Certified Pre-Owned

Group 1's Rickel talks trucks, residuals & more

CARY, N.C. - 

Consumers' increased interest in both trucks and SUV’s over sedans is a shift the industry will have to wrestle with even more this year, says John Rickel, senior vice president and chief financial officer of Group 1 Automotive.

“The overall industry, if you go back two years ago, had a 50/50 split between cars and trucks. Last year it got to 60/40 and this year could be 65/35 — that is a massive, massive shift in consumer preference,” Rickel said during  Group 1’s presentation at the Bank of America Merrill Lynch 2017 Auto Summit in New York last week, a webcast of which  Auto Remarketing viewed.

“Trucks and SUV’s are continuing to go from strength to strength. There’s a lot of customer demand there.”

He points to lower and affordable gas prices as the primary driver of the shift.

“If you can have the optionality of a bigger package — basically what a truck or SUV offers of you — most consumers are opting for that and the industry is struggling to catch up with that switch,” he said.

Used-car sourcing

During the presentation, Rickel said his group’s top source for used-cars are customers’ trade-ins.

“When we’re under pressure on the new vehicle sales, we’re not selling as many units — we’re not getting as many trades, and we have to go out to auction to supplement,” he said.

One downside,  Rickel said, is that going to the auction to buy inventory can be more costly over time, after factoring in all of the added expenditures dealers incur.

“You’re going to pay a little bit more, you’re bidding against other dealers, you pay an auction fee and you’ve got transportation costs,” he said.

Residual trends in segments 

In regards to sedans, within the used-car market in particular, there’s currently some pressure on residuals, according to Rickel.

“A lot of leases were written three years ago and that’s were a lot of volume is coming back,” he said. “We’re seeing a number of our OEM partners that have had to warn on residuals. You’re seeing them pull back somewhat on leasing.”

Rickel said he isn’t too strained about the residual values of trucks and SUVs.

Compared to sedans, trucks have a longer life and a number of consumers of have second order uses for them, he said.

In his 30 years of experience and the lease cycle he has seen, it has been rare that “you get a big, big falloff in truck residuals, so I’m less concerned about that,” Rickel said.

Specifically, if the rebound of the housing industry continues, he said it’s likely that construction workers use of trucks will increasingly secure their current standing in the market.

Rickel also added that if an infrastructure program comes from the Trump administration, it will presumably solidify truck sales as well.

Autotrader names top April CPO deals

ATLANTA - 

Autotrader’s list of the top certified pre-owned deals available this April names luxury brands only; the car shopping site’s picks for the month suggests that it is an ideal time for those interested in a CPO luxury vehicle to shop.

"Saving money is key for car shoppers and buying a CPO vehicle ensures you're not burdening yourself with any major system issues or major defects," Autotrader executive editor Brian Moody said in a news release. "If buying a used car leaves you anxious, consider buying a certified pre-owned vehicle, which includes a manufacturer-backed warranty for additional peace of mind."

The follwing is Autotrader editors'  list of top CPO program deals offered this month.

Acura

This April, Acura offers powertrain coverage for up to seven years or 100,000 miles from the original sale date as well as an added year of bumper-to-bumper protection. Autotrader said qualified shoppers interested in the brand’s MDX specifically can get a great deal on the model as well as buy CPO versions of the crossover with interest as low as 1.9 percent for up to 36 months.

Audi

Audi's CPO program is offering qualified buyers up to $1,000 cash back on select A8  models through the end of the month. The brand is also throwing in comprehensive coverage for up to six years or 100,000 miles from a vehicle's original sale date.

BMW

BMW currently offers shoppers up to six years or 100,000 miles of bumper-to-bumper coverage for most of its CPO vehicles. The BMW i3 is a plug-in electric car or hybrid is among them. “The best deal is for qualified shoppers looking to finance a certified pre-owned i3, as BMW is touting 0.9 percent interest for up to 36 months — an unusually low rate for the automaker,” Autotrader said.

Cadillac

This month, Cadillac offers terms such as a comprehensive, bumper-to-bumper warranty, which cover vehicles for up to six years or 100,000 miles from the original sale date. The brand is also offering qualified buyers 2.9-percent interest for up to 60 months on all SRX models. Autotrader said this is “a great deal for any used vehicle, and especially one with a long, manufacturer-backed warranty.”

