What will the impact of the COVID-19 pandemic ultimately have on used-car prices in 2020? That hinges on a number of factors. Depending on which of two scenarios play out, used-car prices could decline about 10% in coming months and then recover in the fourth quarter or fall by as much as 15% before starting […] [Read More]

Ally Financial is continuing to expand its commitments to online-only vehicle retailers as the coronavirus pandemic cripples the economy. On Monday, Vroom announced a $450 million inventory financing relationship with Ally Financial, broadening the floorplan financing it has provided to Vroom since 2016. Executives said the new agreement — finalized earlier this month — doubles […] [Read More]

Late on Monday, crucial updates from the U.S. Department of the Treasury and the Internal Revenue Service arrived about programs aimed to help both businesses and individuals through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Furthermore, the U.S. Chamber of Commerce created a guide to help small businesses, independent contractors and gig economy workers […] [Read More]

General Motors Corp. retained its position as the leader in automotive manufacturer loyalty in this year’s Automotive Loyalty Awards from information and analytics company, IHS Markit. The awards, which recognize OEMs and brands for their leadership in customer retention, are now in their 24th year. The program recognized automotive manufacturers and brands for top customer retention […] [Read More]

Even before the COVID-19 coronavirus became a pandemic and changed operational strategy in the auto industry, both the wholesale and retail segments of automotive were shifting towards increasingly digital futures that seemed poised to blend online and brick-and-mortar operations. With that fact in mind, Cherokee Media Group has developed a two-part white paper series on […] [Read More]

Automakers and their captive finance companies rolled out generous offers to keep new-vehicle deliveries going during the coronavirus pandemic; efforts such as 0% annual percentage rates for 84 months for well-qualified buyers. Perhaps, not quite to that generous level, some captives and other finance companies launched efforts to help used-vehicle financing, too, especially for certified […] [Read More]

The week ending March 22 represented the largest week-over-week decline in wholesale vehicle prices in at least 20 years — and most likely, it’s the largest decline ever, says Larry Dixon of J.D. Power Valuation Series. The 5% drop in wholesale prices last week was the largest in J.D. Power’s data set, which goes back […] [Read More]

The COVID-19 pandemic is already impacting the used-vehicle retail market, with sales for March — usually the year’s strongest month for pre-owned — expected to fall dramatically. And some expect full-year used-car sales could be 9% to 34% lower than original projections, depending on how the crisis plays out. At Edmunds, analysts are forecasting 2.5 […] [Read More]

Kevin Filan, vice president of marketing at Cox Automotive Inventory Solutions, joins the Auto Remarketing Podcast. He and Auto Remarketing's Joe Overby discuss some of the relief measures the company is making to help dealers as they deal with the fallout from COVID-19 and the transitions Cox Automotive has made. Plus, they review how dealers can […] [Read More]

Coming off consumer-connected improvements in February, analysts at Swapalease.com and Wantalease.com shared their latest findings for approvals for vehicle-lease transfer applications as well as the most favorable leasing deals currently available. The sites reported this week that several brands offered significant discounts on midsize cars and SUVs, likely a result of falling sales due to […] [Read More]