Affordability and availability of used electric vehicles is improving, and in some cases, so are sales. Over 4% of Carvana’s sales in the first quarter were battery-electric vehicles, more than doubling their share of sales from Q1 2023, according to a study released Wednesday by the online used-car retailer. Specifically, BEVs represented 4.3% of Carvana’s […] [Read More]

Wholesale vehicle prices continued their downward slope in April, falling double-digit percentages from a year ago. In fact, Cox Automotive’s Manheim Used Vehicle Value Index for the month fell below 200 for the first time in more than three years. The company said in a Data Point report accompanying the index that wholesale vehicle prices […] [Read More]

Lotlinx has launched a monthly/quarterly report to deliver data and trends to the auto industry. The company called its Vincensus Report “the most comprehensive monthly/quarterly inventory report in the industry” and said each month and quarter the report will “offer deep real-time data and insights visibility into the trends shaping OEM-specific and dealership inventory for […] [Read More]

Vehicle affordability is an issue that has been much talked about recently. As the pandemic and its related supply chain issues limited vehicle production as the decade began, auto manufacturers made concerted efforts to richen their mixes, building highly contented, more expensive vehicles. While this was a sensible reaction to the situation, it also left […] [Read More]

The pandemic forced us to reinvent the way we sell vehicles. We reviewed our online shopping experience and realized we had to remove any obstacles — make it possible for a customer to 100% buy online. We didn’t particularly like it, but it was necessary. Here’s the good news: It worked. Even better news: Customers […] [Read More]

A common hesitancy consumers might have about buying alternative-fuel vehicles (even used ones) is that the cost is too high. And that assumption isn’t entirely wrong — it might be fair on some models, particularly electrics. However, there are deals to be had in the used-car market for alternative-fuel vehicles — even beyond government rebates […] [Read More]

The CARFAX Used Car Index made its debut a year ago, and in an analysis recapping the latest installment, the company pinpointed three retail used-car pricing trends that have stood out. But first, here’s how the market looks at the end of April. In a word, they’re stable, a departure from the past 12 months, […] [Read More]

Sometimes electric vehicles can be difficult for dealers to blend into their floorplan. DriveItAway Holdings and Westlake Financial collaborated on a solution. Last week during the Auto Intel Summit + National Remarketing Conference, DriveItAway announced the offering of its retail app, software platform and lead base to all interested dealers, combined with fleet credit line […] [Read More]

After a successful series of “Dueling Podcasts” earlier this year, the hosts of the Auto Remarketing Podcast continued their multimedia collaborations last week. For the latest installment of its “Tuesday Nights Live” series on YouTube, ATI Auto Business livestreamed with Cherokee Media Group senior editors Joe Overby and Nick Zulovich from the Auto Intel Summit […] [Read More]

This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now.  For consumers, the greatest concern when it comes to buying a car can be summed up in one word. Affordability. While the price of cars has dropped over the past year, they remain substantially elevated compared to before the COVID pandemic. Currently, the average price of a used vehicle is in the $25,000-$28,000 range, depending on which analyst’s data you’re looking at — well above the sub-$19,000 average of early 2020. And with interest rates soaring to their highest point in ... [Read More]