Shifting consumer trends are changing the way car dealerships do business in the 21st century. As more consumers buy cars online, many dealerships are forced to compensate for thin profit margins, sometimes even by selling company land to make ends meet. These unique challenges underscore the growing need for industry-wide adaptation. The analog tools that […] [Read More]

Findings from the End of Year Car Shopping 2022 study from Cars.com indicate that buyers in the market for a vehicle are more likely to opt for new than used, but there was some good news for the pre-owned operations at dealerships. Namely, a good chunk of buyers plan to bring … [Read More]

Perhaps some upbeat news about what could be classified as the used-car manufacturing front. Cox Automotive chief economist Jonathan Smoke reported on Monday that combined new-model sales into large rental, commercial and government fleets rose 55% in November compared to a year ago. In what might be good for used-vehicle inventory availability down the road, […] [Read More]

That consumer who has put off buying a used car until prices ease may now be more eager to make a purchase. New-car incentives are at their lowest levels in 12 years, according to TrueCar, which predicts December incentives will average just over $1,000. That’s down from $2,000 in 2021 and $4,000 just three years […] [Read More]

In another episode of the Auto Remarketing Podcast originating from Used Car Week 2022, Stephane Ferri and Lauren Donalson of PureCars discussed the most interesting and successful dealership advertising campaigns they’ve seen this year. And the PureCars pair also gave a glimpse of the new solutions the company is set to launch in 2023. To […] [Read More]

Used-car sales this month are likely to be consistent with October’s figures, but fall 13% year-over-year, according to a forecast released Wednesday by TrueCar. The company is projecting just under 3 million used-car sales for the month. Looking at other pre-owned data points from the report, TrueCar said used-car deals had an average interest rate […] [Read More]

As electric vehicles sales rise, so will the number of used EVs on the market. Two panels at Used Car Week earlier this month addressed the importance of determining EV residual values and how subscription services will play a role in EV adoption. “The time is now for EVs,” said EY partner and eMobility automotive leader […] [Read More]

The jury is still out on how November fared in the overall used-car and certified pre-owned markets, but recent industry analyses paint a clear picture of how the fourth quarter has started. Beginning with CPO, there have been 2.04 million certified pre-owned vehicle sales through 10 months of the year, according to an analysis of Motor […] [Read More]

Sourcing used inventory was the common focus of two panels during Used Car Week, and some key themes emerged from “The New Consumer Journey Horizon and “Smarter Used Vehicle Buying” discussions during the event this month in San Diego. Acquiring used vehicles directly from consumers is becoming an increasingly important channel for dealerships and it […] [Read More]

J.D. Power released its 2023 ALG Residual Value Awards last week, and topping the mass-market brand rankings for the second year in a row was Honda, while Lexus earned best premium brand honors for the third straight year. Breaking it down by segment, Kia earned five model-level awards to top the list, with Honda and […] [Read More]