Inventory shortages the last few years may have hurt new-car sales, but they were a boon for used-vehicle sales, including those that were certified pre-owned. New inventory may be improving, but consumer interest in CPO models will remain and dealers and manufacturers should take note, said participants on the “Top Used Car Strategies from ‘Best CPO Dealers’” panel during Used Car Week. “We saw a huge value in ... [Read More]

The picture of how wholesale used-vehicle prices behaved in October and what’s in store for the final two months of the year may very well depend on what data set you’re considering. Black Book’s Used Vehicle Retention Index came in at 161.0 for October, up 1.1% from September and down 7.6% year-over-year.  It remains 41% […] [Read More]

There’s nothing about paying bills that consumers like, so it follows that the easier and cheaper and most penny perfect they are to pay, the better, right? KISS! The U.S. Navy coined the phrase “KISS” — aka “Keep it Simple Stupid”— in 1960 to refer to jet mechanics, and it was eventually adapted across the […] [Read More]

New technology holds radical possibilities for the automotive industry at every level of the sales funnel. Artificial intelligence (AI) is already being used for enhancing promotional images, creating videos, and providing other helpful additions to marketing. AI for merchandising is not the only way this innovative new technology is shifting the auto remarketing industry, however. […] [Read More]

Sales of used commercial vehicles at dealerships in the third quarter “cooled off,” but remain well ahead of year-ago figures, according to the Q3 2023 Commercial Vehicle Market Analysis from Work Truck Solutions. In addition to sales, the report delves into prices, turn times, inventory and more. Starting with sales, specifically, there was a 2.3% […] [Read More]

Many Americans are behind on vehicle maintenance such as regular oil changes and tire rotations, according to research from CARFAX. The company said information compiled from the alerts and service records of the 35 million vehicles in the CARFAX Car Care program showed 29% of those vehicles are behind on oil changes, 44% haven’t had […] [Read More]

The retail used-car market appears to be hitting a “leveling off period” when it comes to prices. In other words, shoppers shouldn’t expect much further relief. That’s according to the latest CARFAX Used Car Price Index, which said used-car asking prices on its platform are approaching a “floor.” While prices for pickup trucks and luxury […] [Read More]

Jeremy Louisos isn’t just the senior vice president of Preowned Auto Logistics and an alumnus of Auto Remarketing’s 40 Under 40 program. As it turns out, he’s also a budding podcast star. Louisos, host of the PAL Podcast, will be among close to 20 podcasters recording shows on the podcast stage at Used Car Week, […] [Read More]

Like the Earp brothers in “Tombstone,” the used-car industry is reuniting in Arizona this year for Used Car Week. For the first time since 2018, the event will be held at the Westin Kierland in Scottsdale. While the sunshine, balmy climate and cool desert nights remain, much has changed in the five years since Used […] [Read More]

Like the number of teams still alive in the MLB playoffs, used-car prices are dropping in October. Wholesale vehicle values climbed sequentially for the second straight month and were still astronomically high in September compared to pre-COVID levels, but signs indicate that October is seeing the usual autumn slowdown. That’s according to the September/October Kontos […] [Read More]