Thomas King, president of the data and analytics division at J.D. Power, explained why this month has been a tricky one for used-car managers and leasing specialists at franchised dealerships. Let’s begin with the details J.D. Power shared on Thursday associated with the used-car department. So far in October, King reported average used-vehicle retail prices […] [Read More]

The latest numbers from Cars Commerce show a new-car market in flux, with prices falling as excess inventory builds up. In the used-car world, on the other hand, all is calm and steady. Car Commerce’s September Industry Insights Report paints a serene picture of the used-car market, with prices having stabilized over the past six […] [Read More]

Used-car profits soared during the pandemic. But as the market turns the corner toward the end of 2024, “used vehicles may be finding their new normal on profitability.” That’s just one key finding from the latest quarterly Presidio-NCM Average Dealership Performance Benchmark Report, which found that, pre-owned or otherwise, “the downward spiral in profitability for […] [Read More]

What is this thing called love? It’s a question that’s been asked by philosophers, poets and songwriters throughout the ages — and everyone’s answer is different. iSeeCars’ solution — at least when it comes to car owners’ feelings about their vehicles — is to look at it by the numbers. When a car’s original owner […] [Read More]

In 2022, Hurricane Ian damaged upwards of 358,000 vehicles throughout several states, according to CARFAX. After the devastation of hurricanes Helene and Milton in the Southeast, this year is already approaching similar numbers. CARFAX estimates that the 2024 hurricane season has resulted in approximately 347,000 vehicles with flood damage so far. After Hurricane Helene damaged […] [Read More]

Sending a full-size truck to auction appears to be as much of a heartburn-triggering situation for franchised dealers as seeing that new model sitting in inventory and on the store floorplan for 100 days or more. Data from Black Book, Cox Automotive and J.D. Power showed the numbers crunch unfolding that might again be pitting […] [Read More]

Work Truck Solutions said the interplay between the new and used segments of commercial vehicles reveals a series of “subtle yet significant” indicators that warrant attention. That’s the primary finding from its Q3 2024 Commercial Vehicle Market Analysis, which indicated the commercial vehicle market overall is continuing to recover. Work Truck Solutions reported that new […] [Read More]

Overall wholesale vehicle volumes are expected to increase more than 7% this year before dipping slightly in 2025 then resuming a climb toward an annual pace of 12 million units, according to a Cox Automotive forecast. The company projects 11.4 million wholesale units this year, up from 10.6 million in 2023, when volumes rose 19.1% from the trough of 2022. Cox Automotive anticipates a slight dip to 11.3 million in 2025, followed by increases the next four years, with the wholesale market reaching 12.1 million by 2029. And much of that will continue to ... [Read More]

There doesn’t seem to be an October surprise when it comes to wholesale used-vehicle prices. At least not yet. Halfway through the month, values are moving according to expectations, Cox Automotive said in analysis around its mid-month Manheim Used Vehicle Value Index. The company said wholesale prices through Oct. 15 were up 0.3% from September, […] [Read More]

CARFAX is estimating that upwards of 138,000 vehicles were flood damaged by Hurricane Helene, which caused destruction in at least six Southeastern states. Of those, the one with the most water-damaged vehicles from the hurricane is Florida at 60,700 vehicles. South Carolina is second at 27,500, followed by North Carolina at 22,900 and Georgia at […] [Read More]