ADM serves Car Dealers, Automotive Marketing Pros and Internet Sales Managers
Here is the latest edition of Beggs on the Used Car Market. It has been a great week for the Black Book team. We have had the opportunity to hit the auction lanes and airwaves gathering data and market intelligence, with additional insight from many auction personnel and dealers on the lanes. I even had the opportunity to get some insight from some auto lenders this past week. Another milestone and exciting opportunity because of recent growth has…Continue
Added by Carroll Nguyen on August 13, 2013 at 2:35pm — No Comments
According to the latest research, women account for over two-thirds of all dealership service visits. Women-Drivers.com, the leader in capturing dealer reviews from women about their dealership experience, has reported the mid-year top auto brands in 'Service'. Scores are measured in WSI® or Women Satisfaction Index on a scale of 5.0…Continue
Added by Anne Fleming on August 6, 2013 at 2:09pm — No Comments
Just prior to looking at the tally of the adjustments the Black Book Editors made during the past week, I was thinking about the various comments made by the survey personnel in their auctions reports that flowed in throughout the week. I also thought about the various comments I heard while attending an auction this past week. And then there were a couple of calls I received and questions about a few vehicles. It all made me think we are in a fair, strong, flat, good, average, and a…Continue
Added by Carroll Nguyen on August 5, 2013 at 2:49pm — No Comments
Text messaging has completely transformed the way we communicate today. Could it also be transforming the way we negotiate a car transaction? A growing number of people have used text message as a way to communicate and negotiate during a transaction on the Swapalease.com marketplace.
Added by Carroll Nguyen on July 30, 2013 at 1:00pm — No Comments
Here is this week's latest used car market report data from Ricky Beggs and Black Book. As we finished the final full week of July the activity took a step back from the previous two weeks. Where a couple of weeks after the Fourth of July brought an uptick to the wholesale activity, this past week the price change levels were very similar to the previous week, while the activity actually slowed back down. I had several dealers and remarketing specialists ask during the week what we were…Continue
Car lease prices on today’s most popular brands dropped -3.8% from year ago payment levels according to June listing data from Swapalease.com. The below data also show that people are staying in their leases at roughly the same amount of time before opting to exit their contract compared with year ago levels.
Added by Carroll Nguyen on July 26, 2013 at 2:06pm — No Comments
Extended warranties for automobiles have been a source of financial pain and frustration for years. Poised to reshape the way people protect their vehicle investments, ForeverCar.com has officially launched as a new company that promises a simple, transparent process offering affordable, top-tier coverage that's as close to bumper-to-bumper as consumers will find in the market.
Backed by a Fortune-500 company, ForeverCar.com was developed by a…Continue
Added by John Sternal on July 24, 2013 at 2:08pm — No Comments
A new survey from national car lease marketplace Swapalease.com reveals new insight into the difference in how men and women view a car lease. Swapalease.com, the nation’s largest car lease marketplace, conducted an online poll of 700 drivers during May. While the results show women have been reluctant to lease in the past, that trend may change in the coming years.
According to the results, 42.2% of women said they had never leased a car,…Continue
Added by John Sternal on July 23, 2013 at 2:41pm — No Comments
Here is the latest Used Car Market Report data from Ricky Beggs and Black Book. What a week it has been around the wholesale markets. In a traditional time of the year with a more passive buyer and generally increasing depreciation of values levels, the activity across the country within the auction lanes indicates a better than expected market. Although there were also comments of some no sales in some lanes, the primary comments from the Black Book…Continue
Added by John Sternal on July 22, 2013 at 9:12am — No Comments
Edmunds.com issued a report showing that current lease penetration (25%) is on pace to eclipse last year’s totals (22%). Swapalease.com also conducted a car shopping survey that recently asked drivers across the nation if they plan to lease their next vehicle. Roughly 66% of the 700 nationwide respondents said they’re “extremely likely” or “likely” to lease their next vehicle. Interestingly enough, of those who participated in the survey, 60.7% are not leasing their current…Continue
Added by John Sternal on July 17, 2013 at 1:48pm — No Comments
MaxTradeIn™, the free website that gives car owners the ability to trade in or sell their used vehicle by selecting local dealers to compete for their business, is expanding with a new service that lets participating dealers place actual…Continue
Added by Shawn Schwegman on July 17, 2013 at 5:18am — No Comments
Black Book Lender Solutions analyzed historical vehicle segment data and has developed projected retention levels for the next 12 to 24 months. Below is the breakdown of projected retention across all 24 segments, with analysis of the segments expected to outperform and underperform.
