Auto Remarketing, May 15, 2020 – Zach Hallowell, vice president of Manheim Digital, discussed how sellers need as many options as possible to liquidate inventory, as the wholesale market “continues its steady climb.” Hallowell said, “No matter what their disposition strategy is, consignors…
Traditionally registration and titling have been complex parts of the vehicle purchase process. This complexity has been amplified with the COVID-19 pandemic in which dealerships have had to rethink how they sell cars while adhering to social distancing and more…
Sales of certified pre-owned (CPO) vehicles decreased 46% year over year in April. CPO sales were on a record-setting pace for the year before COVID-19 and ended down 20% month over month compared to March. For April, only 127,068 CPO units…
Our Chief Economist, Jonathan Smoke, joins us once again from his home studio in Atlanta, GA, with the latest on the impacts of COVID-19 on the automotive industry. This week, Jonathan examines: The latest on COVID-19’s nationwide impact Jobless claims and…
American Honda reports earnings for its full fiscal year and the quarter that ended March 31 on Tuesday, May 12, at the same time that the automaker begins re-openings its U.S. plants. Here are some data points from Cox Automotive…
Welcome to Dealer Forward: Reimagining Automotive Retail, a weekly panel discussion that focuses on building resilience in three key auto retail areas – marketing, dealership performance and fixed operations. The latest panel discussion Re-engaging the Workforce focuses on tactics for re-engaging…
The peak in daily new COVID-19 cases was two weeks ago. The growth in new cases is declining but is still an inconsistent trend. Progress is slow as individual markets each have their own unique pandemic curves. Testing is ramping up…
Any hope for a sales rebound for traditional cars was dashed as shopping consideration for SUVs and pickups climbed to new highs, according to the Kelley Blue Book Brand Watch Report for Q1 2020. The Brand Watch Report is a…
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 11.41% month over month in April. This brought the Manheim Used Vehicle Value Index (MUVVI) to 125.8, a 9.2% decrease from a year ago, and the lowest…
An unexpectedly strong close to April sales, combined with the shutdown in auto production due to COVID-19, has left the U.S. auto industry with much lower inventory volume than a month ago. General Motors and Toyota, in particular, show potentially…
