Drivers who bought their cars used show little loyalty to their current brand when buying another vehicle — especially when they buy another used vehicle— according to the latest research by LexisNexis Risk Solutions. The data and analytics firm’s 2023 Automotive Brand Loyalty Study found just 21% of used-vehicle owners who bought their next vehicle […] [Read More]

The commercial automotive industry stands at the crossroads of economic challenges, evolving customer needs, and a dynamic environmental landscape, setting the stage for a transformative journey in 2024. As a new year unfolds, bringing fresh goals, evolving regulations, and expanded opportunities, let’s delve into the five pivotal trends that promise to shape the industry’s future. […] [Read More]

There is roughly a 10.2 million-unit deficit in the number of 1- to 3-year-old vehicles expected to re-enter the pre-owned car market in the near future, leading to a “sparse and expensive” picture for dealers’ used-car inventories, Cars Commerce says in its 2024 Automotive Trends report released Wednesday. And if the company’s data is any indication, consumers and dealers alike may be motivated to utilize the trade-in route. Citing data from its Accu-Trade unit, Cars Commerce said that trade-in values on 1- to -5-year-old used vehicles are ... [Read More]

There are dozens of events providing education and value to retail car dealers. From the large NADA Conference and Exposition to the small factory or 20 Group meetings, they range dramatically in both value and cost. I have participated in hundreds of events, both inside and outside this industry as an exhibitor, sponsor or attendee. […] [Read More]

Autonomy founder and CEO Scott Painter returns to the Auto Remarketing Podcast for a wide-ranging discussion on electric vehicle accessibility and affordability, the insurance industry’s relationship to EVs and car subscriptions, Autonomy’s recent partnerships with Deloitte and others, plus much more. Listen to the conversation in the window below.   [Read More]

Customers now have the option to lease certified pre-owned Honda and Acura vehicles, American Honda Motor Co. announced Thursday. The leasing option is the latest addition to the automaker’s CPO program, which recently expanded to allow vehicles from ages 6 to 10 through the respective HondaTrue Used and Acura Precision Used Programs. Eligible models include ... [Read More]

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a conversation with Steve Greenfield of Automotive Ventures and the industry personality all over social media who is known as CarDealershipGuy. Listen to the episode in the window below. [Read More]

It’s that time of year again to reflect on the past 12 months. As we navigate from one crisis to another, one reality shines through: We are one resilient industry. I mean come on, what else can they throw at us? Oh, yeah: 2024 is an election year! The used-car market is definitely showing signs […] [Read More]

Dealership service departments are not only losing market share to general repair shops — they’re also losing the trust of consumers, according to the latest research by Cox Automotive. Cox’s new study, “Under the Hood: Opportunities and Challenges in the Service Industry,” found that while franchised dealerships are still vehicle owners’ top choice among service […] [Read More]

Auto dealers have issued a vote of no confidence to the current U.S. economy. The Cox Automotive Dealer Sentiment Index for the fourth quarter of 2023 showed a sharp drop from Q3, which Cox analysts attributed to the ongoing adverse effects of high interest rates and a weakening economy on the automotive market, the two […] [Read More]