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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KASP Auto Auction has named Michele Pierog as vice president of national sales. Pierog, who has over 15 years of experience in the industry, most recently served as director of national sales at Auto Auction of New England.
Read More →RMS Automotive and vAuto have partnered to make it more convenient for dealers to evaluate and acquire manufacturers’ premium off-lease and off-program vehicles before they get to auction, according to a company announcement.
Read More →Online used vehicle marketplace Shift has raised $38 million in a series C round of funding led by BMW's venture capital business unit, iVentures. Other participants included DFJ, Highland Capital, G2VP, and Goldman Sachs Investment Partners.
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Hertz Global Holdings Inc. plans to report its second quarter 2017 financial results on Tuesday Aug. 8.
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The average monthly payment for a leased vehicle in July has remained essentially flat from the previous month when the average monthly payment was approximately $340, according to online lease deal marketplace Wantalease.com.
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Avis Budget Group Inc. plans to report its second quarter 2017 results after the market close on Monday Aug. 7.
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The average price of a used vehicle for model years 2012 to 2016 decreased in value 1.3%, slightly more than the 1.2% decrease in May, according to Black Book. The price of cars overall dropped 1.8%, while trucks decreased 0.8% in value in June. All vehicles are averaging a 12-month depreciation of 16.7%.
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Average wholesale prices in June were down vs. June but up vs. a year ago. A drill down into the data, however, reveals price softening on a year-over-year basis when accounting for sales type, vehicle age, model class, and mileage, KAR Chief Economist Tom Kontos said today.
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Manheim's mobile sales have grown 52% in the past year from online auctions hosted at 47 locations around the country, Manheim announced.
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Manheim will open six smaller auctions in areas the company views as "underserved markets," including Alabama, Georgia, Illinois, North Carolina, West Texas, and Utah, Manheim has announced.
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