Consumer interest in used electric vehicles has more than doubled year-over-year, and many of those with an EV trade-in are apparently pleasantly surprised at what their trade fetches. Though the industry is still working to solve challenges in the pre-owned EV space —  like battery health — both of those findings from the second annual […] [Read More]

Even though some automakers have expanded certified pre-owned vehicle eligibility to include older model-years, dealer demand for the late-model vehicles that have historically been the bread-and-butter of CPO programs remains strong. And their values in the wholesale market are climbing in early 2023. That’s according to the latest Kontos Kommentary report from ADESA chief economist […] [Read More]

Given current market dynamics and the way supply and prices have behaved in recent months, dealers may be wise to grab more used cars and sell them quickly. According to the ZeroSum Market First Report released Thursday, the last four months has been a rollercoaster in ... [Read More]

Wholesale vehicle prices closed 2022 having declined sequentially for seven months in a row, reaching at average of $14,316 for December, which was down 0.9% month-over-month and 11.8% year-over-year, according to ADESA chief economist Tom Kontos’ analysis of the market. Since then, Kontos said by phone Wednesday, wholesale prices have risen approximately $1,500, as values so far in March are around $15,500. But dealers are ... [Read More]

Jessica Stafford, senior vice president of consumer solutions at Cox Automotive, returns to the Auto Remarketing Podcast for an enlightening conversation on gender equity in the auto industry. In an interview with Cherokee Media Group’s Joe Overby, Stafford shares her perspective on the progress that has been made in recent years and where improvement is […] [Read More]

To a consumer, the dealer is directly responsible for the price of a vehicle being too high: “The dealer is trying to make too much money off of me!” As a dealer, you can’t afford to get mad at them, after all, they only know what they hear: “Dealers are charging over sticker price! Dealers […] [Read More]

In the wake of the global pandemic, the past three years have been filled with tragedy, angst and challenges. The reaction to these unprecedented circumstances proved yet again that auto retailers are among the most resilient and resourceful businesspeople on the planet. Somehow, in the most oppressive retail environment any of us can remember, auto […] [Read More]

The change in wholesale vehicle prices — which in February, according to Black Book, climbed sequentially for the first time since June — is impacting what those used cars are fetching in the retail market. The month-over-month increase in wholesale values, along with decreasing supply and a consumer appetite for lower-priced used cars, helped push […] [Read More]

General Motors had a reason to celebrate some of its franchised dealers on Monday. The 2023 Pied Piper PSI Internet Lead Effectiveness (ILE) Study — which measures responsiveness to Internet leads coming though dealership websites — showed Cadillac dealerships ranked highest. Following Cadillac were Infiniti, Volkswagen, Subaru, Toyota and Volvo. “Auto dealers industrywide were quicker […] [Read More]

Toyota has won Kelley Blue Book’s “Best Resale Value: Brand” award for the seventh time in 10 years, while corporate sibling Lexus has earned its fourth overall and second consecutive “Best Resale Value: Luxury Brand” title. KBB, which is part of Cox Automotive, announced 2023 model-year winners of its Best Resale Value Awards on Monday, […] [Read More]