China’s leading used-car online marketplace was in Scottsdale, Ariz., this year with a booth at Used Car Week, held in mid-November. TaoCheChe’s reason for being there was two-fold. “Our main purpose in coming to UCW is to learn from our industry partners,” TaoCheChe CEO Jiang Dong told Auto Remarketing at its booth. “But another purpose is to tell the American used-car industry to look at China’s used-car market. It is a gold mine.” China’s used-car market is the world’s fastest growing, with a compounded annual growth rate of ... [Read More]

An overwhelming percentage of car dealers who use digital retailing tools are reporting encouraging results, according to the latest research by Cox Automotive. The company’s 2023 Digitization of Car Buying Study found 90% of dealers said digital retailing has positively impacted at least one area of their business, with customer satisfaction/experience, customer relationships, ease of […] [Read More]

Just before finishing his time at Used Car Week, CarGurus director of industry analytics Kevin Roberts took a few moments to appear again on the Auto Remarketing Podcast. Roberts shared some tidbits from CarGurus’ upcoming report recapping this year’s used-vehicle market as well as what trends he’ll be watching closely in 2024. The conversation can […] [Read More]

Well, it’s that time of year again. Don’t blink. In this business, it’s sometimes easy to forget everything we should be thankful for and much easier to think of everything that bothers us. Now, it’s time to catch your breath and look at what the automotive industry is truly all about. The hardest thing to […] [Read More]

The world of car dealerships is a dynamic and ever-evolving industry that operates in tandem with economic cycles. In a down market, car dealerships face unique challenges that test their adaptability and resilience. Having insight at CarOffer into thousands of dealerships nationwide, it is interesting to see what some of the best dealers are doing […] [Read More]

It’s about repeat champs when it comes to the winners of the J.D. Power 2024 U.S. ALG Residual Value Awards. For the fourth year in a row, Lexus earned the top prize among premium brands, and Honda led mass-market brands for the third consecutive year. The awards recognize vehicle models projected to hold the highest […] [Read More]

When it comes to used-car retail prices, the third quarter pointed to a “return to normalcy,” a trend that was particularly evident by this metric: late-model used cars have prices that are “notably below” those of new vehicles. That’s according to the latest Used Vehicle Report from Edmunds, which detailed, among other trends, the move […] [Read More]

Inventory shortages the last few years may have hurt new-car sales, but they were a boon for used-vehicle sales, including those that were certified pre-owned. New inventory may be improving, but consumer interest in CPO models will remain and dealers and manufacturers should take note, said participants on the “Top Used Car Strategies from ‘Best CPO Dealers’” panel during Used Car Week. “We saw a huge value in ... [Read More]

The picture of how wholesale used-vehicle prices behaved in October and what’s in store for the final two months of the year may very well depend on what data set you’re considering. Black Book’s Used Vehicle Retention Index came in at 161.0 for October, up 1.1% from September and down 7.6% year-over-year.  It remains 41% […] [Read More]

New technology holds radical possibilities for the automotive industry at every level of the sales funnel. Artificial intelligence (AI) is already being used for enhancing promotional images, creating videos, and providing other helpful additions to marketing. AI for merchandising is not the only way this innovative new technology is shifting the auto remarketing industry, however. […] [Read More]