The recovery in commercial consignment volume is already bearing fruit for marketplaces in the wholesale auto industry. At OPENLANE, for instance, 710,000 commercial consignment vehicles were sold through its marketplaces last year, compared to 661,000 in 2022. In the fourth quarter, OPENLANE had 183,000 commercial vehicle sales, up from 151,000 a year earlier. The growth in commercial vehicle volumes for the company has ... [Read More]

The availability of public chargers is still the least satisfying aspect of owning a battery electric vehicle — and the latest research from J.D. Power shows that experience is actually getting worse. According to the J.D. Power 2024 U.S. Electric Vehicle Experience Ownership Study, satisfaction with public charger availability is 32 points lower now than […] [Read More]

Used-vehicle prices are showing a “typical seasonal rise” on a month-over-month basis in the wholesale market but are down double-digits from early 2023. Meantime, used-vehicle prices on the retail side of the market “are in retreat” from peaks reached in May. That’s according to respective analyses released by ADESA and CARFAX in the past week. […] [Read More]

Brand loyalty is making a comeback, and General Motors and Tesla are leading the charge. They were among the big winners in S&P Global Mobility’s 28th annual Automotive Loyalty Awards, with GM earning the Overall Loyalty to Manufacturer award and Tesla claiming the title in Overall Loyalty to Make. The Lincoln Nautilus took the top […] [Read More]

The third event to highlight in this series evaluating automotive events is the Auto Intel Summit + National Remarketing Conference hosted by Cherokee Media Group. It will be held April 23-25 in Cary, N.C. This annual event focuses on financial and business trends and attracts about 300 automotive leaders each year. A combination of executives […] [Read More]

Service departments were busier in January than the month before and revenue continued to grow, according to the latest analysis of Xtime data by Cox Automotive. The Xtime Repair Order Volume Index of 82.4 for January represented a 2.7% increase from December and a 1.3% drop from January 2023. Service department revenue remained strong, with […] [Read More]

Consumer interest in electric vehicles has plateaued and dealers want some relief from pressure to sell them. That was the message that emerged from speakers during the J.D. Power Auto Summit earlier this month in Las Vegas. “Interest (in EVs) has been improving pretty nicely over the last few years, but it has kind of ... [Read More]

As the automotive industry hurtles towards 2024, service departments within dealerships are gearing up for a year of significant shifts and innovations. Here are three compelling predictions that are set to redefine the landscape for automotive dealership service departments in the coming year: Warranty revenue: An 8% surge outpacing customer pay growth 2024 is poised […] [Read More]

It was good news, bad news for the retail used-car market in January. Supply softened on both a year-over-year and sequential basis, but so did prices.  Used-car demand fell over 7% from January 2023, but was up almost 14% from December. And both supply of and demand for used EVs is rising, and prices are […] [Read More]

While sales of certified pre-owned vehicles may have risen last year, dealers tell Auto Remarketing it was a tough year for them on several levels. They anticipate 2024 will be a better year for CPO sales, with some caveats. Demand for CPO vehicles in 2024 will not be a problem. A CPO vehicle “is something consumers ... [Read More]