Some used-vehicle dealers jack up the pricing on their fresh inventory to offset the lack of gross on their aged vehicles. Don’t do that. And don’t advertise your vehicles online without double-checking the pictures and descriptions, either. Unfortunately, those are just two of the many “don’ts” Jasen Rice has seen dealers commit since he started […] [Read More]

Market data can help car dealers make decisions around inventory. But they should be careful, as that data might not tell the whole story, says CarStory president and chief product officer Chad Bockius. In this episode of the Auto Remarketing Podcast and in CarStory's latest whitepaper, Bockius explains why. The whitepaper, titled "Avoid Being Average: […] [Read More]

More than a year later, Hurricane Harvey still is influencing how wholesale prices and used-vehicle sales are analyzed. The record-setting storm that blasted Texas created comparisons that might make metrics appear odd. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used-vehicle prices in September averaged $10,981 — […] [Read More]

Dealers hailing from the land of the Midnight Sun and harsh winters now can offer their customers extra protection to help vehicles last longer. On Thursday, Preferred Warranties (PWI), a business unit of KAR Auction Services, announced the company’s expansion into Alaska. In Alaska, PWI has partnered with American Auto Shield to offer a broad portfolio of […] [Read More]

If you just turned a used Ford pickup or a certified pre-owned Chevrolet crossover, there is a strong chance it’s because your dealership customer just saw some form of branding campaign pushing the Blue Oval or the Bowtie. The Nielsen Auto Marketing Report 2018 showed that by the time car shoppers are ready to buy, […] [Read More]

Leaves are falling, as is the approval rate for vehicle lease transfers. And the volume of applicants is cooling, too. On Tuesday, Swapalease.com reported that vehicle lease credit applicants registered a 69.8-percent approval rate in September. That reading represented a 3.9-percent drop from the August rate of 72.6 percent. Site officials acknowledged that lease approvals […] [Read More]

Consider this episode of the Auto Remarketing Podcast a preview of what’s to come during Used Car Week 2018. Joining Nick for this edition are representatives from two presenting sponsors — Anne Holtzman of Allied Solutions and Jeremiah Wheeler of DRN — who offer a glimpse of their presentations focused on how watching insurance data […] [Read More]

Online marketplace Shift, which last month announced a series D fundraising round led by Lithia Motors as well as a partnership with the dealer group, has quadrupled its floorplan capacity thanks to a new credit line for buying used cars. And with this news also comes more good news for Shift: Lithia has acquired more […] [Read More]

Federal officials said Hurricane Michael made landfall near Mexico Beach, Fla., on Wednesday afternoon as a Category 4 storm with maximum sustained winds surpassing 150 mph. The second major hurricane to strike the Southeast during the past month prompted Cox Automotive experts again to project how many more vehicles will be lost because of intense wind […] [Read More]

Perhaps not surprising to dealership managers and salespeople, consumers are walking into showrooms ready for conflict. Over what? It's the retail price of that vehicle that might already be jeopardy of generating little margin — or worse — a potential net loss while also creating an anchor on the store floorplan. More details from the […] [Read More]