GreenLight Remarketing | Trade-ins, risky business and more

After starving for inventory during the Great Recession, automobile dealers have turned to trade-ins as a reliable profit center, reports Karen Jones in the current edition of GreenLight Remarketing magazine. As new car sales continue their climb back toward pre-recession levels, trade-ins are com­ing back in higher numbers with greater value, Jones writes in her article, “Trading Up.” Jones’ story and others appear in our GreenLight Remarketing video here.

 

Welcome to GreenLight Remarketing TV, brought to you quarterly by the authoritative magazine about innovative automotive remarketing:

TRADE-INS
After being starved for inventory during the recession, dealers have turned to trade-ins as a profit center. “Dealers love trade-ins,” Ricky Beggs told Greenlight Remarketing. As car sales continue to climb back to pre-recession levels, trade-ins are arriving at dealerships in higher numbers with greater value. Beggs predicts 15.3 million new sales including 9.1 million trade-ins for 2013.

MANHEIM SIMULCAST ON MOBILE
Manheim auto auction house has introduced Simulcast on Mobile to its smartphone app. Dealers can now bid on cars in the auction lanes from anywhere they are. Simulcast purchases account for 16 percent of Manheim’s business, and mobile is expected to account for a huge part of that percentage – and contribute to further growth – as 1 in 3 customers already access Manheim on a mobile device.

RISKY BUSINESS
Will the increase in used vehicles arriving at dealerships drive down prices? Analysts are watching the increased supply of used vehicles with caution, and identified some of the risks to watch for. One segment that is top of mind for analysts is luxury vehicles. Still, many experts see little risk in the expected volume increase and anticipate a strong 2013 for remarketers.

CPO BOOM
The Certified Pre-Owned market is continuing its winning streak from 2012 into 2013, showing no signs of slowing, according to analysts. CPO vehicles are attractive to buyers for the financing arrangements, maintenance programs, and 150-point inspections. CPO vehicles also bridge the gap between new cars and pre-owned  vehicles, providing buyers with another option when looking for their next vehicle.

You can read about all these stories and more in Greenlight Remarketing, a publication from Santander Consumer USA Inc.

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