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How can you stay informed in the used car sector? Don't rely on guesswork - Marketcheck offers unprecedented detail of the used car market, from sales trends to stock levels across the UK. Get the data you need, when you need it.

A mistake for moving used car inventory: discounting. A shift towards marketing for increased exposure saves money and accelerates sales, preserving margins. Curious about your discount-to-exposure ratio? Get started with a free VIN IQ Marketing Analysis ---> https://lnkd.in/gbFtc2MM #sellmorecars #usedcars #agedinventory

Marketcheck provides invaluable insights for automotive dealers by offering comprehensive data on used car listings. Our platform enables dealers to 👇 - Analyse market trends with real-time data. - Track average DOM and pricing strategies. - Adjust inventory based on detailed breakdowns of listings by price bands. - Stay informed about the performance of top dealers and market segments. - And plenty more...

Auto Trader Insight''s July Market Intelligence report is out. Here's a quick summary of the used car market conditions 👇 ➡️ Demand for used cars was up 3% ➡️ Supply was down -5% ➡️ Used cars sold every 29 days, 4 days faster than last year Read the full report 👉🏻 bit.ly/3M4c80A

TODAY is the day! There's still time to join us for our live webinar on strategies for dealerships to thrive in a changing market: https://okt.to/lTSwyR . Hosted by Nick Zulovich, with insights from Aaron Hancock, this webinar aims to educate dealers to adapt and thrive amidst market shifts like rising interest rates, inventory shortages, and more. Don't miss out on this opportunity to optimize your dealership's strategies. Join us today! Dealer Car Search #AutoRemarketing

Is the car market bracing for a major correction? During COVID, used car prices soared 30-40%. Now, inventories are up, and profits are down. So what's the new playbook for dealers in this shifting landscape? City KIA's Raul Gomila shares a surprising insight:

More inventory, fewer sales - signs point to a rationalized used car market with pricing reminiscent of pre-pandemic values. We're entering a prolonged period of a buyer's market for both new and used cars, witnessing a decline in prices. Manufacturer incentives have doubled from last May to this May, contributing to the reduction in transaction prices. Growing new car inventories, coupled with high inventory holding costs driven by interest rates, are pushing prices down. New car discounts are exerting pressure on used car pricing, highlighting the need for a price gap to entice buyers towards used models. The trend indicates that pricing will continue to decrease, impacting trade-in values and potentially leading to negative equity in the market.

Car Dealership Guy ■ Q4 could be the biggest yet for car dealers! But it’ll come down to one thing – vehicle incentives. I recently spoke to Jonathan Smoke, Chief Economist at Cox Automotive Inc., who shares his market outlook, and why he thinks a new tidal wave of demand is right around the corner. ■ Top lessons learned from Jonathan: Local markets vs. national markets. — National data can mislead dealers when it comes to pushing the right offers in their market. — So, focusing on local markets and the immediate needs of those customers is vital. — Optimizing for local buyers also helps dealers compete with bigger groups. ■ Car pricing trends. — Discounts now take off an average of 3% off MSRP. — New car prices have come down only 1% since last year, according to the Consumer Price Index. — But MSRPs have gone up in the same timeframe, and discounts are plateauing. ■ Future sales forecasts. — Cox Auto predicts a strong Q4 will help the annual sales rate hit 15.7M by year’s end. — But this hinges on manufacturers using more incentives in the coming months. — Interest rate cuts will take time to make an impact but are expected to contribute up to a 10% increase in sales. ■ The outlook for subprime buyers. — Mid to low-income earners suffered the most from high inflation. — Even though inflation is declining, increases in credit debt and interest rates are still taking a toll on finances. — Auto loan rates are due to come down 1% by tax refund season 2025. ■ Election uncertainty. — Election season has suppressed demand for over a year but should subside after Nov. — The winner could reshape EVs and tariffs, but change will be slow. — If Trump wins, expect an EV sales surge before tax credits end. The full episode is live! Stream it now — YouTube: https://lnkd.in/etVzahtU Apple: https://lnkd.in/ee6THwXZ Spotify: https://lnkd.in/eX48KDwD

Are we optimistic about the used car market for the rest of 2024? 🤔 I've been monitoring AutoTrader data closely, and it's a mixed bag. Despite continued strong demand (up 7%), supply constraints (down 5%) have been a contributing factor to market health. This has led to increased prices for used vehicles. However, dealers' optimism (60% bullish) is tempered by concerns about potential economic headwinds. Rising interest rates and a potential decline in consumer confidence could impact demand in the coming months. What are your thoughts on the used car market? Do you see a bright future, or are you feeling cautious? 💭

As add-on to our UCO platform is the option to have an inventory analysis along with weekly guidance on bulding a buy list that matches specific market demand by price point and segment. Here’s our founder John Ellis explaining what that means specifically and how it helps our dealer clients maximize their Used Car Optimizer.