High vehicle prices and interest rates are delivering an economic one-two punch that is being felt throughout the used-vehicle ecosystem. Think consumer financing and monthly payments, dealership inventory and certified used vehicles, and residuals and repossessions. And they’re bound to be among the major discussion points during Used Car Week, set for Nov. 6-9 in Scottsdale, Ariz. In September, Cox Automotive released data showing that inflation and affordability concerns were the five top reasons consumers who said they ... [Read More]

America’s cars are going gray — and not just because they’re getting older. The latest study of car colors from iSeeCars shows gray rising in popularity, passing silver for third in market share behind perennial favorites white and black. According to the study, which analyzed more than 10 million 1- to 5-year-old used cars sold […] [Read More]

When it comes to electric vehicles in the U.S., there’s Tesla and there’s everyone else. Experian’s Automotive Consumer Trends Report for the second quarter of 2023 confirms that fact with the finding that the automaker has four of the top five luxury EV models in terms of market share. At the top of the list […] [Read More]

You went to the expo. You collected leads and gave away swag. Now what? The show doesn’t end when you take down the booth. It’s time for the post-show sales effort. But, sometimes, this is where the transition from marketing activity to sales results gets derailed. The best trade show booth in the world can’t […] [Read More]

Folks still need personal vehicles. And for many, the used-car market is the only or best option. That’s one way to explain why year-to-date used retail sales through August have climbed 4.5% — growth that has occurred despite the headwinds of high prices and steep interest rates, says Cox Automotive. “Slightly lower used-vehicle prices, coupled […] [Read More]

Trade shows can offer businesses the single best form of marketing: one-on-one contact in a highly charged selling atmosphere. Combine that with music, entertainment, and maybe a little caffeine (or alcohol), and you have the opportunity to close a lot of business. Your actual booth space is a key component in that success. No matter […] [Read More]

While it seems as if the electric vehicle is not a new phenomenon, the EV market is in its infancy compared to the internal combustion engine vehicle market. The latter has a history of well over a century, while the former has been just a sliver of the American vehicle market until just recently. Of […] [Read More]

Autumn brings the brilliant colors of fall foliage, pumpkin spice added to a variety of drinks and dishes and a multitude of vehicle accidents. CARFAX confirmed that last point, as the vehicle history report provider pointed out that fall is the time when vehicle crashes occur most often. Although many might assume that winter is […] [Read More]

The market for electric vehicles is growing, and the key to that growth will be “a better product at a better price,” according to Bank of America senior automotive analyst John Murphy. In his keynote presentation of Bank of America’s third annual EVolution electric vehicle summit — a virtual event to discuss the latest trends in electric vehicles and environmental sustainability with industry experts — Murphy said last year’s EV growth from ... [Read More]

As a dealer, stop riding the wave or you will end up beached! Look at today’s used-vehicle retail market from the consumer’s perspective: The news has been telling the public they’ve been paying inflated prices for used cars for the last three years. The latest news? Vehicle values are softening and consumers should see lower […] [Read More]