Jaguar

Jaguar shoppers can obtain bumper-to-bumper coverage for seven years or 100,000 miles from the original sale date. This month, Jaguar is also offering its qualified customers 0.9-percent interest on all XF models for up to 24 months or and up to 60 months for CPO buyers who chose a 2014 or 2015 XF.

“Spring is finally upon us, and so are some great deals from leading auto manufacturers,” Autotrader said. “For car buyers, this is a good time to start searching for great prices on gently used, budget-friendly vehicles.”

Click here for additional information on the April CPO deals selected by Autotrader editors.

4 brands set CPO sales record to keep pace with off-lease volume

CARY, N.C.  - 

Four automakers posted new all-time highs for monthly certified pre-owned sales in March; a month where Autodata Corp. determined the industry turned the second-highest amount of CPO units ever.

And perhaps the industry will need other OEMs to join that performance level in order to keep up with the volume of off-lease vehicles hitting the wholesale market.

Autodata reported that four automakers — Fiat Chrysler, Kia, Maserati and Nissan — closed the first quarter with their highest CPO sales total ever for a single month. The firm indicated Fiat Chrysler turned 23,266 certified units as Nissan moved 18,509 CPO models. Kia recorded 7,513 certified sales as Maserati turned 79 CPO models.

In fact, Autodata mentioned to Auto Remarketing that Fiat Chrysler’s CPO sales total compiled during the first quarter also set an all-time high for the OEM, as its franchised dealers retailed 58,398 units.

All told, Autodata reported that dealers retailed 243,277 CPO units in March, off by just 0.3 percent year-over-year when the all-time sales record was established. That’s when the industry delivered 243,944 certified models.

The March figure also soared past the CPO sales total recorded during the previous month by 15 percent.

For the quarter, Autodata indicated the CPO sales figure came in at 647,373 units, edging 0.1 percent higher compared to the first quarter of last year. The amount also was 0.8 percent higher than the fourth quarter of 2016.

Analysts pointed out that there were 27 selling days in March of this year and last year as compared to just 24 in February of this year. The March sales figure computed into a daily selling rate was 9,010, according to Autodata.

Looking deeper at the March data on a year–over-year basis, analysts noticed that domestic brand share fell 1.8 percentage points to 35.4 percent, as European share increased 1.2 points to 16.3 percent. Autodata added the Asian share edged up 0.7 points to 48.3 percent.

No matter which brand has share, Edmunds senior analyst Ivan Drury explained to Auto Remarketing that it appears OEMs and their dealers are going to have to keep this record or near-record setting pace in order to keep off-lease units from sitting in inventory for too long.

“While we've seen a consistent rise in off-lease each year, it appears that CPO sales are not trending as closely with off-lease as once predicted,” Drury said. “This could be an indicator that we’ve begun to saturate the market. 

“CPO, on an overall level, is utilized as a way to distinguish and show differentiation from the rest of the used market, but as we have waves of relatively new vehicles of similar trim levels and mileage, it could be less of a selling point and just seen as added cost when there are so many comparables,” he continued.

Kelley Blue Book managing editor Matt DeLorenzo also looked cautiously at the relationship between off-lease wholesale volume and CPO retail trends.

“The glut of off-lease vehicles needs to be managed carefully because these are the units that provide most of the CPO inventory, thanks to annual mileage caps that make these vehicles more desirable and easier to warranty than high-mileage units,” DeLorenzo said. “These CPO units really don’t prime new-vehicle sales other than being able to flip the current lessee into a new vehicle. That used unit as a CPO becomes an entry-level vehicle to a buyer who may not be able to afford a new model of a particular brand.

“If incentives become so heavy that those buyers are able to actually afford a new vehicle, then yes, there will be an impact,” he continued. “However, manufacturers have the opportunity to manage their off-lease volume by storing cars (that’s already happening) to keep inventories down and prices and margins up. Dealers are more than happy on this count because their margins are usually greater on CPO than new vehicles.”

And as DeLorenzo mentioned, the incentive moves automakers are using to turn new models could leave a rippling impact over to the used department trying to retail CPO units.

“There is no question that huge rebates will have an effect on the used-car market, and CPO vehicles will not be immune to those pressures,” DeLorenzo said. “That said, there’s more to the CPO proposition than just price. Some rebates may be on only the entry-level versions of a particular model or may be offered regionally. A buyer may still opt for a better equipped CPO car that could come in at or just under the price of an all-new car with less equipment. And that’s not to say that makers will be looking to re-lease their CPO cars at attractive rates (this is a small slice of the market, but it could grow) or offer other non-cash incentives and spiffs like extended warranties and subsidized financing to make the CPO deal compelling.

