Used electric vehicles are seeing their prices erode, both on a retail and wholesale basis. And not only did average retail prices of used EVs fall nearly 30% last month, but these vehicles have also become increasingly cheaper than used internal-combustion-engine vehicles. According to iSeeCars.com, the price gap between used gas-powered vehicles and used EVs […] [Read More]

Black Book, in collaboration with Fitch Ratings, unveiled a new report on Monday. With the first installment titled, “Shifting Gears: A Comprehensive Overview of Automotive Trends in 2023,” experts released the 2024 Vehicle Depreciation Report, which presents key developments and data from the U.S. new- and used-vehicle markets, including notable trends in depreciation, sales and […] [Read More]

They say time waits for no one, and he who hesitates is lost. Well, those may be true, but it’s also true that speed kills. The faster you go, the less control you have and the more prone you are to mistakes. This is especially true in the car business. Dealers often make the mistake […] [Read More]

When it comes to electric vehicles, a mobile app is almost essential equipment, according to the latest study from J.D. Power. The 2024 U.S. OEM EV App Report found 90% of the almost 1,300 U.S. EV owners surveyed said they use the apps, up from 88% in 2023 and 81% in 2022. And 67% of […] [Read More]

Almost half of used-car shoppers say the oldest vehicle they would consider is in the 3- to 5-year-old range, according to the May Industry Insights Report from Cars Commerce. And the good news for dealers is supply has increased for some of the vehicle price band that would fit into that particular age group. Here’s […] [Read More]

At this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C.., a trio of experts discussed how digital auditing is now enabling floorplan and wholesale finance companies to “self-audit” physical auto and equipment inventory, leveraging artificial intelligence, machine learning and API integration. This week, NextGear Capital rolled out that kind […] [Read More]

The heartland is in a sweet spot for electric vehicle adoption in some ways, but EV ownership is low in most states in the middle of the U.S. Price is one issue, said panelists at the “What’s it going to take to drive EV adoption in the heartland?” session at the Electrify Expo Industry Day conference in Long Beach in southern California in late May. But other factors play a role, and dealers need to ... [Read More]

Digital auditing is now enabling floorplan and wholesale finance companies to “self-audit” physical auto and equipment inventory, leveraging artificial intelligence, machine learning and API integration. At this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C.., Marguerite Watanabe of Connections Insights moderated a panel discussion about how these digital audits […] [Read More]

In the face of uncertainty in the automotive market, the American economy in general and the nation’s political future, the outlook of car dealers remains remarkably steady, according to the latest Cox Automotive Dealer Sentiment Index. Of course, that’s not necessarily a good thing. The index for the second quarter of 2024 was virtually unchanged […] [Read More]

Rebecca Jenkins, senior director of business development with AccuTrade, addressed one of the pressing questions discussed most during this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction in Cary, N.C. How are electric vehicles impacting the used-car market? Listen to this episode of the Auto Remarketing Podcast to hear Jenkins’ keynote presentation […] [Read More]