Sure, franchised dealer used-vehicle sales in 2023 fell 7% compared to the previous year and used retail prices declined 3%. Nonetheless, it wasn’t such a bad year for the used market, and 2024 won’t be so bad either, Jonathan Banks, J.D. Power vice president of product development, valuation services, said during the J.D. Power Auto Summit preceding NADA Show 2024. “At first blush (2023) looks like a really challenging year. But actually, it was ... [Read More]

While the groundhog hasn’t delivered his forecast yet, it seems spring might be on the way in the wholesale car market. Used-vehicle prices were down again as January ended, but the pace of depreciation is decelerating, according to the latest report from Black Book. “For three consecutive weeks, the overall wholesale market has exhibited a […] [Read More]

Welcome to the new year, your new normal. Don’t worry. It’s not that scary! As an industry, our No. 1 addiction is the next shiny object. It’s our Achilles’ heel. The latest trend, the latest opinion and the latest “easy way to do it better, faster and more profitably.” It always comes down to two […] [Read More]

The transition to electric vehicles is currently generating millions of pixels. The once seemingly smooth path to an all-electric future is now strewn with some unexpected potholes, but one vehicle type in the current mix deserves some added attention. Plug-in hybrids (PHEVs) can offer a good solution in regions with limited charging infrastructures and for […] [Read More]

“Normal” hasn’t often been a word to describe the auto industry in the last four years, but 2024 could be the return of stability and typical market patterns. That includes a “normal seasonal trend” when it comes to depreciation in the wholesale vehicle market,  along with “modest growth trajectory” in the new-car segment, Black Book […] [Read More]

Auto logistics providers anticipate a large increase this year in the volume of battery-electric vehicles, or BEVs, they transport. Two areas stand out when discussing handling those electric vehicles versus internal combustion engine vehicles, and each area has its own ramifications for the industry. “The two biggest differences are mass and helping ensure the battery […] [Read More]

Ivan Drury says the retail used electric vehicle market has long been a topic of interest, and one reason for that has been the limited supply of “legitimate contenders,” he said. “For so long, it was Tesla or compliance car, and that was it,” said Drury, who is director of insights for online car shopping guide Edmunds. Drury described a compliance car by saying some automakers would remove the motor from one of their mainstream offerings, like the Fit for Honda, and place a battery in the car to get EV tax credits. But when asked about the state of the used electric vehicle market in retail, Drury and other industry representatives said more viable non-Tesla vehicles are ... [Read More]

Wholesale vehicle volumes hit a low point in 2022 but are estimated to have climbed more than 14% last year and are expected to modest growth in 2024, with gains expected for at least the next five years. Still, wholesale volumes are not likely to reach pre-pandemic levels anytime soon. That’s according to data in the “Industry Insights” webcast earlier this month from Cox Automotive, which shows that dealer volumes at auction continue to ... [Read More]

When your favorite college basketball team wins an ugly game against an in-state rival, you may not love the bumps and bruises it took to get there, but you’re certainly happy with the outcome. Same goes for the used-car market, it seems. Despite a slowdown from the prior month and the heights reached in the […] [Read More]

Young car buyers want it all. According to the 2024 Embedded Auto Insurance Study, conducted by embedded automotive insurance marketplace Polly, Millennials and Generation Z consumers don’t want to just shop for insurance — they want insurance to be part of the car-buying process. The survey of more than 1,000 consumers who had purchased a […] [Read More]