Editor’s Notebook: Edmunds Joins the Used Car Listing Competition

By Jon LeSage, Edi­tor, Used Car Mar­ket Reports

Here’s my thoughts on sig­nif­i­cant news of the past week and what it means:

  • Edmunds.com joined a grow­ing move­ment in remar­ket­ing – a used car list­ing ser­vice – this week. It wasn’t iden­ti­fied under the used car list­ing cat­e­go­ry, but it is one and joins ranks with Cars.com, CARFAX, Auto­trad­er, and True­Car. Deal­er mem­bers in the Edmunds pro­gram can present their used vehi­cle inven­to­ry to in-mar­ket shop­pers with a Vehi­cle Pro­tec­tion Plan and a $200 gas card; both of these offer­ings are under­writ­ten and admin­is­tered by Edmunds. It came out of a six-month test pro­gram in Ari­zona, Flori­da, Geor­gia, Illi­nois, and Neva­da; par­tic­i­pat­ing deal­ers found three times the engage­ment of Edmund’s exist­ing used car pro­gram. Deal­ers who offered guar­an­teed low­est prices did the very best out of the par­tic­i­pat­ing deal­ers.
  • Gen­er­al Motors is con­sol­i­dat­ing its remar­ket­ing orga­ni­za­tions . GM Finan­cial will con­tin­ue to sell vehi­cles at Man­heim, ADESA, and inde­pen­dent auc­tions. GM deal­ers can access closed, open and open online sales; that includes 33 closed sales loca­tions. GM Finan­cial will also con­tin­ue uti­liz­ing its GMFDealerSource.com online chan­nel. Here, GM deal­ers can track upcom­ing matu­ri­ties, get pay­off quotes, ground return­ing cars, and buy off-lease units.
  • Sec­ond quar­ter used vehi­cle val­ues were in line with expec­ta­tions, accord­ing to Manheim’s quar­ter­ly report.  â€śWith pric­ing near­ly iden­ti­cal to last year at this time, con­sumers con­tin­ue to see the val­ue in pur­chas­ing used vehi­cles, which remain a prof­itable part of a dealer’s busi­ness,” said Manheim’s Tom Webb. Com­pact Car prices were down 7.2% in June rel­a­tive from the pre­vi­ous year, and once again con­tin­ued to be the weak­est seg­ment. Pick­ups and Vans held the top spot with pick­ups up 6.7% and vans up 2.7% on a year-over-year basis.
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