Dealerships of all sizes are trying a wide array of strategies to reach millennials — individuals born between 1982 and 1994 — in order to keep vehicles turning and service bays humming. J.D. Power recently released what analysts titled the Millennials Insight Report: The Customer Experience Perspective; a report aimed at defining the quintessential makeup and […] [Read More]

CarMax hosted its quarterly conference call to share results of its 2016 fiscal year on the same day that Cox Automotive chief economist Tom Webb conducted his regular phone gathering to discuss a wide array of industry topics. It just so happened that call participants asked Webb about how CarMax manages to keep its used-vehicle […] [Read More]

You can expect 3.1 million off-lease units to hit the market this year, which is 800,000 more than there were in 2015, according to a data in a presentation from NADA Used Car Guide at last week’s NADA Convention & Expo. This is expected to drive late-model supply to 13.4 million units this year, which […] [Read More]

Creeping up. Forms of that phrase were used by both Kelley Blue Book and Jonathan Banks of NADA Used Car Guide to describe the current state of new-car incentives. And one area, in particular, could be an interesting spot for the industry, if not done right: lease incentives. While a “throwback” vibe is in full […] [Read More]

Fleurette Runyan from Consolidated Asset Recovery Systems (CARS) plans to answer four important questions during a free webinar the company is hosting at two different times next week. CARS’ director of sales for the central U.S. indicated many auto finance companies and other clients are curious about market averages for repossessions and other services. So […] [Read More]

With a record-breaking 2015 under our belts, and 2016 shaping up to be another strong year for new-car sales, many dealers are feeling confident for the coming months. If you’re in the used-car business, however, April’s showers may not bring May flowers unless you have the right tools and strategies in hand. Profitable trade-ins and […] [Read More]

Experian Automotive revealed a study on Friday indicating that leasing as a financing option for new vehicles has grown 76 percent since the company began publicly tracking the data in 2008. Additionally, the study determined the upward trend of leasing has resulted in a rising surplus of vehicles coming off lease. In fact, according to […] [Read More]

NADA Used Car Guide executive analyst Jonathan Banks frequently referenced the “reversal of a market” when he discussed nearly a half dozen different topics during his news conference on Friday to kick off the NADA Convention & Expo. Banks told the media and other industry observers that the supply of used vehicles, credit conditions for […] [Read More]

Perhaps the 2016 J.D. Power Automotive Summit poured a bit of cold water on things just as the festivities in Las Vegas cranked up ahead of the NADA Convention & Expo. J.D. Power cautioned the industry on Thursday that the U.S. auto market must adopt a more “disciplined” approach to maintain long-term health for the […] [Read More]

A central theme to a special edition of the Used Vehicle Market Report from Edmunds.com released today   — and the 2016 used-car market, in general — is the heavy amount of cars coming out of leases. There are several tentacles to this off-lease surge. For one, it represents a steady stream of vehicles ideal for […] [Read More]