Average wholesale vehicle prices fell nearly 10% year-over-year last month and remain on the downward slope for June, according to the latest Kontos Kommentary analysis from ADESA chief economist Tom Kontos. Specifically, average wholesale prices were at $16,116 in May, which was down 2.2% from April and 9.7% softer than May 2022, Kontos’ report said. […] [Read More]

Customer satisfaction with the vehicle purchase process rose to a record high in May even as rising interest rates loomed as a potential problem, according to research by CDK Global. CDK’s Ease of Purchase Scorecard for May showed consumer satisfaction hit 84%, matching the highest percentage recorded for the monthly survey of 350 consumers who […] [Read More]

Electric vehicles continue to gain the acceptance of new-vehicle shoppers — but it’s not happening rapidly, according to a new survey. The J.D. Power 2023 U.S. Electric Vehicle Consideration Study found 26% of shoppers said they are “very likely” to consider purchasing an EV, up from 24% in 2022. The percentage of shoppers who said […] [Read More]

In today’s volatile automotive retail environment, it’s more important than ever for dealers to keep an eye on the money. Simply throwing money at something was never a good plan — now it’s a terrible one! Dealers need to find different, creative ways to generate quality store traffic and market exposure. Often, that means taking […] [Read More]

Wholesale vehicle prices are easing, but dealers eager to secure used inventory more affordably should take this news with a grain of salt. In a news release around the company’s latest Manheim Used Vehicle Value Index, Cox Automotive senior manager of economic and industry insights Chris Frey put some context around the 2.7% month-over-month and […] [Read More]

Cox Automotive sees multiple challenges automakers could face if they embark on significant strategies to generate revenue from subscription-type features, also known as Features on Demand (FoD). A trio of North Carolina dealers pointed out even more potential pitfalls for the fellow retailers as well as the OEM’s legal departments. Furthermore, another industry expert gave an example of how Features on Demand could create a quagmire for auto auctions and the wholesale industry, too ... [Read More]

Bluetooth and backup cameras used to be features reserved for high-line models. Now, Bluetooth is as prevalent as vehicle seating, and backup cameras have been a mandated safety feature for vehicles manufactured since 2018. With even more robust products inside the cabins now available, some automakers see the potential to generate significant revenue from subscription-type […] [Read More]

We conclude our series of Auto Remarketing Podcast episodes from the Auto Intel Summit and NRC Spring Summit with a presentation from Spiffy chief marketing officer Grayson Leverenz, who discusses “Driving Revenue & CX with Digital Servicing.” She explains the path from digital retailing to the emerging digital servicing segment, specifics on the mobile services […] [Read More]

Sedgwick’s latest U.S. product recall index report — which analyzes recall data from five key industries — showed automotive helped to fuel a notable rise in overall product recalls. The firm’s data from the first quarter indicated that the number of product recalls in the U.S. increased 14.2% from the previous quarter, rising to the […] [Read More]

Prices for all of the vehicle categories in the CARFAX Used Car Index are down from a year ago, while six of the seven have shown month-over-month growth in May. But what perhaps stands out the most in CARFAX’s report — which compares used-car listing prices on CARFAX.com to those from 2022 — is the […] [Read More]