The auto transport industry continues getting used to the fact that electric vehicles are having a strong impact on the business, Dan Kennedy says. EVs are heavier than gasoline-powered vehicles, said Kennedy, who is senior vice president, business development, for CT Services. EVs tend to sit a little bit lower, which can limit the choice of equipment you can use to move the vehicles, he said. “[That] basically will say to the customer ... [Read More]

A consumer survey released by MINI USA on Friday found that nearly half of U.S. consumers plan on going electric with their car purchase by 2028. And some used-car shoppers, it appears, are already jumping in. CarMax said in its Spring 2023 CarMax Electric Vehicle Consumer Report released Monday that search volume for the term […] [Read More]

J.D. Power Valuation Services and Work Truck Solutions each shared insights about what’s happening in connection with commercial vehicles within both the wholesale and retail segments. Beginning with J.D. Power Valuation Services’ look at auction activity in March, analysts said sales volume with commercial units increased notably, with most trucks sold showing higher-than-average mileage. As […] [Read More]

Times are changing. That’s true for the entire auto industry. And it’s no different for the reconditioning segment. Auto Remarketing spoke with a collection of recon and auction leaders to get the pulse on today’s challenges and opportunitites in the segment. The year kicked off with ... [Read More]

Most industries today have felt the pains of an across-the-board labor shortage after the COVID-19 pandemic wreaked havoc on industries across the board. The labor shortage in the reconditioning and service departments was a challenge long before the outbreak of the COVID pandemic. This just made it even worse. That’s apparent from Auto Remarketing’s conversations with recon execs and leaders in March, who all vocalized how difficult it is to find quality recon workers that have the potential for long-term employment. Many candidates ... [Read More]

After three straight months of sequential gains to begin the year, wholesale vehicle prices appear to be slowing down in April. The mid-month reading of the Manheim Used Vehicle Value Index came in at 231.7, which was off 2.7% from March and 4% from the full month of April 2022, when adjusting for mix, mileage […] [Read More]

Service activity at franchised dealerships decreased in February but service revenue increased compared to the same month in 2022, according to data from Cox Automotive’s Xtime metrics. The rise in revenue was due to dealers providing more information about the entire repair process, Skyler Chadwick, director of product consulting at Cox Automotive, told Auto Remarketing. […] [Read More]

After being rocked by the COVID-19 pandemic, sales of certified pre-owned vehicles are back on the rise. During the past six months, most brands have seen growth in their CPO programs from both traditional and new sources as dealers decided to certify more of their used-vehicle inventory. In the current used-vehicle marketplace, that is a […] [Read More]

For the past few years auto dealers have enjoyed unprecedented market conditions with record profits in both new- and used-vehicle sales. However, excluding a brief reprieve in February and March, the tightening of the consumer market and the subsequent drop in wholesale values has created a dynamic where many operators are struggling to turn a […] [Read More]

Though it appears March did not continue the year-over-year gains from the first two months of 2023, certified pre-owned vehicle sales in the first quarter were close to 9% stronger than Q1 2022 numbers. That’s according to Motor Intelligence’s preliminary numbers as of Thursday that were provided to Auto Remarketing. Through March, there have been an estimated ... [Read More]