Sales of electric vehicles (EVs) in the U.S. showed a sharp jump in sales, increasing by two-thirds in 2022, while the remaining portion of the auto market contracted. According to a report in the Wall Street Journal, carmakers sold 807,180 fully electric vehicles in the U.S. this past year, equating to 5.8% of all vehicles […] [Read More]

There is something surreal about today's retail automotive market. Assumptions, once taken as articles of faith, are not only being questioned but also discredited altogether. Take, for example, the role vehicle leases have traditionally played in creating a win-win-win value proposition that has well-served consumers, dealerships, and automotive manufacturers for decades. For consumers interested in […] [Read More]

The sky is not falling in the used-car market, but certainly the expectation is for another challenging year in sales. Brighter days may be on the horizon, but the year appears to have started on a bumpy note. TrueCar is forecasting … [Read More]

Nearly 25% in 17 days. That’s how far prices on late-model pre-owned Teslas fell at the outset of 2023 compared to their June 2022 peak, according to data from Edmunds. After the automaker announced price cuts on Jan. 13, Edmunds examined, among other metrics, the impact on listing prices for used Teslas and the … [Read More]

Funny thing happened when gasoline prices surged in early 2022. A surprising number of luxury car owners traded-in their internal combustion engine Lexus, Mercedes-Benz, BMW and Audi vehicles for electrified Ford Mustang Mach-E, Hyundai Ioniq 5 and Kia EV6 SUVs. So says a recent Edmunds study which lays out “Four Major EV Trends to Watch” […] [Read More]

Since the COVID-19 pandemic hit in early 2020, the talk has been of tight used-car inventory, new-vehicle production shortages and high prices for both used and new. The tides are finally turning, albeit slowly. That said, inventory acquisition for used inventory is still an issue for many dealers.  And trade-in appraisals, reconditioning costs and valuation […] [Read More]

Electric vehicles. Yes, the market is growing. And the overall EV market bears considering. But what does the used-vehicle market EV look like? What does the data show? What is changing, and is it expanding? That’s what Auto Remarketing considers here as we preview an upcoming session at the NADA Show 2023 in Dallas, from […] [Read More]

For dealers looking to obtain used-car inventory at lower prices than they did in 2022, the year appears off to a good start. And weary consumers scouring dealer lots for good pre-owned car deals after two years of wildly high prices are starting to find some relief, as well. Though up 1.5% from December, wholesale vehicle prices through […] [Read More]

Electric vehicle sales are the talk of the town — or at least the auto industry at large and even in the auction lane. Overall new- and used-vehicle sales fell as 2022 ended, but EVs followed a different path. During a recent call with the auto industry and media, Cox Automotive cited data from its […] [Read More]

For a typical internal combustion engine vehicle, the deterioration of its components can be thought of as “lots of paper cuts” that occur over the car’s lifetime, says Recurrent CEO Scott Case. But for an electric vehicle, its component degradation is typically, “noting, nothing, nothing and then ‘WHAM!’ whenever the battery fails,” Case said. “If […] [Read More]