The tide is shifting when it comes to how cars are marketed, bought and sold. A wide range of factors have led to the evolution of an industry that used to require a buyer to visit a dealership, take a test drive, hammer out a deal, take delivery and drive away. At the top of […] [Read More]

Wholesale vehicle prices fell in April, and it’s a decline that’s likely not going to end any time soon. That’s according to indices released this week by Black Book and Cox Automotive, respectively, which signaled that last month’s softening may only be the beginning of a broader downslope in used-car pricing. While still significantly stronger […] [Read More]

Used-car prices on the retail side of the market are currently down roughly 10% year-over-year, but are moving higher — meaning now might be the right time for consumers to purchase. That’s according to the first-ever CARFAX Used Car Index, which the company announced Friday. The index monitors asking prices on Carfax.com listings in various […] [Read More]

If one knock on the potential electric vehicle adoption is affordability — even for pre-owned models — then recent used EV data might be a welcome sign for retailers and consumers, alike. The latest CarGurus Intelligence Report outlined the 10 model-year 2013-2022 pre-owned vehicles with the biggest price declines between July and March, and the […] [Read More]

April’s used-car sales could end up softer than last month and year-ago levels, but dealers wouldn’t be wrong in cautious optimism for selling conditions in the months ahead, with supply and prices strengthening. TrueCar is anticipating that used-car sales will fall 1% year-over-year and drop 6% from March, coming in at roughly 3 million units. […] [Read More]

The auto transport industry continues getting used to the fact that electric vehicles are having a strong impact on the business, Dan Kennedy says. EVs are heavier than gasoline-powered vehicles, said Kennedy, who is senior vice president, business development, for CT Services. EVs tend to sit a little bit lower, which can limit the choice of equipment you can use to move the vehicles, he said. “[That] basically will say to the customer ... [Read More]

A consumer survey released by MINI USA on Friday found that nearly half of U.S. consumers plan on going electric with their car purchase by 2028. And some used-car shoppers, it appears, are already jumping in. CarMax said in its Spring 2023 CarMax Electric Vehicle Consumer Report released Monday that search volume for the term […] [Read More]

J.D. Power Valuation Services and Work Truck Solutions each shared insights about what’s happening in connection with commercial vehicles within both the wholesale and retail segments. Beginning with J.D. Power Valuation Services’ look at auction activity in March, analysts said sales volume with commercial units increased notably, with most trucks sold showing higher-than-average mileage. As […] [Read More]

Times are changing. That’s true for the entire auto industry. And it’s no different for the reconditioning segment. Auto Remarketing spoke with a collection of recon and auction leaders to get the pulse on today’s challenges and opportunitites in the segment. The year kicked off with ... [Read More]

Most industries today have felt the pains of an across-the-board labor shortage after the COVID-19 pandemic wreaked havoc on industries across the board. The labor shortage in the reconditioning and service departments was a challenge long before the outbreak of the COVID pandemic. This just made it even worse. That’s apparent from Auto Remarketing’s conversations with recon execs and leaders in March, who all vocalized how difficult it is to find quality recon workers that have the potential for long-term employment. Many candidates ... [Read More]