The easing in wholesale vehicle prices continues in March, as values in the first half of the month are down nearly 15% from a year ago, according to Cox Automotive. When adjusting for mix, mileage and seasonality, the midmonth reading of the company’s Manheim Used Vehicle Value Index (202.6) is 14.9% lower than the full […] [Read More]

Sales of used cars and certified pre-owned vehicles took a big jump in February, thanks to falling prices that have widened the price gap between new and used vehicles, according to the latest State of the Dealer Report from ZeroSum. The report showed dealers moved 1.29 million used vehicles last month, up from 1.13 million […] [Read More]

It’s 2024, and the turmoil that surrounded the National Independent Automobile Dealers Association in 2021-22 is gone, if not forgotten. “The past is a cancer,” said Wendy Rinehart, executive director of the NIADA-affiliated Ohio IADA. “We beat the cancer.” The focus now for NIADA, its state affiliates, its members and the independent dealer community at large — which includes the vendors that serve it — is unwaveringly forward. And that has its leaders, members and industry partners excited about ... [Read More]

In an era where digital transformation is not just an advantage but a necessity, automotive dealerships stand at the precipice of a new dawn. Artificial intelligence is leading this charge, offering innovative solutions that promise to redefine how dealerships engage with their customers, manage their inventories, and streamline their operations. This spotlight delves into the […] [Read More]

In the wake of the global pandemic, the automotive industry has been riding through a storm of unprecedented challenges and transformations. As the world gradually emerges from the shadows of COVID-19, a significant shift in the car retail landscape is becoming increasingly apparent, particularly in the electric vehicle sector. The pandemic has accelerated changes in […] [Read More]

The “dramatic” declines in used electric vehicles last month no doubt caused some head-scratching for those in the business of remarketing or retailing these cars, but the near 32% drop may open up some opportunities for consumers and dealers alike. The average price of a 1- to 5-year-old used electric vehicles in February was $30,904, […] [Read More]

Auto dealers still don’t like the look of the current market for vehicles. But now there’s a hint of optimism about the near future. The Cox Automotive Dealer Sentiment Index for the first quarter of 2024 shows dealers’ view of the market has improved only slightly, up to 42 (out of 100) from Q4 2023’s […] [Read More]

Flexcar is bringing its vehicle subscription service to Rhode Island. The company announced consumers in the Providence area can now sign up for monthly subscriptions, choose their vehicle and have it delivered to their home. Flexcar chief operating officer Ryan Quinlan said while Rhode Island residents drive an average of less than 10,000 miles per […] [Read More]

The retail used-car market, including the certified pre-owned segment, showed some real strength last month, improving from both year-ago and January figures. This after what appeared to be sluggish start to 2024. Citing data from its vAuto business unit, Cox Automotive estimated that used-vehicle retail sales in February climbed 18% month-over-month and 5% year-over-year. The […] [Read More]

It was springtime in the auction lanes last month. Prices were down double-digit percentages from a year ago, but the market was buzzing as dealers were busy buying units amid blooming retail demand. “The wholesale market got into the spring mood in February, with dealers ... [Read More]