The approval rate at Swapalease.com closed 2020 on a high note, prompting an “optimistic” outlook for this year. Site officials reported on Tuesday that the approval rate for applicants looking to take over a vehicle lease came in at the highest rate of the year in December, registering in at 72.7%. That reading to round […] [Read More]

After a downturn in 2020, the used-car market is expected to kick off a multi-year rebound in sales, with numbers expected to eclipse the 40 million mark in 2022, say analysts with Cox Automotive. According to Friday's Cox Automotive Industry Insights 2021 presentation, there was an estimated 36.7 million total used-vehicle sales in 2020. While that’s […] [Read More]

The long-term trend toward electric vehicles continues to solidify. But because of the pandemic, consumer anxiety might be shifting automotive priorities toward familiarity and affordability. According to a new report from Deloitte, that could be a reason why 74% of U.S. consumers are looking for a traditional internal combustion engine in their next vehicle. For […] [Read More]

The RVI Group has hired David McKay as vice president of business development and sales in the company’s passenger vehicle department. For the RVI Group, which offers residual value insurance and financial and analytical services, McKay’s responsibilities will include business development, which includes sales and product design. Auto industry asset value protection insurance products will be […] [Read More]

Used pickup truck sales remained strong and grew during the pandemic, as other segments declined. iSeeCars executive analyst Karl Brauer said consumers needed the pickups for work. iSeeCars.com, a car search engine, recently conducted an analysis of the most popular used and new cars across the country, and the Ford F-150 topped the list of […] [Read More]

In a year like no other, 2020 introduced a range of new factors that have driven long-term projections for determining future value retention in the luxury segment of the used-vehicle market. Supply chain issues driven by the COVID-19 pandemic disrupted production, which reduced supply as demand also plummeted over the course of the year. In […] [Read More]

Dealers have an underleveraged opportunity to impact customer loyalty and satisfaction, as well as their own bottom lines. How can they take advantage of the opportunity? By integrating insurance into the sales process. According to a new study from insurance marketplace DealerPolicy, which surveyed 300 dealership executives and 1,000 consumers who purchased a vehicle in the […] [Read More]

The entire team at Cherokee Media Group wishes you a safe and happy holiday season and a joyous new year. Saturday's issue of Best of CMG Premium will be the final regularly scheduled e-newsletter from our team in 2020 before we take a holiday break. We thank you for your interest, support, readership and feedback this year. The Cherokee […] [Read More]

Ford’s model-level strength helped it perform well in the eighth annual Vincentric Best Certified Pre-Owned Value in America Awards. Although Ford won more model-level awards than any other brand with eight, Toyota and Honda also had a strong showing with four model-level awards each. Vincentric president David Wurster said many people in the United States […] [Read More]

If you’ve heard the term “SPAC” a lot in the used-car market this year, you’re not alone.   The term refers to a “special purpose acquisition company,” and at least two well-known used-car players have merged or announced plans to merge with publicly traded SPACs as a means of going public this year. They're taking […] [Read More]