There are nearly twice as many consumers per month using mobile devices for vehicle research as those using desktop computers. But whether a car shopper picks up their smartphone or fires up the computer may depend on what car-shopping task they’re completing, their age and even what car brand they’re researching. That’s according to researched released […] [Read More]

Used-vehicle sales this month are on track to beat year-ago figures by 4% and top July’s numbers by 2%, according to a forecast released Tuesday by ALG. Specifically, the analytics division of TrueCar is calling for 3.6 million used-vehicle sales for August. ALG chief industry analyst Eric Lyman said the year-over-year gain in used-car sales […] [Read More]

Same-store used-vehicle sales for the six publicly traded dealer groups fell a combined 11.2% year-over-year in the first half of 2020, Cox Automotive data shows, but there is still a silver lining to take away from that metric. Pre-owned operations for the public retailers are faring better than their new-car sales, and their decline in used-car […] [Read More]

Especially for dealerships in larger metropolitan areas where public transit is more prevalent, a new Cars.com study reinforced how valuable vehicles are to consumers nowadays — particularly ones who have made a purchase since the coronavirus pandemic began. Based on the individuals who participated in the Cars.com survey conducted earlier this month, 21% of respondents […] [Read More]

On Wednesday, the Federal Open Market Committee (FOMC) at the Federal Reserve released minutes from its July policy meeting that indicated: “Participants agreed that the path of the economy would depend on the course of the virus, which was seen as highly uncertain.” According to just-released data from consumer intelligence firm Resonate, a leading provider […] [Read More]

Dealers are paying high-dollar to get the supply needed “to meet the surge in demand for used cars,” leading to a more than 16% rise in the average value trade-ins are fetching, according to Edmunds. And while they’re shelling out money to get used inventory, it may be the most efficient route for dealers to find […] [Read More]

Alex Fraser, a well-respected auto industry veteran, once said “never bet against a car dealer” during a NADA panel Q&A. He humbly gave credit for the quote to his friend, Todd August. It appears both gentlemen may have just been validated.  Analysts have recently issued investment advice that would be unthinkable just a few months […] [Read More]

In March of this year, I wrote a piece on “Eight Reasons for Pre-Owned Optimism.” It was a sparsely shared sentiment at the time and admittedly, my finger was twitching before I hit send. I knew if I was wrong it would be in print forever, but I felt I had to give my “glass-half-full” […] [Read More]

The coronavirus outbreak will finally accelerate the growth of online purchases within the automotive industry. Today, the march to digital is still taking place at a surprisingly restrained rate. Over the last few weeks, I’ve spoken with 50 car dealerships and only three felt that their digital efforts were meaningfully driving online sales results. The […] [Read More]

While some industry metrics are moving more significantly, Swapalease.com is seeing only modest changes in approval rates for consumers using its site to secure a short-term transportation solution. Site officials reported earlier this week that lease credit applicants registered a 65.1% approval rate in July, a slight decline from the June rate of 67.1%. Swapalease noticed […] [Read More]