It’s that time again! This week’s automotive advancements are making a case for the value of CPO programs and diving into the effects of Chrysler’s predictive analytics system. Plus, a look at the updated used-car retail SAAR.
FROM AUTO REMARKETING: Used-Car Retail SAAR at Highest Rate Since February
Even as the weather cools, end-of-year used vehicle sales continue to heat up. The total used-car SAAR is up 1.4% year-over-year, sitting at around 39.6 million, while the used retail SAAR has reached 20.6 million – the highest rate in nine months.
FROM BLOOMBERG: Chrysler Prodded Dealers to Absorb Glut of 40,000 Unordered Cars
Some believe the OEM’s predictive analytics system is putting too much pressure on retailers to move unwanted units. However, dealers were able to turn around the brand’s 101 days on lot to finish out the third quarter with only 5,000 remaining unordered units.
FROM AUTOMOTIVE NEWS: Automakers Build Brands with CPOs
Experts believe dealers should start seeing CPO programs as a point of entry for brand-loyal customers. OEMs like Toyota and Honda have found that a majority of their CPO shoppers end up purchasing a new car from the same brand some time down the line.
FROM CBT NEWS: Tech Trends That Signal the Future of Automotive Retail
A blizzard of tech advancements is headed straight toward the car buying experience. AI-powered digital marketing campaigns help dealers target purchase-ready buyers, while enhanced connectivity and mobility features are diversifying consumers’ ideal in-car experience.
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