It was a challenging month in the retail used-car market, and the sales slowdown might not be over. Using data from its Dealertrack unit, Cox Automotive estimates that used-car sales at dealerships in September were down 8% month-over-month and fell 10% year-over-year. They were also … [Read More]

It was nearly two-and-a-half years ago and the used-car market was amid the early hard punches of the COVID-19 pandemic. That’s the last time that the Manheim Used Vehicle Value Index showed a year-over-year decrease, according to data from Cox Automotive. While used-car values are still well above where they were in 2020, September marked […] [Read More]

In each month of the third quarter, wholesale used-vehicle prices fell sequentially. That’s according to data and analysis around the latest Black Book Used Vehicle Retention Index, which dropped 4.1% in September, the third straight month-over-month decline. Still, the index, which came in at 176.5 for the month, was … [Read More]

Automotive dealers have pivoted in the wake of inventory shortages due to pent-up demand, chip shortages and other manufacturer shortages. This has skyrocketed the interest for pre-owned vehicles  —giving automotive dealers high incentives to find trade-ins or buy used vehicles at auction to stock their lots for the incoming buyers. It isn’t as simple as […] [Read More]

Chevrolet showed up in the heart of electric vehicle country one Friday in September to show off its Bolt EV and Bolt EUV (electric utility vehicle). The automaker aims to overcome a setback with its entry-level electric vehicle after it had to recall more than 140,000 because of a battery defect. Despite that glitch, General Motors […] [Read More]

Used-car sales are down, prices are up and pre-owned retail inventory continues to expand — slowly but surely. Cox Automotive chief economist Jonathan Smoke, senior economist Charlie Chesbrough and the Industry Insights team drilled down into these trends on the company's Q3 Industry Insights and Forecast Call on Wednesday. The team found that … [Read More]

Tough sledding continues in the used-car retail market. TrueCar is forecasting an 11% year-over-year decline in pre-owned car sales, with 3 million used cars sold. That’s off 4% from August. Granted, the year-over-year drop is … [Read More]

One consequence of rising used-car prices that might fly under the radar: increases in auto theft. Amid price conditions that make this activity more lucrative, vehicle and catalytic converter thefts and carjackings have impacted many U.S. cities with nationwide figures approaching levels not seen in 14 years. New analysis from the National Insurance Crime Bureau (NICB) […] [Read More]

If they’re not already, dealers may soon have a harder time getting used-car inventory than they did in late summer That’s according to the ZeroSum Market First Report, which is projecting that available pre-owned inventory at the end of September will be 1.15% lower than it was at the beginning of August. Data from ZeroSum, […] [Read More]

There’s a widening gap between wholesale and retail used-car prices, and it’s one that could end up helping dealers in the final months of the year. The mid-month reading of Cox Automotive’s Manheim Used Vehicle Value Index was down 2.3% from August on an adjusted basis, and just 0.6% higher year-over-year, according to a Data […] [Read More]