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]

Last year, Used Car Week celebrated the return of our in-person, live event after a year of going digital due to COVID-19. This year, we mark another return: We’re back in San Diego for the first time in almost a decade.  The used-car industry — and Used Car Week — has changed a lot since […] [Read More]

Last week, CDK Global rolled out a new research project to gauge current and potentially future retail activities at dealerships. The automotive retail software provider launched the Ease of Purchase Scorecard, a monthly snapshot of the consumer vehicle purchase process at dealerships. According to the latest survey data, 82% of auto retailer customers are finding […] [Read More]

The Presidio Group, known as an investment banking and dealership mergers and acquisition advisory firm, has seen a distinct uptick in its automotive retail services division that helps match dealership retail services companies with strategic capital to help the companies grow. Presidio managing director Keith Style, during an interview about the company’s dealership M&A market […] [Read More]