New-Vehicle Sales Expected to Fall 6% in July

Kelly Blue Book expects 1.43 million new vehicles will be sold in July, which is 6% less than the same time last year. The forecast would put the seasonally adjusted annual rate at 16.7 million for the fifth month in a row with a new-vehicle SAAR below 17 million.

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Subcompact Luxury Crossovers Lead Weekly Depreciation

The subcompact luxury crossover segment saw the highest depreciation among all segments last week, after several weeks of low depreciation, according to Black Book’s July 24 Market Insights report.

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IAA Offers Active Inventory Management Software

Insurance Auto Auctions (IAA) has introduced its Active Inventory Management software that's designed to streamline the management of salvage vehicle auctions, according the the KAR Auction Services unit.

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Former GM Returns to Dealers Auto Auction of Oklahoma City

Bruce Beam has returned to the post of general manager of Dealers Auto Auction of Oklahoma City (DAA/OKC), according to a company announcement.

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June Wholesale Prices See Slight Dip

June was an average month in terms of wholesale prices, according to J.D. Power Valuation Services. It reported this week that wholesale prices of used vehicle up to eight years in age fell 2.2%, which in line with the 2.2% average losses recorded over the past five years.

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Leasing Down Through First Half of 2017

Through the first half of this year, 2.1 million vehicles have been leased, a 4.4% decline from a year ago and the first time in four years that leasing has seen a year-over-year decline, according to the latest Edmunds Lease Market Report.

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KASP Auto Auction Names Vice President of National Sales

KASP Auto Auction has named Michele Pierog as vice president of national sales. Pierog, who has over 15 years of experience in the industry, most recently served as director of national sales at Auto Auction of New England.

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RMS Automotive and vAuto Partner to Simplify Manufacturer Remarketing

RMS Automotive and vAuto have partnered to make it more convenient for dealers to evaluate and acquire manufacturers’ premium off-lease and off-program vehicles before they get to auction, according to a company announcement.

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Online Marketplace Shift Draws BMW Investment

Online used vehicle marketplace Shift has raised $38 million in a series C round of funding led by BMW's venture capital business unit, iVentures. Other participants included DFJ, Highland Capital, G2VP, and Goldman Sachs Investment Partners.

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Hertz to Announce Second Quarter Financial Results

Hertz Global Holdings Inc. plans to report its second quarter 2017 financial results on Tuesday Aug. 8.

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