Current sales of electric vehicles are largely driven by incentives, and while incentives help move the metal on the new-vehicle front, they have a negative effect when it comes to residual values.
EchoPark doubled the amount of used vehicles it sold in the first quarter of 2019, signaling a growing demand for used vehicles. .
Digital disruptor Carvana was the nation’s eighth-largest seller of pre-owned vehicles in 2018, according to the latest Automotive News rankings of the Top 100 Used Retailers.
Insurance Auto Auctions has appointed Vance Johnston as its new chief financial officer.
Overall car segment values were up 0.24% last week, compared to 0.29% the week before. Overall truck segment values were up 0.16% last week, compared to 0.19% the week before.
The class will launch in Nashville, Tenn. on May 16-18, according to Auction Academy.
Overall car segment values last week were up 0.29%, compared to up 0.25% the week before. Overall truck segment values were up 0.19% last week, compared to a decline of 0.01% the week before.
The U.S. market for fully electric vehicles has reached record volumes with 208,000 new registrations in 2018, all while loyalty rates of EV buyers continues to grow, according to recent analysis by business intelligence firm IHS Markit.
The spring / tax season market uptick helped make March a strong month for used vehicle sales, and late-model sedans from fleet leasing consignors continue to outperform their SUV/CUV counterparts, according to Tom Kontos, KAR's chief economist.
View photos from the 2019 Conference of Automotive Remarketing, which took place from March 25 to 27 at Caesars Palace Las Vegas.
View more photos
There are presently 52 million vehicles with open recalls on the nation’s roadways, a significant decline from the 63 million in 2017 and the 57 million in 2018, according to the latest annual findings from Carfax.
Manheim cut the ribbon on a new, 80,000-square-foot body shop and reconditioning center at the auction provider’s Orlando, Fla., center Tuesday. The new facility is the product of a nearly $5 million investment in Manheim’s second largest wholesale location.
Black Book analysts forecast an annual depreciation rate of 15% in 2019 as the supply of used cars and trucks increases, up from a "noticeably strong" 12.4% depreciation rate in 2018.
Insurance Auto Auctions, Inc. has opened IAA Lexington, its fourth location in South Carolina, in order to accommodate its newly expanded customer volume needs.
