After three straight months of sequential gains to begin the year, wholesale vehicle prices appear to be slowing down in April. The mid-month reading of the Manheim Used Vehicle Value Index came in at 231.7, which was off 2.7% from March and 4% from the full month of April 2022, when adjusting for mix, mileage […] [Read More]

Service activity at franchised dealerships decreased in February but service revenue increased compared to the same month in 2022, according to data from Cox Automotive’s Xtime metrics. The rise in revenue was due to dealers providing more information about the entire repair process, Skyler Chadwick, director of product consulting at Cox Automotive, told Auto Remarketing. […] [Read More]

After being rocked by the COVID-19 pandemic, sales of certified pre-owned vehicles are back on the rise. During the past six months, most brands have seen growth in their CPO programs from both traditional and new sources as dealers decided to certify more of their used-vehicle inventory. In the current used-vehicle marketplace, that is a […] [Read More]

For the past few years auto dealers have enjoyed unprecedented market conditions with record profits in both new- and used-vehicle sales. However, excluding a brief reprieve in February and March, the tightening of the consumer market and the subsequent drop in wholesale values has created a dynamic where many operators are struggling to turn a […] [Read More]

Though it appears March did not continue the year-over-year gains from the first two months of 2023, certified pre-owned vehicle sales in the first quarter were close to 9% stronger than Q1 2022 numbers. That’s according to Motor Intelligence’s preliminary numbers as of Thursday that were provided to Auto Remarketing. Through March, there have been an estimated ... [Read More]

This feature is part of Auto Remarketing's upcoming "Beyond the Transaction" edition, which is the May print issue of the magazine.  It is available for Cherokee Media Group Premium subscribers now.  Bek Abdullayev says the driver shortage plaguing the auto transport industry is getting worse. Abdullayev is CEO of Super Dispatch, which he describes as […] [Read More]

Amid climbing new-car prices and interest rates, there’s growing reason for many consumers to choose an alternative. But without low-cost options in the new-car market, pre-owned may be the choice for many, it seems. Hard to believe that in early 2022, the average price of a lightly used late-model vehicle was actually 8.5% higher than its new-car counterpart, according to iSeeCars.com. But times have certainly changed ... [Read More]

As an added bonus for our CMG Premium subscribers, Cherokee Media Group is relaunching two previous staples of Auto Remarketing: — The “4 Questions With” series, where auto industry leaders will share their insights on overarching remarketing, used-car retail and auto finance trends through concise Q&As. — “Auto Remarketing Profile Series,” which will consist of long-form, […] [Read More]

For many reasons, dealers have been learning to do more with less over recent years. This challenge is coupled with an ongoing priority at dealerships to meet or exceed CSI goals, which requires a personalized high-touch approach to help win that customer relationship, support retention, and drive new sales. All together, these factors can put […] [Read More]

It appears that used-vehicle sales for 2023 will be stronger than projected a few months ago, resulting in a market that’s flat compared to 2022, rather than softer. Still, inventory and affordability remain ever-present challenges that dealers must navigate in pre-owned. Or as Cox Automotive senior manager of economic and industry insights Chris Frey put it in a call with the industry and media on Monday, “In the spirit of spring, the used market looks like ... [Read More]