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]

KAR Global made another move late on Tuesday to help dealers navigate through the challenges of the coronavirus pandemic. Business unit Automotive Finance Corp. (AFC) immediately launched its customer relief program as eligible customers can choose to defer curtailment payments due through May 31 on eligible unsold units, including principal, fees and interest on those […] [Read More]

NextGear Capital is offering a relief package to support independent dealers during the COVID-19 crisis. Among those measures are base rate reduction by 50 basis points, deferred curtailment and extension payments for eligible floorplan advances and no late fees. Company president Scott Maybee stated in a letter to the dealers that he hoped the measures “can […] [Read More]

According to a new study measuring the usefulness of U.S. automotive third-party websites during the process of shopping for a new or used vehicle, Autotrader and Kelley Blue Book rank highest in a tie in the desktop segment, with a score of 790 out of 1,000. But according to the J.D. Power 2020 Automotive Website […] [Read More]

The first month of 2020 was the strongest January for the certified pre-owned market in a decade. February then beat those sales by 10%. That’s according to Monday’s Data Point report from Cox Automotive, which, citing Motor Intelligence, said there was 238,229 CPO sales in February. That beats year-ago figures by 13% and puts year-to-date […] [Read More]

Visits to electric vehicle segment websites were up 92% last year, according to research released by Comscore earlier this month, and the upswing was especially strong for Rivian Automotive. Website visits for the automaker were up 296% year-over-year in 2019, with Rivian’s first vehicle announcement (R1S) generating substantial interest, according to Comscore. No other automaker […] [Read More]

As the potential coronavirus impact continually grows, a wide swath of industry associations representing dealerships and repair shops are urging federal, state and local officials to consider the importance of motor vehicle supply and repair facilities in implementing orders to close nonessential businesses as a result of COVID-19.  The actions began with John Bozzella, president […] [Read More]