News

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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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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Lease Prices Remain Stable in July

The average monthly payment for a leased vehicle in July has remained essentially flat from the previous month when the average monthly payment was approximately $340, according to online lease deal marketplace Wantalease.com.

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Vehicle Depreciation Shows Pockets of Strength at Midway Point

The average price of a used vehicle for model years 2012 to 2016 decreased in value 1.3%, slightly more than the 1.2% decrease in May, according to Black Book. The price of cars overall dropped 1.8%, while trucks decreased 0.8% in value in June. All vehicles are averaging a 12-month depreciation of 16.7%.

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Wholesale Prices Softening Despite YOY Increase in June, Kontos Says

Average wholesale prices in June were down vs. June but up vs. a year ago. A drill down into the data, however, reveals price softening on a year-over-year basis when accounting for sales type, vehicle age, model class, and mileage, KAR Chief Economist Tom Kontos said today.

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Manheim's Dealer-Based Mobile Sales Grow 52%

Manheim's mobile sales have grown 52% in the past year from online auctions hosted at 47 locations around the country, Manheim announced.

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Manheim to Open Six Auctions in 'Underserved Markets'

Manheim will open six smaller auctions in areas the company views as "underserved markets," including Alabama, Georgia, Illinois, North Carolina, West Texas, and Utah, Manheim has announced.

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KAR Hosting NAAA's Safety Day at ADESA Boston

KAR Auction Services, Inc. is hosting the National Auto Auction Association (NAAA) Safety Day at the company’s ADESA Boston auction on July 25. Here, leaders from NAAA member auction across the country will learn, listen and exchange best practices on how the industry can better address safety risks, according to a company announcement.

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instaVIN Updates Website for Vehicle History Reports

Remarketing and technology solutions provider KAR Auction Services Inc. announced the launch of a new website for its instaVIN business unit, which provides vehicle history and title history information for dealers, commercial customers and consumers.

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Used Vehicle Values Decline 4.5% in Past Year

Black Book's June Used Vehicle Retention Index that measures wholesale values increased 0.7 to 113 from the May level. The index has declined 4.5% in the past 12 months.

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