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inventory

Used car industry seeing more inventory, all-time high prices

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Customers have more choice and dealers have more to offer shoppers in the used car market, according to vAuto Available Inventory. Used cars have become more plentiful in recent weeks on a combination of factors but despite more inventory, the average list price continues to climb. The trend comes as new car sales have rebounded […]
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CarLotz

Five takeaways from used-car consignment company CarLotz public merger

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Even in light of the COVID-19 pandemic, business is still brewing for companies in the automotive industry. On October 22, 2020, used-car consignment company CarLotz went public in a merger with Acamar Partners Acquisition Corporation. The corporation valued the company at $827 million, which also includes debt that CarLotz also owns. With the rise in […]
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vehicle age

The Average Vehicle Age on the Road Today Keeps Climbing –...

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New analysis from IHS Markit points to record-breaking vehicle ages on the road today. Over the past few years, vehicle age has been slowly trending upwards and is now at an all-time high of 11.9 years. In fact, 1 in 4 cars and trucks you see are at least 16 years old. But why? Here to […]
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used car

Used Car Sales Could Win Out If Customer Fears are Quelled

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J.D. Power forecasted that dealers would face higher prices for used car inventory after a strong start to pre-owned sales in 2019. Used vehicles are notoriously profitable with higher sales gross and above-average F&I income. The first quarter started just as well as 2019, but the coronavirus pandemic has sharply cut into sales figures. Still, […]
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Randy Kobat

Navigating Through Today’s Used Car Market – Randy Kobat, Cox Automotive

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At NADA 2020 in sunny Las Vegas, host Jim Fitzpatrick was joined on the CBT Stage by Randy Kobat, Sr. Vice President of vAuto,...
used-car

How Dealers Can Best Take Advantage of the Potential in the...

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At NADA 2020 in sunny Las Vegas, host Jim Fitzpatrick was joined by Patrick Janes, Director for used-car solutions at vAuto. VIDEO TRANSCRIPT: Jim Fitzpatrick: Dealers...
used-car

Should Your Dealership Focus Its Sales Campaigns on Acquiring Trade Vehicles?

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The used car market is strong and shows no sign of slowing down. Dealers across the country are devoting more resources to building up their used-car sales departments. With all of this opportunity, there are plenty of ways to improve your used-car processes and sales. Here are some best practices to consider across various aspects […]
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Edmunds Used Car Report Outlines Rising Prices

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Are you considering buying a used car? A March 21, 2018 analysis from Edmunds reported that used vehicle sales hit a record high in 2017, but a June 12, 2018 report detailed that the rising prices of used vehicles as well as unsteady gas prices are creating hesitation for some buyers. The more recent report […]
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used car

Used Car Sales Not Slowing Down

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We’ve all seen at least one CarMax superstore making a large blue and yellow presence on the side of the road somewhere. The giant used car seller is not slowing down – in fact, it plans to open dozens of new stores within the next few years – but neither are other used vehicle vendors […]
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Used Car

Edmunds: Used Car Sales Hits A Record High

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March 21, 2018- The latest Edmunds Used Car Report indicates that used car sales hit a record high in 2017. They show a 1.6 percent increase in sales from 2016 and a 4.3 percent increase from 2012. Edmunds attribute this spike to increased replacement demand due to Hurricanes Harvey and Irma and increased used inventory due […]
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