“Still, we are likely to see prices trending downward on both CPO and non-CPO vehicles over the next year as some 3.1 million vehicles are expected to return to the market off-lease,” he continued. “However, overall CPO volumes may remain fairly stable because as a marketing tool these programs are expanding, so the growth in CPO with manufacturers offering or expanding their programs will probably mitigate against a dramatic drop-off in CPO activity.”

Drury also touched on how consumers are weighing the option of purchasing a CPO unit versus a new model, especially one that might have a substantial amount of cash on the hood.

“Consumers who shop both new and used/CPO vehicles are research-intense and tend to spend much greater amounts of time gathering information and searching inventory than those who strictly shop new or used,” Drury said. “Some of this stems from simply having more options, but for a consumer looking to get the best bang for their buck comparing used, CPO and new is vital.

“That said, each consumer also has a number in their head at which point the price premium for a new vehicle over a used/CPO is justified,” Drury went on to say. “Factoring in incentives does add a bit of complexity, but for vehicles with steep new-car discounts there is a much greater chance at hindering the ability to sell a CPO unit or even a standard late model used vehicle.”

Pressure building on ‘fair gap’ between new & used retail prices

CARY, N.C. - 

There remains a “fair gap” and “a good amount of play between” the typical retail price between a new vehicle and a used or even a certified pre-owned model.

However, Kelley Blue Book senior analyst Alec Gutierrez is seeing trends that are putting pressure on his current assertions.

Gutierrez mentioned during a call with the media earlier this week that the average incentive figure is above $3,500 per unit. ALG pinpointed incentive spending at $3,511 percent unit in March, climbing by $415 from a year earlier.

So the difference between similar models that are new versus nearly-new, CPO or whatever moniker a dealership salesperson might use is “tightening every day with incentives and dealer discounts,” Gutierrez said.

“I would expect to this trend continue,” he continued. “Used cars are going to come back in greater and greater volumes. Manufacturers are going to have to decide if they’re going to keep using incentives on the new-car side to maintain some form of competitiveness.

“Certainly if interest rates rise, that will shake things up even further,” Gutierrez went on to say.

And speaking of those interest rates, Edmunds mentioned that its analysis showed the average APR on installment contracts for new-vehicle deliveries in March reached 5.02 percent — the highest reading in seven years. This figure is up from 4.87 percent in February and 4.80 percent in March of 2016.

Edmunds executive director of industry analysis Jessica Caldwell pointed out the last time interest rates for new-model sales crossed the 5-percent mark was in February 2010.

“With high incentives, record inventories and interest rates at the highest we've seen in seven years, we're seeing a lot of signs right now that the tide is turning for the auto industry,” Caldwell said. “The training wheels that were put in place during the recession are coming off, and the industry is now being challenged to see if it can find the right balance on its own.

“While we’re not facing uncharted territory from a historical perspective, it will be interesting to see how the busy spring selling season unfolds as we navigate toward a more a normal pattern,” she added in analysis delivered to Auto Remarketing.

And, of course, the more levers automakers pull to keep new vehicles from piling up in inventory more than they already are, the more the potential impact on the used-vehicle market. The American International Automobile Dealers Association reported that average length of time a new model sat on a dealer’s lot hit 70 days in March — the longest stretch of time since July 2009.

“The industry’s performance in March suggests that sales may be plateauing,” AIADA president Cody Lusk said in a news release. “Now is the time for dealers to tighten their operations.”

ALG chief economist Oliver Strauss added in another news release, “Hefty incentives have negative impacts to resale values, and that can be even more potent in combination with a heavier mix of leasing being used across both the mainstream and luxury segments.”

During the media conference call, Autotrader senior analyst Michelle Krebs alluded to the segment of the retail equation likely to be most benefitting from the jostling between the new- and used-vehicle arenas — potential buyers.

“That adds another layer of complexity. Do you buy the new car or the nearly new car? There’s incentives being offered on some of the certified pre-owned vehicles. It’s going to take some really close shopping to get the best deal, and there are great deals and improving deals out there,” Krebs said.

