Analysis
Wholesale vehicle values fall further than anticipated, but appear headed to normalcy, less volatility
Tuesday, Jan. 9, 2024, 07:59 AM
Joe Overby, Senior Editor
Though still well above pre-pandemic levels, wholesale vehicle prices closed 2023 with a larger than expected (or typical) decline, capping a two-year run of downhill movement. That’s according to separate analyses released Monday by Cox Automotive and Black Book. Cox Automotive’s Manheim Used Vehicle Value Index fell 7.0% year-over-year in December and dropped 0.5% month-over-month, […] [Read More]
Price decrease puts used Teslas in play for tax credit, report says
Monday, Jan. 8, 2024, 02:11 PM
Auto Remarketing Staff
The used electric vehicle market is growing, and perhaps more important, used EV prices are coming down, according to research from EV data and analytics provider Recurrent. The company’s Q1 Used EV Market Report found the average listing price of a 2017-2019 Tesla Model 3 has dropped below $30,000. That’s an important milestone because it […] [Read More]
COMMENTARY: What to expect at expos — NADA Show 2024
Tuesday, Dec. 19, 2023, 10:57 AM
Jennifer Sanford, Sanford Marketing Group
There are dozens of events providing education and value to retail car dealers. From the large NADA Conference and Exposition to the small factory or 20 Group meetings, they range dramatically in both value and cost. I have participated in hundreds of events, both inside and outside this industry as an exhibitor, sponsor or attendee. […] [Read More]
USED CAR WEEK 2023 PODCAST: 1-on-1 with CarDealershipGuy
Wednesday, Dec. 13, 2023, 03:06 PM
Auto Remarketing Staff
We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a conversation with Steve Greenfield of Automotive Ventures and the industry personality all over social media who is known as CarDealershipGuy. Listen to the episode in the window below. [Read More]
COMMENTARY: It’s decision-making time
Wednesday, Dec. 13, 2023, 02:20 PM
Robert Grill, CARFAX
It’s that time of year again to reflect on the past 12 months. As we navigate from one crisis to another, one reality shines through: We are one resilient industry. I mean come on, what else can they throw at us? Oh, yeah: 2024 is an election year! The used-car market is definitely showing signs […] [Read More]
Cox study shows dealership service lanes losing market share, consumer trust
Tuesday, Dec. 12, 2023, 02:33 PM
Auto Remarketing Staff
Dealership service departments are not only losing market share to general repair shops — they’re also losing the trust of consumers, according to the latest research by Cox Automotive. Cox’s new study, “Under the Hood: Opportunities and Challenges in the Service Industry,” found that while franchised dealerships are still vehicle owners’ top choice among service […] [Read More]
Cox Automotive’s Q4 dealer survey finds pessimism rampant
Friday, Dec. 8, 2023, 04:11 PM
Auto Remarketing Staff
Auto dealers have issued a vote of no confidence to the current U.S. economy. The Cox Automotive Dealer Sentiment Index for the fourth quarter of 2023 showed a sharp drop from Q3, which Cox analysts attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market, the two […] [Read More]