Insurance Auto Auctions has taken steps to prepare its auctions for Hurricane Florence with lessons the company's leaders learned from last year's hurricanes, said John Kett, the company's chief executive and president.
Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
The first half of 2018 has been a strong year for used vehicle values, and growth in upstream remarketing is playing a helpful role.
The wholesale industry is in the early stages of a digital transformation that's boosting sales at ADESA, KAR Auction Services CEO Jim Hallett said earlier this month. Online sales have driven 7% in overall volume growth during the quarter, and have helped offset waning sales at physical auctions.
Subcompact cars, compact cars, mid-size cars, and full-size cars all saw their wholesale values increase through the period between Feb. 1 and May 1. Respectively, these segments’ wholesale value rose by 2.6%, 5.3%, 3.1%, and 1%.
Hertz Global Holdings’ monthly net per unit vehicle depreciation expense decreased 13% to $302 for its U.S. operations, during its first quarter of 2018.
Manufacturers may choose to absorb higher federal interest rates on new vehicles to keep prices from rising higher than they have been with heavier incentives, but this could have an adverse effect on residual values.
Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.
Hall of Fame quarterback, Bob Griese to keynote 2018 IARA Summer Roundtable.
SUV segments drove auction volume in March, according to J.D. Power’s April Used Car and Light Truck Guidelines Industry Update. Luxury compact utility volume was up 71.7% and large utility volume was up 27.8%.
Edmunds is forecasting 1,335,313 new vehicles sales through April, representing a 19% decline from March and a 6% decline from the same time last year.
Mercedes-Benz USA’s online portal — MbonDemand.com — will now feature vehicles from Sixt Rent-a-Car, a move that will allow franchised and independent dealers to source Sixt off-rental vehicles, according to a company announcement.
Faye Francy of Auto-ISAC and Andrea Amico of Jack Cooper Logistics led a discussion on the steps that could be taken to protect personal identifiable information stored inside the vehicles sent for remarketing.
Privacy4Cars, an app developed by Jack Cooper Logistics, aims to simplify the process of wiping data off of a vehicle to ensure personal data is kept secure.
The IARA and Auto-ISAC recently formed a partnership in order to share information on data privacy and cybersecurity with the remarketing industry. Here is a short look at the woman leading Auto-ISAC.