On the auction block, on the dealer lot and in the consumer’s driveway: used-car prices are going up, and in some cases, breaking records. Starting on the wholesale side of the market, the Black Book Used Vehicle Retention Index, which was released Monday, has now reached a record high for three straight months. Coming in […] [Read More]

Rich Levene spent more than a decade in various executive roles within the wholesale market. Then a little more than a year ago, Levene started his own firm, Dignity Leadership Consulting, which helps its clients develop strategic, profit-generating, high-production teams. Levene discussed how individuals new to the automotive business as well as industry veterans can […] [Read More]

In another Auto Remarketing Podcast episode recorded in person during Used Car Week, DRN | MVTRAC president Jeremiah Wheeler returned to share insights about what the newest company data is showing. Wheeler touched on how transient people still are as well as how license-plate recognition data is continuing to help find vehicles that need repairs […] [Read More]

This week, industry veterans Brian Reed, Steve Greenfield, Andrew Gordon and Pete Batten formed a team they’ve called Automotive Market Data. And the team launched what it believes is the first-ever digital retailing market share database to inform dealers, investors and vendors — in real-time — about the automotive digital retailing landscape. According to a […] [Read More]

Sonic Automotive’s $700 million deal to purchase RFJ Auto Partners, announced in September, is the Charlotte, N.C.-based retailer’s largest acquisition ever and among the retail auto industry’s most significant transactions to date. But beyond the additional revenues and expanded geographic footprint from adding RFJ Auto — which are outlined in this previously reported story — […] [Read More]

In an Auto Remarketing interview late last month, Sonic Automotive chief financial officer Heath Byrd was discussing the M&A landscape in auto retail, and said that, “other than shortage of inventory in new, there's probably not a better time in our lifetimes to be in automotive retail.” He added: “And even (with) the shortage, we've […] [Read More]

Although the pandemic was still a major force in the world, the automotive industry entered 2021 having rebounded from the earliest days of the shutdowns. If anything, automotive brands and dealers found themselves having to address a lack of inventory, not a lack of demand from shoppers. Automotive marketers all over the U.S. have continuously […] [Read More]

Perhaps now more than ever with the used-car market in a place never previously seen, having tangible insight into residual values is even more crucial to automakers, finance companies and dealerships. With that scene in mind, experts announced the recipients of the J.D. Power 2022 U.S. ALG Residual Value Awards, highlighted by Honda and Lexus […] [Read More]

On both a wholesale and retail level, used-vehicle sales have slowed down, and that includes sales of certified pre-owned vehicles, reports from industry observers indicate. However, it appears the used-car market could still reach the all-time record for CPO sales set in 2019, according to a Cox Automotive analysis of data from Motor Intelligence. Through […] [Read More]

As the global microchip shortage continues to significantly impact the automotive industry, the resulting supply chain disruptions have created an ongoing crisis of inventory scarcity. The numbers are staggering: right now there are 1.4 million fewer new vehicles than in 2020, and more than 2.5 million fewer than in 2019. For dealers to succeed in […] [Read More]