When the final results are tallied, look for October’s used-car sales market to be down double-digits from a year ago, but steady with September. In a forecast released Friday, TrueCar projected slightly less than 3 million used-car sales for October, which would be a 13% year-over-year decrease and static month-over-month. Through nine months of the […] [Read More]

The noise that you are about to hear — loud and clear — in the used-vehicle market during the next few months will not be the loud pop of a market bubble being pierced; rather, it will be the slow and steady hiss of air being released from an admittedly overheated market. While the cooling […] [Read More]

Three-quarters of consumers in a July seller survey said having a trade-in they could apply towards their next purchase was “very or extremely important,” CarGurus said in its 2022 Consumer Insights Report. And these days, those customers are fetching a pretty penny for their old rides. In the company’s latest auto sales forecast, Thomas King, […] [Read More]

As Auto Remarketing continues to expand our coverage of the used-vehicle retail market, below are a few OEMs who have shared certified pre-owned sales results for September and/or the third quarter. Starting with Hyundai Motor America, the Hyundai brand posted 8,556 certified sales in September, which was up 37.5% year-over-year. Through nine months of the […] [Read More]

Used-vehicle sales fell 9.2% year-over-year in September and are trending toward a full-year tally more than 12% softer than that of 2021, according to Cox Automotive. But there remains some positive signs, particularly late last month, which saw an uptick in the rolling 30-day retail sales for used cars, according to the company’s Manheim Market Insights […] [Read More]

The numbers around new-car affordability (or lack thereof) are quite staggering. According to data from Cox Automotive and Moody’s, to buy a new car in September would have taken 42.2 weeks of median income. That’s up 9% year-over-year, Cox said in a Data Point report, also noting that auto finance interest rates were at their […] [Read More]

It is a well-known philosophy for any business, but especially in retail, that what gets measured gets improved. However, due to the fast-paced nature of our business, a mistake that I see far too many used car sales operators make is not measuring enough. Often, this dynamic leads to a situation whereby the store is […] [Read More]

Through nine months of the year, sales of new electric vehicles are up nearly 70%, as dealers have moved an estimated 576,408 new EVs, according to Kelley Blue Book. But in the used EV market, the turning point may come in January — which is when the Inflation Reduction Act of 2022 goes into effect. […] [Read More]

We begin this roundup of auto executive moves on the wholesale side of the market.   Dan Heinrich is now the managing director of remarketing at Stellantis Financial Services, US, Heinrich said in a LinkedIn post Monday.   Heinrich said he will be helping to develop company’s end-of-lease and remarketing program. He spent more than […] [Read More]

Supply chain challenges. Labor and staffing shortages. Lack of product, or in our world, lack of vehicles. There’s no doubt that in today’s environment, winning in business has many new challenges and staying “ahead of the game” requires creativity and diligence. But this also means there are new opportunities that did not exist 12-18 months ago. […] [Read More]