Professional Community for Car Dealers, Automotive Marketers and Sales Managers
If you’re a dealer, no doubt you’ve heard all the buzz concerning recent legislation and regulations about vehicle safety and recalls. Consumers are scared and politicians are responding. With a record number of recalled units over the past 18 months, it’s no surprise that this is a hot topic of discussion and that…Continue
Added by Chris Miller on January 22, 2016 at 6:20am — No Comments
Ever wonder why CarMax is the largest seller of pre-owned vehicles, selling more than any other company? They retail 160,000 used vehicles just about every quarter and make approximately $2,200 per unit front-end profit -- over $350M. If you do the math on 153 locations, each store averages 348 unit…Continue
Added by Bruce Thompson on December 10, 2015 at 5:53am — No Comments
Last year, Twitter partnered with the data firm Datalogix to study Twitter’s influence on sales transactions in the car industry. Twitter provided Datalogix with all the data they had about brand, dealership and consumer Twitter accounts. Datalogix then paired actual vehicle purchases by cross-referencing…Continue
Added by Paul Moran on September 25, 2015 at 6:00am — No Comments
In the world of automotive retail, dealerships are always searching for ways to increase leads. Whether they choose to pursue that goal through third-party lead providers, increase page rankings through better SEO, or various other ways, if there is a customer in their market who wants to buy a car, dealers want an…Continue
Added by Timmy D. James on January 12, 2015 at 3:30am — No Comments
Each year OEMs add more and more advanced technology to their vehicles. As a result, the skill set demanded of today’s technician has transitioned from one that is purely mechanical, into one that is more technology-based. Up until now, technicians have had access to master techs at their respective manufacturers to…Continue
Added by Richard Holland on January 8, 2015 at 5:00am — No Comments
With the push to “go green” there’s been a lot of talk about hybrid and electric vehicles—or just cars that get better gas mileage in general. We’re all up to date—more or less—on that trend, but have you heard about the push for solar-power roads? If you’re selling a hybrid vehicle like the 2015 Prius Plug-in to a future-savvy shopper, the possibility of solar-power roads popping up down the line…Continue
Added by Brad Simmons on November 25, 2014 at 11:48am — No Comments
Black Book expects Luxury-Level car segments will feel the largest depreciation through the balance of the year, largely driven by off-lease returns in lease-heavy segments. Luxury segments in this class will include Premier Luxury (BMW 7 Series, Audi A8, Lexus GS/LS, Mercedes-Benz S); Near-Luxury (Audi A4, Mercedes-Benz C, Cadillac CTS, Acura TL); and Luxury Level (BMW 5 Series, Audi A6, Cadillac DTS, Lexus IS, Infiniti M, Lincoln MKS).
Entry-level and small cars will also…
Added by Black Book on October 21, 2014 at 10:48am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market, with data and insights from Ricky Beggs and Black Book. From all of the reports and seeing the action first hand we know how active most dealers and remarketers have been this past week. The comments within the Black Book survey personnel summary reports this past week as compared to the prior week took on a…Continue
Added by Black Book on October 13, 2014 at 8:44am — No Comments
Equifax Inc. (NYSE:EFX), a global information solutions company, announced that its auto lending customers will now have the added benefit of direct access to Black Book® vehicle value data and loan-to-value (LTV) model data.
By incorporating Black Book data with differentiated Equifax data, lenders can better evaluate LTVs at origination, migration of LTVs, collateral risk and layered risk.
Additionally, using Equifax and Black Book data gives lenders additional tools…
Added by Black Book on October 7, 2014 at 7:06am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market. In last week’s video market blog in addition to some market movement insight, we included a short interview with Paul Seger, Vice President, Asset Remarketing with GE Fleet Services. We have two more of the key industry remarketing personnel interviews from the recent NAAA convention to share with you today. We will…Continue
Added by Black Book on October 6, 2014 at 9:53am — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with insight and data from Ricky Beggs and Black Book. What a week it was as Black Book was on the lanes getting the most current market insight and also attending the annual National Auto Auction Association convention, this year in historic Boston. A huge thank you goes out to all the auctions and remarketers that support Black Book as we…Continue
Added by Black Book on September 30, 2014 at 10:35am — No Comments
Black Book announces the integration of its vehicle valuation data into a number of today’s leading providers of loan origination systems used by auto lenders. Recent integrations include Credex, Compass Technologies and FNI (Financial Network Inc.).
