People are getting back to work, but not at the pace experts are projecting for the economy, tangible consumer metrics and other intangible household conditions to improve quicker. Just a small fraction of expectations, private sector employment increased by just 167,000 jobs from June to July, according to the July ADP National Employment Report, which […] [Read More]

More evidence of a shift in demand from new vehicles to used: average listing prices for used vehicles jumped more than $700 from June to July, a period in which they normally would see a depreciation-fueled decline, according to Edmunds. Specifically, used vehicles had an average listing price of $21,558 last month, which was up […] [Read More]

These days, used cars take more than 37% longer to sell than they did in the four months leading up to COVID-19 pandemic, but some models — including three from Tesla — are bucking that trend, according to research from iSeeCars. For this study, the company analyzed more than 9 million new- and used-car transactions from […] [Read More]

Lower new-car inventory levels may have some consumers turning to the used-car market. That bears out in a couple of analyses released in recent weeks. According to Dealer Inspire internal data shared by parent company Cars.com, the used-car search share climbed 4.5 percentage points from March 23 to June 23, while new-car search share was […] [Read More]

It’s a good thing that dealerships and finance companies are known as a resilient bunch, because the COVID-19-clouded atmosphere they’re facing to retail vehicles and keep customers current on their contracts doesn’t appear to be improving quickly, no matter how much liquidity the Federal Reserve makes available. And that atmosphere has Congressional squabbling fog in […] [Read More]

Like many of us, cars are also getting older these days, too. According to IHS Markit, the average age of a car on the road is roughly one month higher than the 2019 average, coming in at 11.9 years. There are a few factors at play pushing this slight rise in age, but the company […] [Read More]

Used-car sales this month are likely to be down slightly from June, but beat-year ago figures by 9%. That’s according to the latest forecast from ALG, a subsidiary of TrueCar. Specifically, ALG is forecasting 3,759,781 pre-owned sales for July, which would be 1% softer than June but a 9% year-over-year-hike. Not to mention, according to […] [Read More]

Quite often in reporting the weekly ebb-and-flow of the retail used-car market, you can get some mixed results. Such is the case this week. The overall auto rebound “lost momentum” the week ending Saturday, Cox Automotive chief economist Jonathan Smoke said in his weekly video report released Tuesday. Still, used-car demand remains strong — certainly higher […] [Read More]

A little more than a week remains for your dealership to meet its monthly sales targets or your finance company to push toward portfolio growth objectives for July. Currently, deliveries are being completed and contracts are being bought at decent clips, especially considering how much the coronavirus pandemic has thrown grit into the industry gears […] [Read More]

In this episode of the Auto Remarketing Podcast, Joe Vitale, who is principal and global automotive sector leader at Deloitte Consulting, joins the show to talk with Auto Remarketing senior editor Joe Overby about Deloitte's report on "Restarting the Stalled Automotive Sector." For a recap of the full report, be sure to check out this story from Nick […] [Read More]