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Used-Car Prices Reach 13-Year High in Third Quarter
Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
Lease credit applicants registered a 70.9% approval rate in October on Swapalease’s marketplace, according to a company announcement.
Manheim has promoted four of its associates to general manager and expanded the roles of another, the auction company has announced.
Ford and Toyota had the most models named as having the best certified pre-owned value among 37 segments by Vincentric, the vehicle valuation firm announced.
Full-size cars and SUVs depreciated the most in the past week, as vehicle usage and demand has fallen in recent weeks even in the face of lower gasoline prices, according to Black Book's Nov. 13 Market Insights report.
KAR Auction Services has acquired Reno, Nev.-based Clearplan, a digital platform for recover agents, drivers, forwarders, and lenders that provides a centralized hub for repo workflow and logistics management.
A significant part of the automotive value chain, Enterprise’s operations result in over 1 million used vehicles that become available for sale every year.
Manheim will invest $13 million over the next three years in a wide-ranging program to create a safety culture at its auctions, the Atlanta-based company announced.
Hertz's Q3 earnings are a 7% increase from the same time last year.
Following last year’s record-breaking attendance, the 2018 Summer Roundtable once again saw a nearly record breaking number of attendees for this year's event.
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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
Revenues grew to a record $2.8 billion in the third quarter on both higher volume and increased underlying pricing in the Americas.
Seasonal depreciation patterns are expected to take hold through the rest of the year, with vehicle values declining on a wider scale.
Manheim has expanded its mobile auction network this year, and plans to expand its network further into new cities in the northeast, Midwest, mid-Atlantic, and southeast in order to meet dealer and consignor demand for remarketing options in those cities.
