Ready Logistics and NextGear Capital have added a new feature to their Transportation Financing program that makes it simpler for their auction clients to add transportation costs to their floor plans.
CU Direct has partnered with CU Direct Connect in order to better meet the growing indirect lending needs of credit unions and to strengthen the position of the credit union industry with auto dealers across the country.
New vehicles sales in May grew by 4.8% on a year-over-year basis in May, while average incentive spend increased for the 38th month in a row.
Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.
KAR Auction Services has rebooted its Openlane upstream digital remarketing platform with data science, A.I., machine learning, and cloud-based technology so it streamlines the experience for buyers and sellers, the company announced.
Wholesale vehicle values continued to dip last week, realizing the biggest declines of the past four months, according to Black Book’s June 18 Market Insights report.
Used compact vans and several categories of crossovers increased in value in wholesale sales, while luxury vehicles made up seven of the 10 lowest performing categories among 2013-2017 vehicles in May, according to Black Book.
With the labor market continuing to strengthen and economic activity rising at a solid rate, the Federal Reserve raised the Federal Funds Rate a quarter percentage point for the second time this year — putting the target for short-term rates in the 1.75 to 2% range.
Used vehicle prices reached $19,657, which represented a 2.2% year-over-year increase, the report noted.
ADESA Canada has promoted its former senior director of business development, Steve Langdon, to vice president of dealer sales, according to a company announcement.
Manheim has opened a new retail reconditioning center at Manheim San Francisco Bay, marking the 19th retail reconditioning site that Manheim has opened, according to a company announcement.
Matt Itami will serve as the general manager of ADESA Chicago, while Cheryl Toler will serve as the general manager of ADESA Fresno.