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Prices for small used cars are climbing to unexpected levels- a sign that demand is growing as price-sensitive consumers face dwindling options in the new-car market.
At auctions and in the used-vehicle side of a dealership, if a dealer wants to try something that might work better, there are no factory constraints.
TradeRev-H, an enhanced version of the TradeRev app for one-hour online auctions, can change how vehicle inspections are done.
CarMax, long the volume giant in the used-car market, also leads its rivals in profits and margins -- but challengers, however far behind, are on the rise.
German car-rental company Sixt is the first third-party seller integrated into MBonDemand, a Web-based platform for sales of used Mercedes-Benz vehicles.
The sale of a 2017 Mercedes-Benz G550 for $239,500 in late April shows how ACV Auctions, an app-enabled dealer-to-dealer auction platform, has matured.
My guess is that it has been going on for years — new-car dealers have been making more money on used cars than new. It has been the industry's great secret.
Online used-car retailer Carvana's first-quarter net loss widened to nearly $53 million, while revenue and vehicle sales both more than doubled to records.
Net income at KAR Auction Services, parent of ADESA auctions, jumped 30 percent in the first quarter largely on a sharp drop in income taxes.
Sonic Automotive and Group 1 Automotive are expanding their used-vehicle plans, even as AutoNation pauses its used-only store plans to evaluate results so far.
At the 2018 NADA Show, several vendors demonstrated appraisal tools that promise to take the guesswork out of how much a dealership should offer for a trade-in.
The auction industry is likely to see fewer traditional wholesalers going forward, but they are evolving into online and smartphone app-based operations.
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