Pickups Remain Strong
Compact, Mid-Size and Full-Size Pickups have all enjoyed strong retention during…
Added by John Sternal on July 16, 2013 at 5:00pm — No Comments
Here is the latest used car market report from Ricky Beggs and Black Book. If the overall auction activity is an indication there were plenty of empty holes to fill back at the lot. Even with several survey personnel and editor reports indicating the “best crowd in several months”, bidding just to be the last bidder at any price was not the case. Quite a few reports indicated buyers were “slightly selective”.…Continue
Added by John Sternal on July 15, 2013 at 1:00pm — No Comments
National car lease marketplace Swapalease.com reports its latest lease customer credit approval information, with positive trends continuing into the halfway mark of 2013. According to data from Swapalease.com, the year-to-date credit approvals rate recorded at the end of June was 73.9%, down just slightly from 75.3% approvals in May.
Swapalease.com considers a healthy rate when credit approvals reach 70% of all applications. Credit is extremely important in car leasing, and…Continue
Added by John Sternal on July 10, 2013 at 2:01pm — No Comments
We hope you had a fantastic holiday and are ready for a full week of auction activity, wholesale transactions and retail sales. From the joys of celebrating America’s birthday, please take a moment to remember the hero firefighters in Arizona and their families.
Overall Used Car Market
It was a short week within the market but there is still plenty happening that may have an impact on your business. The auctions that…
Added by John Sternal on July 9, 2013 at 6:43am — No Comments
Here is the latest used car market report from Black Book and Ricky Beggs. As we track and report the used market values there is one piece of information that doesn’t come from an electronic data feed or from individual sales data gathered by the Black Book survey personnel. This is the direct insight we glean as we have numerous one-on-one conversations with auctioneers, individual buyers and sellers and various remarketers, while we as editors attend the physical auctions. We almost look…Continue
Added by John Sternal on July 3, 2013 at 8:22am — No Comments
Here is the July specialty market report from Black Book. As we start the second half of 2013 the activity within the specialty markets is continuing to gain strength in the activity taking place and especially within the medium and heavy duty trucks and commercial trailers. Even though supplies are still somewhat limited within the motorcycle and powersports and the recreational vehicle, mostly due to low…
Added by John Sternal on July 2, 2013 at 2:48pm — No Comments
Here is the latest used car market report from Black Book, with the results of the market from the more conventional lanes. When looking at the overall change, both cars and trucks have larger average segment declines for the week. The cars declined only slightly more at -$37 this past week compared to the -$33 the previous week. Some of the individual segments with the largest declining amounts two weeks ago were some of the smaller declining levels this past week. One of the more often…Continue
Added by John Sternal on June 19, 2013 at 12:05pm — No Comments
As a car dealer, you’ve been thoroughly trained on all steps of a sale from greeting through negotiation and final sale. And, you apply these steps well. But, it’s a good bet that even armed with all of your knowledge and experience there have been more than a few times when you found yourself wondering, "What happened? I thought everything was going well and yet the prospect walked out the door."
Here, you will learn unusual but highly effective tips to help you focus on signals that…Continue
Added by Anne Fleming on June 18, 2013 at 2:28pm — No Comments
In a nationwide survey to more than 3,000 leasing drivers, only 12.5% of respondents feel Lincoln is very desirable, while 9% feel the same way toward Volvo according to data compiled by Swapalease.com. Participants were asked to rank their perceptions of certain luxury-type brands including Jaguar, Land Rover, Porsche, Infiniti, Lincoln and Volvo. Porsche scored the highest, with…
Added by John Sternal on June 13, 2013 at 7:33am — No Comments