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Work Truck Solutions: Q2 used sales rise as average price for new models sets new record
Wednesday, Jul. 24, 2024, 02:22 PM
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Edmunds on Tesla trades & other parts of current EV market
Tuesday, Jul. 23, 2024, 02:34 PM
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EVs & millennials: More mature than you might think
Tuesday, Jul. 23, 2024, 08:00 AM
Analysis
Volatility leads to ‘almost unrecognizable’ used-car pricing
Friday, Jul. 26, 2024, 03:42 PM
Joe Overby, Senior Editor
It hasn’t had quite the swings of, say, electoral politics in the past decade (or past month). But the ups-and-downs of used-vehicle prices in the last five years might rival the volatility of any other industry. According to the latest Industry Insights Report from Cars Commerce, the monthly average list price for used vehicles from […] [Read More]
COMMENTARY: Why it’s important for dealers to understand their ‘carryover rate’ when it comes to inventory risk management
Friday, Jul. 26, 2024, 01:01 PM
Len Short, Lotlinx
Auto dealerships face a perpetual challenge: balancing inventory to meet customer demand without overstocking, which can lead to carryover inventory. Carryover inventory — vehicles that remain unsold for extended periods — ties up capital, incurs holding costs, and often requires discounting and markdowns to clear off the lot. This scenario impacts profitability and creates a […] [Read More]
Soaring auto insurance costs ‘a big problem’ for dealers’ sales
Thursday, Jul. 25, 2024, 02:02 PM
Andrew Friedlander, Associate Editor
Affordability is an issue car dealers have been battling daily over the past couple of years as retail prices for used and new vehicles soared to unprecedented highs.
This year, though, those prices have been falling steadily while, as noted by Cox Automotive’s analysts in their 2024 midyear review, consumers’ incomes are rising. And yet sales growth has been slow.
Turns out it’s not just about the price of the car ... [Read More]
Repo volume in wholesale climbs double digits in first half, but growth expected to slow
Thursday, Jul. 25, 2024, 01:43 PM
Joe Overby, Senior Editor
There were 3.41 million units sold at auction in the first half of the year, which is an 8% hike, according to AuctionNet data from the National Auto Auction Association.
But the oldest contingent of that group showed even steeper growth: Auction sales of vehicles 11 years and older climbed 11% in the first half of 2024, NAAA said.
The reason?
It’s repo. [Read More]
Lane watch: Both auction conversion rates & retail days to turn on steep upward trajectories
Wednesday, Jul. 17, 2024, 03:38 PM
Auto Remarketing Staff
According to Black Book’s tracking, dealers are buying more vehicles at auction nowadays, but they’re also needing almost two additional weeks to get those cars retailed. Among two of the most interesting parts of the newest installment of Market Insights, Black Book reported the auction conversion rate increased last week to 61%, representing a 3% […] [Read More]
Even with disruptions from software outage, dealers lift used-car sales in June
Tuesday, Jul. 16, 2024, 04:40 PM
Joe Overby, Senior Editor
It’s possible the outage at CDK Global didn’t just limit the actual sales of used vehicles in June. The crisis may have affected the reporting of the pre-owned vehicle sales that did happen.
In fact, Cox Automotive found that “reporting was more disrupted than actual sales,” but noted that July will likely make up for June’s disruption in the used-car market.
And even with disruption, dealers increased ... [Read More]
Demystifying the myths: Realities of vehicle markdowns in the auto industry
Tuesday, Jul. 16, 2024, 09:49 AM
Jason Knight, Lotlinx
The practice of markdowns has long been a cornerstone of retail strategy across various industries, and the auto sector is no exception. Historically, the manufacturer’s suggested retail price (MSRP) has been a constant part of a vehicle’s pricing, and an important element of the car-shopping process for consumers despite changing economic trends over the years. […] [Read More]