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Cox Automotive analysts say U.S. dealers reported strong traffic and profits but have remained largely pessimistic in their view of the auto retail market in the second quarter.
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More consumers in the prime and superprime credit tiers opted for used vehicles as concerns around affordability grew in the first quarter, according to the latest report from Experian.
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Flick Fusion reports consumer views of full-motion walkaround videos grew at a 20% clip in Q1, outpacing stitched-photo videos and accounting for 18% of all inventory video views.
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Whether your dealership is big, small, profitable or unprofitable, it’s time to take a fresh look at how you’re measuring success.
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Carvana’s first-quarter results include triple-digit gains in net revenue and consumer-sourced inventory, but losses continue to mount, growing 57% to $82.6 million year-over-year.
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Carvana broke into the top 10 in its first appearance on Automotive News’ list of the nation's Top 100 Used Retailers, more than doubling its output to more than 94,000 units and outpacing the Asbury, Larry H. Miller, and Ken Garff groups.
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Cox Automotive’s 2019 Car Buyer Journey report finds consumers are spending less time in dealerships and in the market, accelerating the decisionmaking process as a growing affordability gap continues to threaten new-vehicle sales.
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Black Book and Fitch Ratings’ annual used-vehicle depreciation and auto ABS report predicts a 15% depreciation rate for U.S.-registered vehicles, up from 12.4% in 2018.
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June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.
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Dealer tech expert has a process for converting your new-car operation into an Amazon-like online marketplace.
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