Chase Auto's Urness finds gold in seeing family, colleagues, customers thrive
Monday, Sep. 16, 2024, 03:43 PM
Future of the dealership buy-sell market remains unclear
Wednesday, Sep. 11, 2024, 02:51 PM
How wholesale vehicle supply & prices are behaving through 8 months of year
Tuesday, Sep. 10, 2024, 01:42 PM
Premium Articles
EV trends stand out in CBB’s 2023 Best Residual Value Awards
Thursday, Apr. 13, 2023, 11:47 AM
Sarah Rubenoff, Correspondent
Canadian Black Book’s annual Residual Value Awards, which were released earlier this spring, revealed some interesting movement in electric vehicle residual values.
It shook out that EVs are expected to hold more value after four years than their internal combustion engine car counterparts.
Specifically, the residual value average for EV winning cars is ... [Read More]
Beyond the Transaction: New tool to track service-to-sales metrics can boost new car sales by providing a KPI
Wednesday, Apr. 12, 2023, 04:29 PM
Alysha Webb, Correspondent
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. “The sales department sells the first car; the service department sells the second” is a well-known dealership saying. And the service department’s importance to […] [Read More]
Tennessee auction opens new facility amid seller’s market for wholesale real estate
Tuesday, Apr. 11, 2023, 04:34 PM
Sarah Rubenoff, Correspondent
In today’s environment, you hear about far more about mergers and acquisitions in the auction market than the creation of new physical facilities.
Often the more popular route for independent auction owners is to sell to larger auction chains or digital auction companies.
But Auto Remarketing wanted to see what was on the other side of the coin ... [Read More]
Beyond the Transaction: Wholesale appetite for reconditioning services remains strong
Tuesday, Apr. 11, 2023, 03:44 PM
Sarah Rubenoff, Correspondent
There may not be any sector in the auto industry where reconditioning is more important than the auction business.
When cars flow through the physical lanes or online sales, it is key they are in top condition to catch potential buyers’ eyes.
This is especially true as the digital auto auction industry continues to grow at a lightning pace. Strong reconditioning services can put buyers’ minds at ease, even if they can’t kick the tires before making a purchase ... [Read More]
Wholesale EV volumes climb 40% at Manheim
Monday, Apr. 10, 2023, 03:22 PM
Joe Overby, Senior Editor
While still a relatively small piece of the overall wholesale market, the tide is turning for electric vehicles at auction.
There were close to 9,800 electric vehicles sold through Manheim’s wholesale channels in the first quarter, an all-time high. It also beat year-ago figures by 40% and was 82% higher than Q1 of 2021, parent company Cox Automotive said during a presentation last week around the latest Manheim Used Vehicle Value Index.
The 9,796 EVs sold through Manheim in Q1 also ... [Read More]
Beyond the Transaction: More education for electric vehicle service advisors can improve customer satisfaction
Friday, Apr. 7, 2023, 09:39 AM
Alysha Webb, Correspondent
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.
It is available for Cherokee Media Group Premium subscribers now.
While they currently represent only about 6% of U.S. auto sales, battery electric vehicles are already making their impact felt in dealerships’ service departments. BEV owners’ dissatisfaction with their service experience helped pull down the overall score on J.D. Power’s 2023 U.S. Customer Service Index Study.
That needs to be fixed ... [Read More]
Beyond the Transaction: Inspection technology plus manual hands-on input equals reliable, accurate condition reports, auction executives say
Friday, Apr. 7, 2023, 09:30 AM
Arlena Sawyers, Correspondent
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine.
It is available for Cherokee Media Group Premium subscribers now.
When it comes to giving buyers and sellers accurate information about the condition of vehicles being offered for sale, auction companies are leading way with innovative artificial intelligence and machine learning technology coupled with traditional hands- and eyes-on inspections.
Doug Hadden, ACV vice president of field initiatives, said it boils down to this ... [Read More]
CPO vehicle sales up nearly 9% in Q1, preliminary estimates show
Thursday, Apr. 6, 2023, 01:00 PM
Joe Overby, Senior Editor
Though it appears March did not continue the year-over-year gains from the first two months of 2023, certified pre-owned vehicle sales in the first quarter were close to 9% stronger than Q1 2022 numbers.
That’s according to Motor Intelligence’s preliminary numbers as of Thursday that were provided to Auto Remarketing.
Through March, there have been an estimated ... [Read More]
Beyond the Transaction: Transport drivers still in the driver’s seat
Wednesday, Apr. 5, 2023, 03:53 PM
Daryl Lubinsky, Correspondent
This feature is part of Auto Remarketing's upcoming "Beyond the Transaction" edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now. Bek Abdullayev says the driver shortage plaguing the auto transport industry is getting worse. Abdullayev is CEO of Super Dispatch, which he describes as […] [Read More]
Affordability concerns in new-car market may push many consumers to used
Wednesday, Apr. 5, 2023, 03:04 PM
Joe Overby, Senior Editor
Amid climbing new-car prices and interest rates, there’s growing reason for many consumers to choose an alternative. But without low-cost options in the new-car market, pre-owned may be the choice for many, it seems.
Hard to believe that in early 2022, the average price of a lightly used late-model vehicle was actually 8.5% higher than its new-car counterpart, according to iSeeCars.com.
But times have certainly changed ... [Read More]