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Most Recalled Used Cars Identified
The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.
The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.
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.
The 2018 Conference of Automotive Remarketing (CAR) detailed the biggest topics concerning wholesale remarketing, and also elaborated on technological developments that may impact the industry as a whole. Read the full story here. Photos by Andy Lundin.
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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.
Wholesale depreciation inched upward last week, as mid-size cars and luxury vehicles continue to see their prices at auction fall, according to Black Book’s June 11 Market Insights report.
The structure stands eight stories tall and holds 30 vehicles, similar to other Carvana vending machines. This marks the 11th vending machine nationwide and the third vending machine in Florida for Carvana.
