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The amount of vehicles in auction that are 5 years old or newer increased 0.3% year-over-year in June, according to J.D. Power's July 2019 Used Car and Light Truck Guidelines.
Swapalease credit approvals registered 65% entering July, a drop from the 72.4% approval rate registered in May, the company announced.
Several thousand vehicles that were flooded and damaged during tropical storm Barry may reappear for sale across the country in the coming months, warns the National Insurance Crime Bureau.
The average value of used fleet vehicles increased 1.5% to $13,758 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.
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 used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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.