Now in the midst of the coronavirus crisis, pressure on residual values is predicted to increase lender’s credit losses as vehicle sales slow and unemployment rises. Now is the time for some creative online solutions.
The partnership and API integration will allow Acertus to connect to AutoIMS as a logistics provider, connecting automotive auction and consignment shippers to capacity of pre-approved, vetted carriers representing 20,000 trucks.
The International Automotive Remarketers Alliance (IARA) will host its third webinar in its 2020 Road to Recovery series, titled “Adjusting to the New Normal,” on Friday, June 5, 2020.
ServNet auctions are gradually reintroducing in-person sales at their operations, following local and state health guidelines as restrictions ease in some areas of the country following the COVID-19 pandemic.
Black Book’s latest COVID-19 Market Update found that while used vehicle values have continued to depreciate since the last week of March, the rate of depreciation has been significantly lower over the last two weeks.
According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
The International Automotive Remarketers Alliance (IARA) will host a webinar on May 22, 2020 titled “Opportunities Discovered," which will focus on the current actions of mega dealer groups and expected buying patterns in the near future.
The Automotive Fleet & Leasing Association (AFLA Canada) held a webinar on Thursday, May 7, 2020 on the Canadian fleet market titled "The Impact of the Recent Economic Downturn on Vehicle Depreciation: What Fleets Need to Know.”
Scott Lilja, 58, senior VP of member services for the National Independent Automobile Dealers Association (NIADA), passed away May 3, 2020 after a long battle with multiple myeloma.
The COVID-19 pandemic continues to impact wholesale values for both cars and trucks, but sales rates have started to increase on the lanes, Black Book reported.
Wholesale used vehicle prices dropped 11.41% month-over-month for the month of April, bringing the Manheim Used Vehicle Value Index to 125.8, which is 9.2% lower than it was at the same time in 2019, and is the lowest level seen in three years.
The International Automotive Remarketers Alliance (IARA) announces the addition of Kim Hunt to the position of systems and communications administrator.
Innovative Funding Services (IFS) will begin operating under a new name and, effective immediately, will be known as Tresl.