This continued expansion of Black Book data throughout industry loan origination systems allows lending decisions to be made in less time and with lower costs, thus accelerating the approval process. These operational efficiencies,…
Added by John Sternal on September 30, 2014 at 6:34am — No Comments
Welcome to this week’s Beggs on the Used Car Market, with data and insight from Ricky Beggs and Black Book. As we passed through each day with attendance at auctions and watching others online by the editors, it is obvious regarding the interest in the used market while recognizing the overall value movement and the number of no sales, that we are fully engaged in the beginning of the…Continue
Added by Black Book on September 22, 2014 at 8:24am — No Comments
Thanks for tuning into this week’s edition of Beggs on the Used Car Market, with data and insights from Ricky Beggs and Black Book.
The movement in the market continues, and pretty much as was expected. The average segment change for both the cars and the trucks was at -$73 and -$64 respectively, a greater decline for both pieces of the market than the prior week. For the cars it was a very similar…Continue
Added by Black Book on September 15, 2014 at 8:26am — No Comments
24.9% of all car loans were 73 to 84 months long during the first quarter of 2014 according to Experian. This number continues to grow compared with just a few years ago. And while delinquencies are still at historic lows, how can auto lenders determine when vehicles entering their portfolio are expected to reach a position of equity?
Black Book is working with auto lenders to take a close look at comparative collateral data in order to spot this trend. The company recently…
Added by Black Book on September 15, 2014 at 6:17am — No Comments
Welcome to this week’s edition of Beggs on the Used Car Market, with data and insight from Black Book on the used car markets. The opening week of college football brought mostly expected results along with a few surprises, and this Bulldog is pleased. And as the new car sales totals were reported this past week, most every manufacturer, along with the franchised dealer body, is pleased…Continue
Added by Black Book on September 8, 2014 at 8:00am — No Comments
According to Black Book® data, the average price of a used vehicle for model years 2009-2013 saw a slight improvement in August with overall depreciation at -1.3% compared with -1.5% in July. Domestic cars changed the most at -2.5%; import cars changed -1.6%; domestic trucks changed -1.1%; and import trucks changed -0.8%. Average pre-recession depreciation is historically between -1% and -2% monthly, and Black Book expects overall 2014 depreciation of -13.5%.
Added by Black Book on September 8, 2014 at 6:39am — No Comments
Hello and welcome to this week’s edition of Beggs on the Used Car Market with data and insights from Ricky Beggs and Black Book. By the time you are watching or reading this used car market insight, whether you are a fan of college football or not, you either attended a game or at least watched some on TV. This great passage of fall has finally arrived. Hopefully you were satisfied with the…Continue
Added by Black Book on September 2, 2014 at 6:00am — No Comments
Hello and welcome to this week’s edition of Beggs on the used Car Market, with data and insights on the used car market from Ricky Beggs and Black Book. What a week it has been with the editors being tuned into the online activity and getting on the physical auction lanes, while also getting to touch another majorly redesigned full-size utility, the 2015 Ford Expedition. We also had some interesting discussions within the industry regarding…Continue
Added by Black Book on August 25, 2014 at 8:19am — No Comments
More than 37 million vehicles have been recalled so far in 2014. Will these recalls have an adverse impact to lender portfolios? I’d like to see if you have time to review new research from Black Book Lender Solutions that takes a closer look at what lenders might expect. Click here to download the report.
While safety has understandably been the main concern with these and most…Continue
Added by Black Book on August 20, 2014 at 6:00am — No Comments