With the used electric market poised to grow in coming years, CarMax — where website searches for EVs have more than doubled since January 2022 — is taking steps now to become the leader in that space. The used-car retailer announced a series of initiatives on Wednesday designed to improve the used EV buying and ownership experience, including measures around EV education, battery health assessment and at-home charging, and tax rebates. Those steps include ... [Read More]

There has been a spark in the used hybrid and electric vehicle market this month. After two years of consistent slowdowns, the segment has shown the most month-over-month retail price growth of any vehicle category in the latest Carfax Used Car Index. According to Carfax, used hybrid/EV prices are ... [Read More]

n late March, as the auto industry scrambled to get its arms around President Trump’s tariffs on vehicles built outside of the U.S., Cars.com saw a “notable increase” in the number of dealers asking to demo and trial its AccuTrade used-car appraisal tool and its DealerClub used-car, dealer-to-dealer digital wholesale marketplace, said Sonia Jain, the company’s chief financial officer. AccuTrade has steadily expanded its user base and crossed the ... [Read More]

Pandemic-era new-car production cuts have trimmed late-model used-vehicle supply. Lease maturities have declined. Automakers have slowed discounts. This trio of market factors pushed average used-car prices in the opening weeks of May up $130 from a year ago to $29,168, according to analysis released Thursday by J.D. Power. Meantime, data from EpicVIN shows average used-car […] [Read More]

Companies that are key players in the used-car world recently presented at the J.P. Morgan Global Technology, Media and Communications conference. While their presentations touched on a wide range of topics, a common thread ran through them. Each highlighted value-added services that will help them thrive in a time of great uncertainty. The companies are Cars Commerce, CarGurus, ACV Auctions and Carvana ... [Read More]

Peter Kelly has said it before, and he said it again during OPENLANE’s first quarter 2025 earnings call on May 7: “OPENLANE is a digital marketplace in a relationship business.” “And the relationships that our customers have with our people and our products are critical to our long-term success,” said Kelly, who is CEO of OPENLANE. Kelly spent a good portion of the earnings call talking about how the company is ... [Read More]

Two months ago, AutoCanada unveiled its road map for the long drive toward financial recovery. Now the Edmonton-based dealership group says it has turned onto the entrance ramp and is at last on the road. During last week’s first quarter 2025 earnings call, executive chairman Paul Antony said AutoCanada is “firmly on track” to ... [Read More]

Despite changing political winds related to electric vehicles, a consortium of automakers is still committed to its ambitious plan to build a nationwide electric vehicle charging network, a member of the consortium told Auto Remarketing. “At the beginning of the year we had a heart-to-heart discussion with IONNA, and we assured them that we are committed to expansion,” Orth Hedrick, specification analyst at Kia America, told Auto Remarketing. Kia is one of eight automakers that have ... [Read More]

Sales of electric vehicles at auction hit an all-time high in March, according to the National Auto Auction Association. And then? The very next month, EV sales jumped about 20% higher than that record. Specifically, there were ... [Read More]

Asbury Automotive Group’s used-vehicle sales, revenue and gross profit declined in its first quarter that ended, March 31, when compared to the first quarter of 2024. But as the dealership group pointed out, it completed six dealership divestitures in 2024 that represented an estimated $225 million in annualized revenue and two divestitures in the first quarter of 2025. The company’s quarterly gross profit of $1,587 per used unit retailed represented its ... [Read More]