Last year, 57% of car buyers conducted most of their vehicle purchases online, according to an August survey from Cars.com. Several of those buyers decided on contactless home delivery from their local dealership. That is one of the top five trends advancing the auto space in 2021 and beyond, according to Cars.com, which said the […] [Read More]

Look for used-car sales to go slightly north of 40 million units in 2021 after a slower year in 2020. More specifically, TrueCar is forecasting 40.05 million total used-car sales for this year. On the new-car side, the company is projecting 16.0 million total sales this year, with 13.9 million of those being retail sales. […] [Read More]

In December 2019, we were celebrating a year of big digital growth in the wholesale industry. I had spent the year talking about how digital wholesale would soon reach a tipping point where the majority of purchases would be made by digital buyers, and adoption would start to grow at faster pace. We rang in […] [Read More]

The approval rate at Swapalease.com closed 2020 on a high note, prompting an “optimistic” outlook for this year. Site officials reported on Tuesday that the approval rate for applicants looking to take over a vehicle lease came in at the highest rate of the year in December, registering in at 72.7%. That reading to round […] [Read More]

After a downturn in 2020, the used-car market is expected to kick off a multi-year rebound in sales, with numbers expected to eclipse the 40 million mark in 2022, say analysts with Cox Automotive. According to Friday's Cox Automotive Industry Insights 2021 presentation, there was an estimated 36.7 million total used-vehicle sales in 2020. While that’s […] [Read More]

The long-term trend toward electric vehicles continues to solidify. But because of the pandemic, consumer anxiety might be shifting automotive priorities toward familiarity and affordability. According to a new report from Deloitte, that could be a reason why 74% of U.S. consumers are looking for a traditional internal combustion engine in their next vehicle. For […] [Read More]

The RVI Group has hired David McKay as vice president of business development and sales in the company’s passenger vehicle department. For the RVI Group, which offers residual value insurance and financial and analytical services, McKay’s responsibilities will include business development, which includes sales and product design. Auto industry asset value protection insurance products will be […] [Read More]

Used pickup truck sales remained strong and grew during the pandemic, as other segments declined. iSeeCars executive analyst Karl Brauer said consumers needed the pickups for work. iSeeCars.com, a car search engine, recently conducted an analysis of the most popular used and new cars across the country, and the Ford F-150 topped the list of […] [Read More]

In a year like no other, 2020 introduced a range of new factors that have driven long-term projections for determining future value retention in the luxury segment of the used-vehicle market. Supply chain issues driven by the COVID-19 pandemic disrupted production, which reduced supply as demand also plummeted over the course of the year. In […] [Read More]

Dealers have an underleveraged opportunity to impact customer loyalty and satisfaction, as well as their own bottom lines. How can they take advantage of the opportunity? By integrating insurance into the sales process. According to a new study from insurance marketplace DealerPolicy, which surveyed 300 dealership executives and 1,000 consumers who purchased a vehicle in the […] [Read More]