Many electric vehicle skeptics are reluctant to consider the purchase of an EV until the availability of chargers is equivalent to that of gasoline stations. But that 1-to-1 ratio of charger availability to gas stations mindset tends to disappear among actual EV owners who live in single-family homes because many EV owners typically use EV home chargers to charge their vehicles overnight. That’s noteworthy because 53% of Americans ... [Read More]

Some 215,000 electric vehicles are expected to come off lease in 2026, which would be a 230% year-over-year rise following an expected 2% decline in 2025, according to J.D. Power. That’s part of what appears to be a “complicated” market for used EVs going forward — one that hinges on governmental policies, OEM decisions and other tentacles, the company said in its E-Vision Intelligence Report for October. Driving this expected off-lease surge of EVs is ... [Read More]

In 2012, Colin Li moved to Newark, N.J., from Hangzhou, China to study computer science with a career of goal of landing a computer programmer job with the likes of Microsoft or Google. Today, Li holds a master’s degree in computer science from the New Jersey Institute of Technology and is currently pursuing an MBA at New York University on a part-time basis. But his career path took a sharp turn ... [Read More]

Dalton Motors operates 50 auto dealerships in Mexico and three in the United States. But if you ask the company’s CEO Juan Carlos Rodriguez Villava about the Mexico dealerships, he will tell you he likes to think of his company in different terms. He elaborated on that as he talked about winning the International Dealer Group of the Year award, presented by Mach10 Automotive. The dealer group will be recognized at Used Car Week later this month. “We like the name, ‘international,’ but we like more the name North America,” said Villava, who works out of the company’s dealership group in National City in southwestern San Diego County, Calif. “I was born and raised proudly in Mexico, schooled here in the U.S., also have some school in Canada, so I personally feel like there’s no better region in the world than North America, for those three countries as a region.” He continues on that theme when asked to ... [Read More]

You would think that used-vehicle prices would be rising right now. After all, CARFAX opines in an analysis around its latest price index that supply of late-model vehicles has fallen (thanks to the 2021 leasing declines) and used-car demand has climbed thanks in part to lower interest rates and recent hurricanes have managed up to 347,000 cars — fueling the need for vehicle replacement ... [Read More]

Used-car profits soared during the pandemic. But as the market turns the corner toward the end of 2024, “used vehicles may be finding their new normal on profitability.” That’s just one key finding from the latest quarterly Presidio-NCM Average Dealership Performance Benchmark Report, which found that, pre-owned or otherwise, “the downward spiral in profitability for […] [Read More]

When Susan Gubasta’s dad first urged her to join the family-owned dealership business more than 30 years ago, she just wasn’t interested. After all, she reasoned, retail automotive was dominated by men who either sold cars or repaired cars and there was no career path there for her. Since she “wasn’t a math person,” working in the dealership’s accounting office wasn’t appealing either. Turns out that not only was Gubasta mistaken about joining the family business, it was ... [Read More]

Overall wholesale vehicle volumes are expected to increase more than 7% this year before dipping slightly in 2025 then resuming a climb toward an annual pace of 12 million units, according to a Cox Automotive forecast. The company projects 11.4 million wholesale units this year, up from 10.6 million in 2023, when volumes rose 19.1% from the trough of 2022. Cox Automotive anticipates a slight dip to 11.3 million in 2025, followed by increases the next four years, with the wholesale market reaching 12.1 million by 2029. And much of that will continue to ... [Read More]

he used-car business is tough for many dealers these days. Volume is down across the board. Economic conditions are far from ideal, and consumers are feeling anxious. The competition to acquire the right kind of inventory is intense. Steven Toyota isn’t immune to that pressure, but its used-car business is thriving thanks to ... [Read More]

The U.S. Marine Corp. might not be an official training institution for the auto-finance industry. But John Messiha used it nicely to become an executive with Bank of America, Capital One, Goldman Sachs, Uber and Bridgecrest Acceptance. “The first goal is mission accomplishment. Then the second goal is troop welfare. And you can’t do one […] [Read More]