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Wholesale Depreciation Among Cars Accelerated Last Week
Wholesale vehicle depreciation saw an uptick last week, as the car segment in particular saw a decrease in values, according to Black Book's July 15 Market Insights report.
Wholesale vehicle depreciation saw an uptick last week, as the car segment in particular saw a decrease in values, according to Black Book's July 15 Market Insights report.
The average value of used fleet vehicles increased 1.5% in June from May, but remain 4.3% higher than a year ago, according to KAR Auction Services' ADESA unit.
Copart has opened a new location in Buffalo, New York, marking the sixth location for the company in the state, the company announced.
Copart has opened a new location in Hartford, Connecticut, marking the second location for the company in the state.
The new integrations are meant to enable greater access to trades, increase buyer confidence, and improve the dealer experience end-to-end, the company stated.
Wholesale vehicle depreciation continued to accelerate last week, a trend that is expected to continue for the next few weeks, as seasonal patterns take hold, according to Black Book's July 8 Market Insights report.
Black Book's latest Used Vehicle Retention Index for June (115) shows a 0.6% increase from May (114.4), which reflects an incremental improvement in used vehicle values.
Dave Angelicchio died on July 7 after battling cancer for three years.
Following its separation from KAR Auction Services, Insurance Auto Auctions (IAA) has announced the members of its board of directors.
The 2019 International Automotive Remarketers Alliance (IARA) Spring Roundtable was co-located with the 2019 Conference of Automotive Remarketing at the Caesars Palace Las Vegas.
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The average transaction price for a light vehicle in the U.S. in June was $37,285.
Lower depreciation among luxury cars helped decelerate overall car segment depreciation, while truck segment depreciation remained stable.
Drew Shull has been appointed as VP of sales and client experience, an appointment which aims to help create new client relationships and foster PAR's existing customer base.
The average age of light vehicles in operation in the U.S. has risen again this year to 11.8 years, according to new research from IHS Markit.
