Retail
Dealer news roundup: Moves involving Asbury, Victory & Fifth Wave
Monday, Apr. 22, 2024, 02:59 PM
Auto Remarketing Staff
The dealership news roundup involves activities at Asbury Automotive Group, Victory Automotive Group and Fifth Wave Automotive Group. According to a news release from Tim Lamb Group, the firm brokered the sale of Folsom Lake Chrysler Dodge Jeep Ram in ... [Read More]
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CarMax to reduce window for money-back guarantee
Beyond the Transaction: Service lane video use is growing, boosting profits & customer satisfaction
Wholesale
Wholesale vehicle volumes improve in Q1
Friday, Apr. 19, 2024, 04:13 PM
Joe Overby, Senior Editor
While the upswing in 2024 isn’t likely to be as strong as last year’s, the wholesale vehicle market is showing a gradual rebound in volumes and has started the year with some impressive gains.
At the Manheim auto auction chain, wholesale sales climbed in 11 of the first 13 weeks of the year and were up 15% year-over-year in the first quarter, said Jeremy Robb, senior director of economic and industry insights at parent company Cox Automotive.
Year-to-date through February, there were ... [Read More]
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Auction roundup: Auctioneers championship on deck & celebrating 77 years at Bel Air AA
Beyond the Transaction: How AI, EVs are changing inspection, CR landscape
Sponsored Content
Exeter Finance Hands Out Auction eXcellence Awards
Exeter Finance
Exeter Finance honored five auto auctions as winners of its 2023 Auction eXcellence Awards during last week’s CAR Conference in Phoenix. America’s Auto Auction Dallas earned the award for Division I, with Big Valley Auto Auction in Donna, Texas, claiming the Division II honor and America’s Auto Auction Kansas City winning Division III. [Read More]
Technology
Privacy4Cars lands 3 more US patents to help global expansion
Monday, Apr. 22, 2024, 03:03 PM
Auto Remarketing Staff
Privacy4Cars continued its ongoing drive toward solving the privacy and security issues posed by vehicle data last week by announcing the U.S. Patent Office approved three new patents. The company highlighted two patents are novel areas of expansion for Privacy4Cars. ... [Read More]
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Orbee lands another integration to boost dealer connections with shoppers
Financial
Beyond the Transaction: Overcoming customers’ affordability concerns through the financing process
Wednesday, Apr. 17, 2024, 03:41 PM
Andrew Friedlander, Associate Editor
This feature is part of Auto Remarketing’s upcoming “Beyond the Transaction” edition, which is the May print issue of the magazine. It is available for Cherokee Media Group Premium subscribers now.
For consumers, the greatest concern when it comes to buying a car can be summed up in one word.
Affordability.
While the price of cars has dropped over the past year, they remain substantially elevated compared to before the COVID pandemic. Currently, the average price of a used vehicle is in the $25,000-$28,000 range, depending on which analyst’s data you’re looking at — well above the sub-$19,000 average of early 2020.
And with interest rates soaring to their highest point in ... [Read More]
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Beyond the Transaction: The ins and outs of reinsurance
InfoSum, Experian seek to increase power of auto brands’ first-party data
Analysis
Used-car sales climb about 11% & move at faster clip
Wednesday, Apr. 17, 2024, 03:01 PM
Auto Remarketing Staff
It was March momentum for the retail used-car market. In a month were days-to-sell plummeted (more on that later), franchised and independent dealers combined to sell an estimated 1.66 million used vehicles, which was a 10.9% gain from March 2023 ... [Read More]
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From the editor: This in-car song list is music to our ears
March brings surge of inventory, falling prices, Cars Commerce report finds