March CPO sales just 0.3% away from all-time high

WOODCLIFF LAKE, N.J. - 

Autodata Corp. determined the industry in March turned the second-highest amount of certified pre-owned vehicles ever.

According to information shared with Auto Remarketing, dealers retailed 243,277 CPO units in March, off by just 0.3 percent year over year when the all-time sales record was established. That’s when the industry delivered 243,944 certified models.

The March figure also soared past the CPO sales total recorded during the previous month by 15 percent.

For the quarter, AutoData indicated the CPO sales figure came in at 647,373 units, edging 0.1 percent higher compared to the first quarter of last year. The amount also was 0.8 percent higher than the fourth quarter of 2016. 

Analysts pointed out that there were 27 selling days in March of this year and last year as compared to just 24 in February of this year. The March sales figure computed into a daily selling rate was 9,010, according to Autodata.

Editor’s note: Watch for upcoming reports from Auto Remarketing highlighting the new, recording-setting CPO sales figures certain automakers as well as industry reaction to how the certified market is behaving.

Autotrader reiterates pitches & promos to close March CPO turns

ATLANTA - 

With 10 sales days left in the month to move certified metal, Autotrader editors released their list of the best certified pre-owned offers available in March. For potential buyers looking to head into spring with the purchase of a like-new vehicle, the site said this could be the right time for dealers to help their customers upgrade the vehicle.

Autotrader executive editor Brian Moody reiterated the CPO sales pitch dealership personnel can relay to “ups” arriving at the showroom in person or virtually in the business development center.

“Certified pre-owned programs typically include an extended warranty and other incentives that provide long-term value, such as bumper-to-bumper coverage and exceptionally low interest rates,” Moody said. “These deals are the perfect option for a used-car shopper who wants the confidence of a new-car purchase."”

To assist dealerships and their customers, the editors at Autotrader highlighted the top monthly certified pre-owned deals, which include:

— Buick’s CPO program touts six years or 100,000 miles of powertrain coverage from the original sale date — a generous term. This month, Buick is also offering 1.9 percent interest for up to 36 months to qualified shoppers on three popular certified pre-owned models: the Enclave, Encore, and LaCrosse.

— Chevrolet’s CPO program offers an additional year of bumper-to-bumper warranty coverage beyond the factory term, and touts six years or 100,000 miles of powertrain coverage from the original sale date. This month, it’s even more appealing, as Chevrolet is offering 1.9 percent interest for up to 36 months to qualified buyers on several popular certified pre-owned models: the Cruze, Equinox, Malibu, Silverado, and Traverse.

— Ford’s CPO program is impressive, as it offers an additional year of bumper-to-bumper warranty coverage, along with seven years or 100,000 miles of powertrain protection from the original sale date. Through the end of the month, Ford is offering 2.9 percent interest for up to 66 months on all of its certified pre-owned models to qualified shoppers — an impressively long term for used vehicles.

— GMC's CPO program boasts excellent warranty coverage: in addition to one extra year of bumper-to-bumper coverage, GMC's warranty offers six years or 100,000 miles of powertrain protection from the original sale date. This month, GMC is sweetening the pot even further with a special interest offer for qualified shoppers: 1.9 percent for up to 36 months on all Acadia, Sierra, and Terrain models.

— Infiniti's CPO program is clearly among the best in the industry, as it offers excellent coverage that can, in many cases, last for six years — with no mileage limit — from the vehicle’s original sale date. Not offering a mileage limit is truly impressive, and Infiniti makes things even more enticing in March with an excellent low-interest financing offer. That deal boasts 0.99 percent interest for up to 36 months on all certified pre-owned Infiniti models to qualified buyers.

— Land Rover's CPO program boasts coverage for up to seven years or 100,000 miles from the original sale date. In March, Land Rover makes things even more appealing with a low-interest offer for qualified shoppers. Although the offer varies from model to model, it boasts 1.9 percent interest for up to 60 months on most 2013-2015 models -- and 0.9 percent interest over that term for the popular compact Range Rover Evoque to qualified shoppers.

— Toyota’s CPO program offers one year of bumper-to-bumper coverage, along with a powertrain warranty that covers vehicles for six years or 100,000 miles from the original sale date. This month, Toyota is sweetening that deal with several low-interest special offers — but the best deal is on the Prius. The hybrid model doesn't just get excellent fuel economy, but also touts interest rates from 1.9 percent for up to 60 months to qualified buyers — a new car deal with a new car warranty for a used car.

