Premium Articles

Federal standards and incentives aimed at preventing climate change and promoting the adoption of electric vehicles are on cruise control, but dealers are seeing their EV sales stall. According to dealers, their trade associations and industry analysts, consumers are put off by the prices of EVs — which are generally steeper than internal combustion engine vehicles. Additionally, vehicle buyers’ concerns about availability of charging stations and how far an EV can go on a single charge are sales barriers too, they agree. The federal push toward EVs is ... [Read More]

The final tally didn’t break the record set in 2019 or match the rebound year of 2021, but certified pre-owned vehicle sales for 2023 were up nearly 7% and represented one of the strongest years ever for the CPO market. That’s according to Motor Intelligence data provided to Auto Remarketing, which shows there were approximately […] [Read More]

Battery electric vehicles were a tiny percentage of the wholesale market in 2023, but it is a market segment that is forecast to show exponential growth. Auctions are preparing with investment and training for more BEVs to enter their lanes. “We believe EVs are the future,” Stephen Smith, vice president of product and engineering at Cox Automotive, told Auto Remarketing. Manheim, Cox Automotive’s auction division, sold around ... [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]

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]

It’s the end of an era as historic Canadian auto auction Manheim Toronto completed its last sale as 2023 wrapped up. With OPENLANE’s recent purchase of Manheim Canada, the long-standing Toronto auction has closed, as Manheim plans to exit Canada.  Auto Remarketing Canada spoke with auto auction industry veteran Brad Hart to get a sense of the history of Manheim Toronto ... [Read More]

There is roughly a 10.2 million-unit deficit in the number of 1- to 3-year-old vehicles expected to re-enter the pre-owned car market in the near future, leading to a “sparse and expensive” picture for dealers’ used-car inventories, Cars Commerce says in its 2024 Automotive Trends report released Wednesday. And if the company’s data is any indication, consumers and dealers alike may be motivated to utilize the trade-in route. Citing data from its Accu-Trade unit, Cars Commerce said that trade-in values on 1- to -5-year-old used vehicles are ... [Read More]

Dealer principal. That’s a big hat to wear. But it’s not the only title that Danny Zaslavsky holds. Zaslavsky is dealer principal at Country Hill Motors in Merriam, Kan., and is also co-founder and managing partner at online inventory platform VINCUE, as well. Auto Remarketing caught up with Zaslavsky to see how he juggles his two executive positions, as well as how his dealership and online platform are addressing a difficult inventory landscape — one where there’s still simply not enough quality used vehicles that are also affordable ... [Read More]

The electric vehicle era is here, and when its effects trickle down to the used-car market, auto dealers will have to rethink everything from the ground up. That begins with this seemingly simple question: What do customers want in a pre-owned electric vehicle? A panel of experts took on that question in the “Customer Satisfaction Has Changed in the EV Era” session during the Used Car Week conferences in Scottsdale, Ariz., using questions asked by consumers as a guide ... [Read More]