What will the electric market look like in 2030 and, more importantly, how will we get there? That was the theme of this debate — a true clash of titans — between Steve Greenfield of Automotive Ventures and Scott Case of Recurrent during this year’s Auto Intel Summit + National Remarketing Conference presented by SmartAuction […] [Read More]

Buyers at CarMax Auctions now have a new option for financing their purchases. Kinetic Advantage, an independent floorplan company for independent dealers, has partnered with CarMax to provide dealer floorplan financing at its auctions. “CarMax is recognized as one of the premier, dealer-friendly auto auctions in the country,” Kinetic Advantage president and CEO Marty McFarland […] [Read More]

As electric vehicle prices fall, total loss claims rise. That’s the key finding of the latest report from Mitchell, a technology and information provider for the property and casualty claims and collision repair industries. The trends report for the first quarter of 2024, titled “Plugged-In: EV Collision Insights,” found EV total loss rates have soared […] [Read More]

The used-car market seems simple enough: buy vehicles and sell them for more than you paid. However, any seasoned general manager, inventory buyer, or used-car specialist knows that there are several factors between those transactions that can tip the scales toward profitability or debt. Unlike new-vehicle inventory, which arrives at the dealer lot by the […] [Read More]

After a challenging April, certified pre-owned vehicle sales appear to have turned a corner in May. According to the latest “State of the Dealer” report from ZeroSum, dealers moved 182,000 certified vehicles in May, which marks the first time CPO sales have crossed this threshold in more than three years. Dealers also have more access […] [Read More]

Two new reports are challenging consumer perceptions — and doubts — about electric vehicles. J.D. Power’s latest E-Vision Intelligence Report and a new survey by CarGurus addressed consumer concerns about EV charging and range issues and found the perceptions don’t always match reality. The CarGurus survey asked 1,050 car shoppers about three common perceptions — […] [Read More]

Used-car sales have surged since the end of 2023 thanks to trends that offer long-term opportunities for dealers, according to a new eBook from marketing and data software firm ZeroSum. The report, “Driving Profits: The Importance of Data-Driven Decisions in the Used Car Market,” showed used-car movement is up 16.6% from the end of last […] [Read More]

Kevin Roberts, director of industry insights and analytics at CarGurus, joined the Auto Remarketing Podcast from the Auto Intel Summit + National Remarketing Conference last month in Cary, N.C. He sat down with Cherokee Media Group senior editor Joe Overby for a conversation about the data metrics that dealers should watch to maximize profitability and […] [Read More]

Coinciding with S&P Global Mobility discovering the average age of vehicles on the road is 12.6 years — an all-time high — Sunbit highlighted its own milestone on Thursday, announcing its buy-now, pay-later financing technology is available at more than 50% of dealership service centers in the U.S. Since launching in the auto services sector, […] [Read More]

Dealership profits are slowing from the astronomical pandemic-era levels, but the buy-sell market remains active, according to analyses by advisory firms in the space. The Presidio-NCM Average Dealership Performance Benchmark shows that an average franchised dealership had a 32.4% year-over-year slide in net pretax profit during the first quarter, following a 20.5% year-over-year decline in […] [Read More]