In more ways than one, this is sounding like a broken record after what was already a strong earnings report week for the publicly traded auto dealer groups. Lithia, AutoNation, Asbury and Penske reported record third quarter 2021 earnings during their calls in late October. On Oct. 28, Sonic Automotive and Group 1 Automotive announced […] [Read More]

Despite vehicle price increases and tight inventory supplies caused by the global microchip shortage and the lingering pandemic, used-car retailers CarLotz Inc., Vroom Inc., and Shift Technologies, posted revenue gains and unit sales increases in the third quarter. And all suffered net losses in the three-month period that ended Sept 30. CarLotz’s tactical changes CarLotz’s […] [Read More]

The industry has seen more than its fair share of changes since the beginning of 2020. With much of the country on lockdown early in the pandemic, dealers were forced to expedite their digital retailing operations, enabling consumers to not only research for a new vehicle from the comfort of their home, but also have […] [Read More]

Finalized just ahead of Used Car Week, Ship.Cars and Montway Auto Transport announced a partnership on Friday. The automotive transport technology firm and third-party logistics brokerage company said in a news release that their customers will gain increased exposure to extra carrier capacity with additional focus on visibility and automation in the post-dispatch process. As […] [Read More]

CarGurus announced the latest locations to its phased national rollout of CarGurus Instant Max Cash Offer on Thursday. States where consumers looking to trade in their vehicles for what CarGurus strives to make the best possible offer and hassle-free experience now includes New York, Maryland and Minnesota. Launched in late July, CarGurus Instant Max Cash […] [Read More]

I learned a lot playing high school football — gridiron lessons that transcend time and that even now at age 54, still ring true. In addition to learning the basics — like blocking, tackling and the rules of the game — we learned a bigger-picture view and perspective. A lesson that continues to resonate with […] [Read More]

Welcome back, folks. We’re excited to resume the in-person Used Car Week festivities after a year away, and we’re thrilled you’re here. For many of us, this is an annual tradition. Yet we’re also welcoming a lot of new faces this week. With that said, here’s a primer (or refresher) on what the week will […] [Read More]

Just like consumers might peruse Rotten Tomatoes to see how a movie is faring with critics before buying a ticket, they're now often checking dealership ratings and reviews before buying a car. Noah Lee, director of sales & engineering at Dealer.com, joins the Auto Remarketing Podcast to discuss the impact of dealership ratings and reviews […] [Read More]

Perhaps emphasizing how that 2021 model that could be a certified pre-owned vehicle in your inventory can connect to the potential buyer’s smartphone might not be the best pitch option for your dealership sales staff. According to the J.D. Power 2021 U.S. Multimedia Quality and Satisfaction Study, the top-cited problem for new-vehicle owners is connectivity […] [Read More]

CarMax, the nation’s largest used-vehicle retailer and Carvana, a used-vehicle retailer known for its giant car-vending machines, each generated strong unit sales and revenues and significantly increased the number of vehicles they bought from consumers. But each wrestled with managing increased demand from consumers, in their most recent respective quarters … [Read More]