Dealer-to-dealer sales within OPENLANE’s marketplace segment climbed a double-digit percentage for the third straight quarter, and while commercial sales slowed, that decline was expected and likely temporary. In the second quarter, there were approximately 182,000 dealer units sold through OPENLANE, up 21% year-over-year and up 6% from the first quarter, the company said in earnings results released last week. That represents a gross merchandise value of $2.5 billion, up from $1.8 billion a year ago. Commercial volumes came in at ... [Read More]

Carvana’s revenue and income grew significantly in the second quarter of 2025. The used-car retailer’s executives attributed the growth to Carvana’s oft-stated long-term drivers, including more awareness and trust and improving the selection of vehicles offered. They said the boost in profits was helped by the company’s ability to leverage its size and assets to operate more efficiently. That allowed Carvana to ... [Read More]

Not long ago, a very nice lady walked into Mark Wilson's Better Used Cars in Guelph, Ontario, wanting to buy a car. She told the dealership staff she owed $10,000 on her trade-in. Well, general sales manager Andy Mazak thought, we can make that work. “But when we went and pulled the lien, it was $22,000,” Mazak said during a panel discussion titled “Credit is Tight. Negative Equity is the New Normal. Now What?” at Canada’s Used Car Week 2025 in Toronto. “So just a little bit offside. Just a tad bit. “You know, we never want to ... [Read More]

Though they didn’t reach the heights of the first quarter, conversion rates at auction for commercial consignors in the second quarter were up more than 4 percentage points year-over-year and remained above prior-year figures through the first half of 2025. That’s according to the Q2 Industry View from AutoIMS, which provides a “compendium of metrics featured in the AutoIMS Sales Scorecard that reflects the AutoIMS database (with few needed exclusions) — a vast majority of the commercial sales volume at wholesale auto auctions in North America.” Specifically, conversion rates for commercial consignors ... [Read More]

Steve Rowley, president of Cox Automotive, said there are a lot of forces currently impacting the auto industry landscape. Vehicle electrification, new technology and consumer affordability are among the challenges and changes the wholesale and retail auto industries have to navigate to competitively buy, sell and service vehicles, he said. But perhaps the most prominent force impacting the auto industry ... [Read More]

Used-vehicle inventory is not just getting tighter. It’s getting older. Cox Automotive data presented during this week’s Q2 Manheim Used Vehicle Value Index call shows the significant impact the COVID pandemic has made on the current supply. The average age of vehicles sold at Manheim auctions is now 6.7 years. That’s up 24% from the […] [Read More]

Used electric vehicles are breaking sales records seemingly every week in both the retail and wholesale sectors. So it’s no surprise that two more fell in the second quarter of 2025. During its Q2 Manheim Used Vehicle Value Index call this week, Cox Automotive noted retail sales of used EVs for the quarter surpassed 100,000 […] [Read More]

We need to prepare for the future of mobility in a multitude of ways to ensure it continues to evolve. That was the message conveyed by speakers at Sustain Southern California’s Driving Mobility 12 conference, held in mid-June at the University of California Irvine. That includes helping transportation startups become viable, training a workforce to support them, and making the industry more sustainable, said the speakers. “We struggle with how to ... [Read More]

Mark Strand, senior economist and senior director of industry insights at Cox Automotive, and Brent Carmichael, director of education at the National Independent Automobile Dealers Association, brought up an event that might have made veteran store owners shiver while generating puzzled looks from younger operators who weren’t turning vehicles at that time. Cash for Clunkers. […] [Read More]

The retail used-car market is proving to be a stable and solid force this year, especially the certified pre-owned segment, Cox Automotive said in its Mid-Year Review last week. On a week-to-week basis, used retail sales have consistently ... [Read More]