News
Used EVs Strengthen Overall Electric Vehicle Market
The latest sales data point to several reasons for the divergent trends in new and used EVs that can factor into fleet cycling decisions.
Read More →The latest sales data point to several reasons for the divergent trends in new and used EVs that can factor into fleet cycling decisions.
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Jay Cadigan will retire from Manheim, capping a 40-year career in the remarketing industry that included stints at auctions, as well as leasing companies and rental car operators.
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Avis Budget Group has reported revenue of $2.2 billion for its second quarter 2017, unchanged compared to Q2 2016. This is primarily due to an increase in overall rental days being offset by a decrease in pricing.
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Jumpstart Automotive Media today released its monthly share of shopper interest data. The report reveals that subcompact SUVs and CUVs saw a 37% increase in interest across Jumpstart’s portfolio of sites in the first half of 2017 (H1 2017) when compared to the first half of 2016 (H2 2016).
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The streak continued in July, with the Manheim Used Vehicle Value Index recording its third consecutive record in July. Driven by the 0.75% month-over-month increase in wholesale used-vehicle prices, the index rose 2.6% from a year ago to 130.1, according to the firm.
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Retail used car sales are up 4.3% year-to-date, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights.
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Carvana continues its nationwide expansion this week with the launch of its next-day vehicle delivery service in Phoenix, according to a company announcement.
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Manheim has acquired Pacto São Paulo and is developing commercial partnerships with six other auction companies to invest in in Brazil.
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After several weeks of relatively stable average wholesale values, the car segment realized a sharp decline in wholesale values last week, according to Black Book’s July 31 Market Insights report.
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Black Book's Used Vehicle Retention Index for July remains unchanged from June at a value of 113. The index has now moved positive or unchanged in three of the last four months.
Read More →About 68.8% of the people that applied for leases in June were approved, a 20% improvement over the month before, according to car lease marketplace Swapalease.com.
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