Analysis

It was March momentum for the retail used-car market. In a month were days-to-sell plummeted (more on that later), franchised and independent dealers combined to sell an estimated 1.66 million used vehicles, which was a 10.9% gain from March 2023 and up 18.5% from February, according to Cox Automotive. Through three months of 2024, dealers […] [Read More]

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. During discussions with vehicle transport industry representatives, a common theme emerges: The industry has lagged behind the freight shipping industry in the area of technological innovation. “They have been a lot more tech forward than us historically,” said Mike Scenna, vice president of sales and operations for Preowned Auto Logistics. “We often say we’re 10, 15 years behind the freight side of the house,” said Joe Kichler, vice president of logistics for Cox Automotive. But that seems to ... [Read More]

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.  Dan Kennedy says the volume vs. capacity situation in auto transport seems to be on the mend. “For a while, [there was] more volume than capacity, but now it seems like things are starting to align,” said Kennedy, who is senior vice president of business development for CT Services. “Loads seem to be moving a little faster.” Joe Kichler agreed that capacity is a top transport industry issue, saying “we’re starting to see volume come back.” Capacity and available drivers are down from pre-pandemic levels, he said, especially on the wholesale side. “But depending on how quick that comes back and some of the new technology, there are going to need to be ... [Read More]

It’s decision time, crafting a long-term plan versus making short-term gains. First, we need to look at our “short-term gain” decisions we made back in 2020. New cars were at a premium that year, and many dealers decided to “make hay while the sun shines” so, according to NADA, as a result, the new per-vehicle […] [Read More]

Where’s the most EV-friendly place to own a home? Not surprisingly, it’s in California, according to a report from Realtor.com and Cox Automotive. In fact, the 2024 Realtor.com Housing Market and Electric Vehicle Report found three of the top 10 and eight of the top 20 housing markets for EV ownership are in the Golden […] [Read More]

Amid an ocean of affordability challenges in the used-car retail market, a droplet of “hope” remains. In fact, Kevin Roberts of CarGurus said it’s possible for average used-car prices to show a double-digit-percentage decrease, even as headwinds keep them above pre-COVID levels. “While it’s still challenging to find that elusive affordable car, there’s hope for […] [Read More]

Regardless of the obstacles, dealership groups are determined to keep growing. That’s the big takeaway from Kerrigan Advisors’ newly released 2023 Blue Sky Report, which showed dealership buy-sell activity up 6% year-over-year, with a record 397 completed transactions in 2023. Among those sales, the sell-side advisors for auto dealers said, was the third-largest transaction in […] [Read More]