Welcome to this week’s episode of Used Cars Weekly, the original CBT News show dedicated to bringing car dealers best practices and tips for the used car department, in-depth dealer interviews, hands-on dealership strategies, as well as vendor analysis. Today, host Jasen Rice, founder of Lotpop, is joined by Bill Zadeits, President and Group Publisher of Cherokee Media Group, which produces Auto Remarketing magazine.
Over the last 16 months, Zadeits and his team have made changes to their business plan. One of those changes was to produce an industry white paper twice a year, to specifically share was is happening in the used car market.
When it comes to auctions, Zadeits believes the process has changed just like every other aspect of the auto industry. The acceleration of innovative technology solutions has allowed people to think in different ways. The purpose of auctions is to make sure car dealers have the best pre-owned inventory. However, car dealers are now sourcing premium used vehicles from other parties as well.
Additionally, Zadeits says the industry has seen incredible amounts of travel over the Spring and Summer month. He believes the industry is going to see some impact on rental cars at the end of the year. Also, Zadeits says, some form of COVID will be around, and cr dealers will need a contingency plan in place. As a society, we have to learn how to live with it.
Cherokee Media Group is also hosting the upcoming Used Car Week 2021 event in Las Vegas later this fall. For the first half of the event, Zadeits says attendees can expect preowned and CPO content. In the second half, attendees can learn about the wholesale side of things. Zadeits says, that they missed everyone last year and are excited about this year’s conference.
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