By Jon LeSage, Editor, Used Car Market Reports
Here’s a few significant remarketing news developments during the past week:
- Cox Automotive is covering all the bases in third-party dealer solutions now with the $4 billion acquisition of Dealertrack. That means adding Dealertrack and its web-based software solutions including its online credit application network, Dealer Management System (DMS), an online network for arranging vehicle transport and shipping, electronic vehicle registration and titling, and other services. Cox Automotive President Sandy Schwartz says that Dealertrack’s technology suite is an excellent complement to Cox Automotive’s vehicle remarketing services and digital marketing solutions.
- Leather interior lately has been the best-selling add-on feature for selling used vehicles in the CarMax inventory. That replaces last year’s most popular add-on, which was remote start technology. That ranked second for this year, followed by theft recovery systems, collision avoidance features, and then headrest video systems. See other interesting findings in the CarMax Used Car Shopping Report.
- Entry Level Cars are having the worst time for all the car segment – seeing nine consecutive weeks of higher depreciation than the overall market, according to Black Book’s Market Insights Report. Overall and volume-weighted, car values had a 0.34% decrease last week while truck values only decreased by 0.17% during that time.
- Ernst & Young identified five pillars causing a paradigm shift in where automotive retail is heading. The consulting firm asserts that as the car shopper research process become more complex, dealers and OEMs need to spend more time managing trust and staying connected throughout the entire customer lifecycle.