— Volvo’s CPO program touts bumper-to-bumper coverage for up to seven years or 100,000 miles from a car's original sale date — longer coverage than virtually every rival.  Volvo is offering a special finance rate in March. Through the end of the month, Volvo is touting 0.9 percent interest for up to 24 months on all certified pre-owned Volvo models to qualified buyers.

For additional details on the CPO programs mentioned, go to this website.

Kia rolls out new prepaid maintenance plan

DEERFIELD BEACH, Fla. - 

JM&A Group applauded Kia Motors America on Wednesday for the launch of its new prepaid maintenance plan — Kia Care Essential. The announcement came during the Kia National Dealer Meeting in Las Vegas.

In keeping with Kia’s initiative of providing customers “good,” “better” and “best” choices, the automaker added Kia Care Essential, a one-year 15,000 mile plan, to its line of Kia Care Choice Maintenance Plans — administered by JM&A Group — to offer Kia customers an affordable product.

Kia Care Choice Maintenance Plans offer vehicle owners multi-term mileage choices that best fit their needs and budget. Additionally, JM&A Group noted that selling prepaid maintenance plans for new and used vehicles in the F&I office or the service drive will continue to build customer loyalty and trust.

JM&A Group went on to mention the branded program also can help to strengthen positive customer relationships, boost CSI, and increase parts and labor sales.

“Prepaid maintenance plans are a proven driver of service retention, customer satisfaction, service and parts revenue, as well as overall repurchase loyalty,” said Greg Silvestri, executive director of service operations at KMA. “By partnering with JM&A Group, we were able to refine our prepaid plans, create new marketing pages on Kia.com, and seamlessly integrate into our owner communication platform to deliver relevant and timely service reminder notifications.”

In addition to branded prepaid maintenance plans, the lineup of Kia Distinction products also includes vehicle service contracts, term care select, road hazard tire and wheel, paintless dent removal, certified pre-owned and CPO wrap. Today, Kia also has one of the fastest growing CPO programs with 65 percent of branded CPO owners returning to the brand for their next vehicle purchase.

“We are committed to providing Kia with quality F&I products and services that support their efforts to increase customer retention and revenue,” said Brian Walwyn, vice president of field sales operations at JM&A Group. “Our dedicated associates will continue to work with Kia on developing other growth opportunities to further improve performance and market penetration.”

3 economists dissect current CPO market condition

LAS VEGAS - 

As one wholesale market economist called the certified pre-owned market one of the “good guys,” another economist specializing in the wholesale space offered a recommendation to make the CPO segment even better, especially for franchised dealerships.

KAR Auction Services chief economist Tom Kontos, NAAA chief economist Ira Silver and Cox Automotive chief economist Tom Webb participated in a panel discussion at the recent Conference of Automotive Remarketing in Las Vegas where the dialogue eventually turned to the CPO market, which generated retail sales of 211,475 units in February, according to Autodata Corp.

Autodata also pegged year-to-date sales of certified units at 404,076 as eight automakers that often generate some of the largest CPO volume are off to strong starts again in 2017.

“It’s been one of the real good guys for all of us here in the remarketing industry that we’ve had such an acceptance and growth in CPO sales,” Kontos said in light of February’s figure representing a 9.8-percent rise on a sequential basis. “It’s really been a demand side supporter for residual and resale values of used vehicle.

“Things will tend to plateau,” he continued. “It’s now just under 20 percent of franchised dealer used-vehicle sales are CPO sales. There’s probably an upward limit to how much more that can grow. But I do expect modest growth in 2017 in CPO sales and that will continue to support used-vehicle values.”

The year-to-date figure bolstered Kontos’ point as the total represented just a 0.4-percent lift compared to the first two months of last year. 

In his commentary associated with the release of the February Manheim Used Vehicle Value Index, Webb explained how the fact that CPO car sales softened by 5 percent in February while CPO truck sales climbed 5 percent supports the theory that CPO sales growth is possibly being restrained by small potential gross profit lifts in certain segments. 

Webb went on to point out the theory is further supported by the 10-percent decline in domestic brand CPO sales, a 1-percent increase for mid-line imports and a 15-percent increase for luxury units.

During the CAR Conference, Webb said, “I think that supports my theory that one of the reasons why a dealer decides not to certify a unit is because margins are so skinny. They don’t see a lot of potential lift.

