Average prices on 1- to 5-year-old vehicles in October were down 5.1% year-over-year, according to analysis from iSeeCars.com. Moreover, the latest CARFAX Used Car Price Index shows that those declines continued “across the board” in November. But the price drops for used electric vehicles (and to a lesser extent, hybrids) have been far more extensive, […] [Read More]

GoodCar, a provider of comprehensive vehicle data and history reports, has introduced its Residual Values tool, which it called “a timely solution for car lessees amid the soaring prices of used vehicles.” The new tool is designed to give consumers a quick and accurate estimate of their vehicle’s equity. Users can access the current residual […] [Read More]

Flexcar has come a long way since it launched in 2021. And its customers have gone even farther. More than 100 million miles, in fact. The vehicle subscription service announced its customers have surpassed that milestone in Flexcar vehicles. “People who are in the market for a car today face record-high prices for buying or […] [Read More]

Two of the experts at Experian Automotive — John Howard and Kirsten Von Busch — spent part of their time at Used Car Week discussing electric vehicles for this episode of the Auto Remarketing Podcast. Howard and Von Busch recapped what the industry has learned about EV retailing and more this year. The conversation can […] [Read More]

China’s leading used-car online marketplace was in Scottsdale, Ariz., this year with a booth at Used Car Week, held in mid-November. TaoCheChe’s reason for being there was two-fold. “Our main purpose in coming to UCW is to learn from our industry partners,” TaoCheChe CEO Jiang Dong told Auto Remarketing at its booth. “But another purpose is to tell the American used-car industry to look at China’s used-car market. It is a gold mine.” China’s used-car market is the world’s fastest growing, with a compounded annual growth rate of ... [Read More]

An overwhelming percentage of car dealers who use digital retailing tools are reporting encouraging results, according to the latest research by Cox Automotive. The company’s 2023 Digitization of Car Buying Study found 90% of dealers said digital retailing has positively impacted at least one area of their business, with customer satisfaction/experience, customer relationships, ease of […] [Read More]

AutoVerify’s digital merchandising products, Car Media Premium Capture and Car Media 360, have been approved by General Motors to join its Dealer Digital Solution program. The U.S. OEM certification is the first for Car Media and its parent company AutoVerify, a Canadian-based technology platform that is now certified by a total of 13 brands in […] [Read More]

Just before finishing his time at Used Car Week, CarGurus director of industry analytics Kevin Roberts took a few moments to appear again on the Auto Remarketing Podcast. Roberts shared some tidbits from CarGurus’ upcoming report recapping this year’s used-vehicle market as well as what trends he’ll be watching closely in 2024. The conversation can […] [Read More]

Well, it’s that time of year again. Don’t blink. In this business, it’s sometimes easy to forget everything we should be thankful for and much easier to think of everything that bothers us. Now, it’s time to catch your breath and look at what the automotive industry is truly all about. The hardest thing to […] [Read More]

The world of car dealerships is a dynamic and ever-evolving industry that operates in tandem with economic cycles. In a down market, car dealerships face unique challenges that test their adaptability and resilience. Having insight at CarOffer into thousands of dealerships nationwide, it is interesting to see what some of the best dealers are doing […] [Read More]