Analysis

When your favorite college basketball team wins an ugly game against an in-state rival, you may not love the bumps and bruises it took to get there, but you’re certainly happy with the outcome. Same goes for the used-car market, it seems. Despite a slowdown from the prior month and the heights reached in the […] [Read More]

In an industry where efficiency is paramount and margins are tight, the fleet remarketing process represents a critical juncture for automotive and insurance professionals. Traditionally, this process has been akin to navigating a complex river system, where vehicles exiting leases or rental periods are channeled towards different fates based on their condition. However, a closer […] [Read More]

Soon after taking office in June 2023, National Independent Automobile Dealers Association president Gordon Tormohlen said the first item on his to-do list was “to change the tone.” Ask any member of NIADA’s leadership about the association’s most important goals and chances are the answer will include something similar. CEO Jeff Martin said building confidence back is “one of our primary responsibilities.” Chairman Scott Allen said Martin is working to “put the train back on the tracks” and “build those bridges.” It’s an admirable goal. But it obviously raises questions that beg to be answered ... [Read More]

Used-vehicle sales are expected to increase just under 1% this year, according to a forecast from Cox Automotive, with overall used volume expected to climb from 35.9 million sales to 36.2 million and retail used sales (those involving a dealer) projected to climb from 19.0 million to 19.2 million. The year closed a positive note, with dealers seeing approximately a 3% month-over-month rise in used-car sales in December, with year-over-year sales up 1%, Cox said, citing an initial estimate based on data from its vAuto unit. Software, marketing, and data firm ZeroSum also ... [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]

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]