Jan. 29 will be an important day for buy-here, pay-here dealerships. The Internal Revenue Service announced on Monday that Jan. 29 is the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns. The IRS expects more than 128.7 million individual tax returns to be […] [Read More]

As 2023 wrapped up, Tesla took a bit of a hit, with a recall announced that covered almost all new vehicles sold in the U.S., as well as over 200,000 in Canada. According to Transport Canada, in certain circumstances when Autosteer, Tesla’s autopilot feature, is engaged, the prominence and scope of the feature’s controls may not be sufficient to prevent driver misuse of the advanced driver-assistance feature. Auto Remarketing Canada reached out to Daniel Ross, senior manager, industry insights and residual value strategy at Canadian Black Book, to get more insight into the road Tesla is on, and whether their niche market is reacting to recent red flags from the automaker. One of the most recent, of course, is the 2023 sweeping recall. Interestingly, Ross said although he doesn’t see the recall as ... [Read More]

2024 is kicking off after a month of continued wholesale price declines. According to the Canadian Black Book Used-Vehicle Retention Index, prices in Canada fell by an average of 2.3% in December. Declines in value continued at the quickest sustained rate since the beginning of the COVID-19 pandemic, CBB reported. The index now sits at […] [Read More]

Open Lending highlighted three main findings from its first Near- and Non-Prime Consumer Update, a quarterly proprietary data report on automotive finance trends in the near- and non-prime credit segments. Researchers found not only how much originations in that credit segment have softened, but also learned which brands lead the way in vehicle deliveries for […] [Read More]

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a dealer panel titled, “The Changing Used-Car Manager’s Role, and Now What?” The session was moderated by former dealer Kraig Quisenberry, who is now with ACV. The other participating dealers included: […] [Read More]

With the new year comes new advertising campaigns, and two of the giants in the used-vehicle business have launched theirs. CarMax, one of the nation’s largest used-car retailers, announced a new commercial spot based around the much-maligned minivan, a vehicle that a few years ago was all but pronounced dead by USA Today. But CarMax […] [Read More]

Though still well above pre-pandemic levels, wholesale vehicle prices closed 2023 with a larger than expected (or typical) decline, capping a two-year run of downhill movement. That’s according to separate analyses released Monday by Cox Automotive and Black Book. Cox Automotive’s Manheim Used Vehicle Value Index fell 7.0% year-over-year in December and dropped 0.5% month-over-month, […] [Read More]

Car shipping platform Super Dispatch was selected as a 2024 Merit Award Gold winner in the automotive and transportation program as Transportation Management Solution of the Year. The Merit Awards, founded in 2022, recognize businesses that have contributed to the continued growth of the market worldwide. Gold, silver and bronze award winners for various categories […] [Read More]

The used electric vehicle market is growing, and perhaps more important, used EV prices are coming down, according to research from EV data and analytics provider Recurrent. The company’s Q1 Used EV Market Report found the average listing price of a 2017-2019 Tesla Model 3 has dropped below $30,000. That’s an important milestone because it […] [Read More]

Drivers who bought their cars used show little loyalty to their current brand when buying another vehicle — especially when they buy another used vehicle— according to the latest research by LexisNexis Risk Solutions. The data and analytics firm’s 2023 Automotive Brand Loyalty Study found just 21% of used-vehicle owners who bought their next vehicle […] [Read More]