used-car demand fell over 7% from January 2023, but was up almost 14% from December. And both supply of and demand for used EVs is rising, and prices are […] [Read More]

While sales of certified pre-owned vehicles may have risen last year, dealers tell Auto Remarketing it was a tough year for them on several levels. They anticipate 2024 will be a better year for CPO sales, with some caveats. Demand for CPO vehicles in 2024 will not be a problem. A CPO vehicle “is something consumers ... [Read More]

In my second article evaluating automotive events, I am writing about the 19th annual Kain Digital Workshop. By the end of this article, both dealers and sponsors will be able to make decisions about how to participate and who they should send to the event. Also known as David Kain’s “Clients and Friends Digital Success […] [Read More]

Rebecca Lindland and Tom Kontos agree on several of the factors affecting certified pre-owned vehicle sales trends. The relationship between new and used vehicles is one of those factors. “The new market obviously greatly influences the CPO and used market,” said Lindland, who is senior director of industry data and insights for Cars Commerce. “It’s a statement I make often ... what’s popular new tends to ... [Read More]

Oh, not much, just the way people buy used vehicles. Questions of the day: — Are BDCs departments still relevant? — Are BDCs worth the additional expense? This is why we’re asking: The pandemic greatly impacted the consumer’s ability or desire to purchase used vehicles. In some states, it was literally illegal to go to […] [Read More]

Vehicle dependability is slipping, according to the latest research from J.D. Power. The J.D. Power 2024 U.S. Vehicle Dependability Study found vehicle owners are experiencing more problems after three years of ownership, which the research firm said indicates a decline in long-term vehicle dependability. The industry average increased by 4 problems per 100 vehicles year-over-year […] [Read More]

While car prices were high in 2023, car buyers — especially used-car buyers — were increasingly happier with their experience, according to the latest research from Cox Automotive. Cox’s recently released 2023 Car Buyer Journey Study found 69% of all car buyers reported being highly satisfied with their shopping experience, up from 61% in 2022. […] [Read More]

There was a bit of relief in the wholesale used-vehicle market last month, and not just in terms of prices falling year-over-year. January’s month-over-month steadiness in used-car prices was a respite from the volatility in 2023. Cox Automotive’s Manheim Used Vehicle Value Index for January came in at ... [Read More]