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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PARS has hired Julie Allen as a regional sales manager for the Southeast region, the vehicle logistics company has announced.
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Manheim has named Nick Peluso as the president of Manheim Digital Marketplace, according to a company announcement. Peluso, who will also continue to serve as president of RMS Automotive, will report directly to Grace Huang, senior vice president of Inventory Services for Manheim.
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During a quarter where new-vehicle sales slipped, used-vehicle sales grew for Asbury Automotive, one of the six largest publicly traded dealer groups. However, while more used vehicles were sold, less gross profit was generated, and off-lease vehicles are partly to blame.
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Black Book looked at some popular trucks over the years and analyzed their valuations at recent collectible auctions:
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Kelly Blue Book expects 1.43 million new vehicles will be sold in July, which is 6% less than the same time last year. The forecast would put the seasonally adjusted annual rate at 16.7 million for the fifth month in a row with a new-vehicle SAAR below 17 million.
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The subcompact luxury crossover segment saw the highest depreciation among all segments last week, after several weeks of low depreciation, according to Black Book’s July 24 Market Insights report.
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Insurance Auto Auctions (IAA) has introduced its Active Inventory Management software that's designed to streamline the management of salvage vehicle auctions, according the the KAR Auction Services unit.
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Bruce Beam has returned to the post of general manager of Dealers Auto Auction of Oklahoma City (DAA/OKC), according to a company announcement.
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June was an average month in terms of wholesale prices, according to J.D. Power Valuation Services. It reported this week that wholesale prices of used vehicle up to eight years in age fell 2.2%, which in line with the 2.2% average losses recorded over the past five years.
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Through the first half of this year, 2.1 million vehicles have been leased, a 4.4% decline from a year ago and the first time in four years that leasing has seen a year-over-year decline, according to the latest Edmunds Lease Market Report.
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