“It supports that theory that you’ve got to have some gross,” he went on to say. “It’s not like these cars weren’t sold as used. It’s the dealer who makes the decision whether it’s a CPO or not. They decided not to certify because the margin were so skinny. Dare I make a recommendation to those involved in your OEM’s CPO program, you have to remember that you have to leave a profit for the dealer.”

Interest rate impact

With the likelihood those CPO turns are likely to be financed by the buyer, Kontos, along with Silver, briefly touched on any actions taken by the Federal Reserve involving interest rates might do to activities in the F&I office.

“The prospect is very likely that interest rates will move up,” Silver said. “That’s a negative for subprime, but it doesn’t look like the increase will be too drastic. I think the Fed wants to turn this (low-rate accommodation) off but not fight too much against growth.”

When the Fed has modified interest rates, it’s been by 0.25 percent. Chair Janet Yellen signaled a similar move could be made when the Federal Open Market Committee (FOMC) meets next week.

“The amount of increase is likely to be manageable for the auto lending space in that the auto lending space has traditionally been very competitive in their ways to manage their cost of funds. I don’t see the significant impact in the ability for the consumer to be able to borrow,” Kontos said.

Senior editor Joe Overby contributed to this report.

8 OEMs off to strongest CPO starts in 2017

WOODCLIFF LAKE, N.J. - 

A deeper look into the latest certified pre-owned vehicle sales information compiled by Autodata Corp. showed eight automakers that often generate some of the largest CPO volume are off to strong starts again in 2017.

Of those eight OEMs, each one has posted year-to-date CPO sales gains of at least 8 percent. Leading the charge in terms of an increase in actual units is BMW, which has turned 21,462 certified units in two months, according to Autodata. That figure represents a 27.3-percent lift year-over-year.

The other OEMs that are enjoying productive beginnings of their CPO sales year include:

—Acura: 7,298 units, up 31.4 percent

—Cadillac: 6,566 units, up 45.3 percent

—Honda: 38,639 units, up 8.8 percent

—Infiniti: 5,389 units, up 25.1 percent

—Kia: 11,940 units, up 22.1 percent

—Nissan: 30,622 units, up 8.5 percent

—Volvo: 2,814 units, up 21.0 percent

The single OEM with the highest CPO sales figure through the first two months of the year is Toyota. Autodata indicated the automaker turned 61,833 certified units in January and February.

Besides Honda and Nissan, the other two automakers to move at least 30,000 CPO units during the first two months of 2017 were Ford/Mercury (32,882) and Chevrolet (38,045).

February CPO sales climb nearly 10% versus previous month

CARY, N.C. - 

While industry observers spotted some factors impacting new-car sales, franchised dealerships produced strong results in moving certified pre-owned vehicles as the industry generated nearly a double-digit gain on a sequential basis.

According to information supplied by Autodata Corp. on Wednesday, February’s CPO sales came in at 211,475 units; a figure relatively unchanged from the same month last year but it represented a 9.8-percent jump from January.

Autodata said year-to-date sales through February now sit at 404,076 units, marking a 0.4-percent lift versus the same juncture a year ago.

Analysts pointed out there were 24 selling days in February of this year and last year as well as January. That element meant the daily selling rate was 8,811.                                                                                                

Looking a little deeper into the figures, Autodata determined year–over-year domestic CPO brand share softened by 2.9 percentage points to 33.8 percent. Meanwhile, European share ticked up 0.6 percentage points to 16.9 percent. The Asian share also increased, rising by 2.3 percentage points to 49.3 percent.

Perhaps what helped to goose CPO sales in February was shopper traffic dealerships generated through their websites, especially potential buyers scanning inventory via a mobile device. Dealer.com, a Cox Automotive company based in Burlington, Vt., that runs 62 percent of the nation’s dealer websites, shared some insights this week.

“Overall traffic on our Dealer.com websites was strong in February — at a good level — although the level is roughly flat versus year ago,” Andy MacLeay, director of digital marketing at Dealer.com.

“What we are seeing is continued, strong migration to mobile,” MacLeay continued. “People seem to be on the lots, viewing data, comparing cars.  On President’s Day weekend, the spike in mobile shopping was 25 percent higher than last year and 34 percent higher than 2015.”

Editor’s note: Watch for an upcoming report from Auto Remarketing detailing the February CPO sales figures from of the leading automakers in the space.

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