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Used Vehicles Accounting for Larger Share of Auto Finance Market
Used financing increased 2.4% year-over-year and reached 55.15% in the third quarter of 2019.
Used financing increased 2.4% year-over-year and reached 55.15% in the third quarter of 2019.
This investment round brings Vroom’s total capital raised to $721 million.
The valuation analysts at Kelley Blue Book reported the estimated average transaction price for a light vehicle in the United States was $38,393 in November.
The estimated seasonally adjusted annualized rate of U.S. new vehicle sales continues to hover around the 17 million-unit mark after several major manufacturers enjoyed year-over-year improvements in November.
Several manufacturers offered attractive discounts and competitive pricing on compact cars and SUVs, while most luxury and full-size vehicle brands maintained their lease prices.
Black Book found that gains among sporty cars (0.43%), compact cars (0.34%), and midsize cars (0.22%) kept retained values essentially flat compared with September (115.9), even as several truck categories showed losses.
ADESA UK won the IT Innovation Award at the 2019 GreenFleet Awards for its Intelligent Vehicle Inspection solution.
Millard H. “Skip” Wolfgang III, co-owner of Pennsylvania Auto Dealers' Exchange, died Nov.1 at his home in Virginia. He was 72.
Recovery Database Network and Clearplan — two business units of Kar Global — have made enhancements to their respective platforms.
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.
View more photosManheim has created a new role, vice president of Industry Partnerships, and has appointed Julie Picard to it.
Honda received the company’s top spot for the mainstream brand category and Land Rover earned the stop for the luxury brand category.
The new capital will allow ACV Auctions to further its investment in technology and data driven solutions that will help dealerships source and sell used vehicles.
Vincentric has announced the winners of its 7th annual Best Certified Pre-Owned Value in America Awards and Ford, Subaru, and Lexus were some of the key winners.
