It was another record for the Manheim Used Vehicle Value Index. This metric measuring wholesale used-car prices has now hit all-time highs for two straight months, as a near 6% sequential lift in wholesale values pushed the index to 158.0, according to parent company Cox Automotive. That reading beats year-ago figures by 12.5% and is […] [Read More]

Our friends from Black Book join us for this episode of the Auto Remarketing Podcast. We talk with Susan Moritz, Alex Yurchenko and Laura Wehunt about the ebb-and-flow of the retail and wholesale used-car markets, the COVID-19 impacts on the ancillary services piece of the industry and current projects at Black Book. To listen to this […] [Read More]

While some “details were generally encouraging,” experts are continuing to project that it will take some time before dealerships and finance companies see the amount of gainfully employed workers making vehicle purchases as they did back in February. Those experts dissected the July jobs data from the U.S. Department of Labor, which reported on Friday […] [Read More]

The recovery in pre-owned sales continued in July, with Cox Automotive’s 13-month rolling used-vehicle SAAR climbing from 36 million in June to 38 million last month. The company estimates in a Data Point report released Thursday that there was a 4% year-over-year decline in used-vehicle sales for July and that the month’s SAAR fell from […] [Read More]

People are getting back to work, but not at the pace experts are projecting for the economy, tangible consumer metrics and other intangible household conditions to improve quicker. Just a small fraction of expectations, private sector employment increased by just 167,000 jobs from June to July, according to the July ADP National Employment Report, which […] [Read More]

More evidence of a shift in demand from new vehicles to used: average listing prices for used vehicles jumped more than $700 from June to July, a period in which they normally would see a depreciation-fueled decline, according to Edmunds. Specifically, used vehicles had an average listing price of $21,558 last month, which was up […] [Read More]

These days, used cars take more than 37% longer to sell than they did in the four months leading up to COVID-19 pandemic, but some models — including three from Tesla — are bucking that trend, according to research from iSeeCars. For this study, the company analyzed more than 9 million new- and used-car transactions from […] [Read More]

Mike Albert entered the vehicle-subscription business on Tuesday. The company with roots in the fleet and rental spaces for more than 60 years announced that it now offers a monthly subscription vehicle service to customers living within a 75-mile radius of its flagship location in Evendale, Ohio, which is northeast of Cincinnati. Mike Albert explained […] [Read More]

Lower new-car inventory levels may have some consumers turning to the used-car market. That bears out in a couple of analyses released in recent weeks. According to Dealer Inspire internal data shared by parent company Cars.com, the used-car search share climbed 4.5 percentage points from March 23 to June 23, while new-car search share was […] [Read More]

It’s a good thing that dealerships and finance companies are known as a resilient bunch, because the COVID-19-clouded atmosphere they’re facing to retail vehicles and keep customers current on their contracts doesn’t appear to be improving quickly, no matter how much liquidity the Federal Reserve makes available. And that atmosphere has Congressional squabbling fog in […] [Read More]