When that shopper is waffling over whether the timing is right to buy a used car, here’s a selling point a dealer can pass along to that indecisive consumer, courtesy of CARFAX. “It’s time to get off the fence if that’s where you’ve been sitting and waiting for the right moment to act,” CARFAX editor […] [Read More]

Wholesale vehicle prices fell nearly 12% year-over-year in April and have continued modest month-over-month declines in May, according to the latest Kontos Kommentary report from ADESA chief economist Tom Kontos. Overall wholesale values last month came in at $14,559, down 11.7% from the April 2023 average of $16,468, according to the report. Prices were down […] [Read More]

How important is a good photo on a vehicle display page? Automotive photo, video and data collection company Redline decided to find out, and its recent survey showed consumers believe it’s very important. The survey of 372 adults — including respondents who indicated they had shopped online for a vehicle in the past three years […] [Read More]

In recent years, several automakers have expanded the age eligibility limits for vehicles in their respective certified pre-owned programs. And although there’s room for improvement, dealers are improving the customer experience in the service department. Both are good signs, given what S&P Global Mobility discovered about the average age of vehicles on the road. At 12.6 […] [Read More]

Used-car retail sales in April were ahead of prior-year figures, but the market was challenged, given the end of tax season and the hurdles of low supply, affordability and high interest rates. And that’s to be expected, says Cox Automotive. The company said in a Data Point report last week that independent and franchised dealers […] [Read More]

AccuTrade has hit the accelerator. Cars Commerce’s “instant appraisal engine” took a leap forward in the first quarter of 2024, CEO Alex Vetter said during the company’s recent earnings call, growing to just under 1,000 accounts and generating more than 622,000 appraisals in that span. And that growth was a key piece in Cars Commerce’s successful Q1, which ended March 31. Overall, the company reported ... [Read More]

Artificial intelligence is everywhere these days. Now it’s coming to the auto dealership buy-sell market. Retail automotive advisory firm Dave Cantin Group has launched an AI-powered data-mining software designed to provide data-driven valuations for U.S. new-car dealerships, regardless of brand, location or direct input from the dealership. DCG said its proprietary software takes in more […] [Read More]

If you’re like me, you probably have a favorite television show or movie you repeatedly watch over and over and over again. Mine is The West Wing. The writing is phenomenal. The acting is outstanding. And, as you might know, I love politics. An episode titled “Constituency of One” follows deputy chief of staff Josh […] [Read More]

Inventory management remains critical for auto retailers today in determining profitability, customer satisfaction, and operational efficiency. The traditional methods of inventory management, reliant on manual processes and intuition, are proving inadequate in the face of rapidly evolving consumer preferences, market fluctuations, and the complexities of the automotive industry. To thrive in this competitive landscape, auto […] [Read More]

Edmunds director of insights Ivan Drury highlighted multiple tailwinds that could help the retailing of used cars. What could be most beneficial for dealerships of all stripes is getting a boost of older, more affordable vehicles. Drury cited a variety of positive data points as reasons why via his analysis of the first quarter. “The […] [Read More]