Used-vehicle prices at wholesale, dealer-only auctions ended 2021 at 48.1% higher on average than December 2019 and 34.8% higher than December 2020, according to KAR Global.
Focusing on four key strategies will enable your dealers to combat the long-term effects of the pandemic and inventory shortages.
Weekly declines continued last week, but the rate of decline is still less than is typically experienced this time of year. Sellers are holding firm to floors, and we have yet to see conversion rates return to pre-holiday levels.
The new rating system requires safeguards that help drivers stay focused and not treat systems, such as Tesla's Autopilot and Volvo's Pilot Assist, as self-driving cars.
The 12th annual Cox Automotive Car Buyer Journey Study reveals that overall car buying satisfaction remains at a near-record level, with the number of highly satisfied buyers higher than before the pandemic.
Toyota Motor Corp. announced it will not reach its goal of manufacturing 9 million cars in its fiscal year, which ends in March.
Luxury car brands, such as Rolls-Royce, Bentley, Porsche and BMW saw record sales in 2021.
The declines are continuing to close out the second week of 2022 with majority of segments reporting drops in valuations.
RM Sotheby’s had a great year, reporting auction sales of $406 million and private party sales of $150 million, for a grand total of over $550 million.
The policy reversal will make GM eligible for government fleet purchases by the State of California.
The new business helps dealers put used car lots online to compete with Carvana and other online auto retailers.
The Cox Automotive Industry Insights is sharing three quick and valuable data points.
Moving into 2022, NADA anticipates new-vehicle sales of 15.4 million units – an increase of 3.4% from 2021.
The year is starting off with declines in many segments, but it remains to be seen if we reached the peak of increases before the holidays or if we will return to increasing values as the market prepares for spring.
The EV race heats up as Ford Motor Co. and General Motors Co. highlight new electric pickups while other car companies get ready to release new battery-powered models in 2022.
Kelley Blue Book editors rank and comment on the 10 Best Back-to-School Cars for 2019, all starting at around $20,000 or less and still available on new-car lots.
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