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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Black Book will begin offering the monthly Used Vehicle Retention Index to measure the strength of used wholesale market values, the company has announced.
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The Mitsubishi Mirage topped a list of the most affordable cars for retail leasing under a methodology that relies heavily on depreciation as a driver of total leasing costs.
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ACV Auctions, a mobile auctioning platform, has secured $15 million in venture funding, according to a company announcement. The company will use this new round of funding to expand its business into new territories.
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The XLerate Group has acquired Corry Auto Dealers Exchange (CADE) from Merle Swift, which marks the group's entry into the Pennsylvania auction market, the company has announced. Terms were not disclosed.
Read More →The National Auto Auction Association awarded XLerate Group Auctions with the Warren Young Scholastic Foundation award that signifies the auction group’s participation in the NAAA’s Auction Safety Certification and Lane Safety training program.
Read More →Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, has announced that it will be expanding into the Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania, and Oregon markets.
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Two- to six-year old vehicles depreciated 0.8% in February, with trucks and vans showing relative strength, while luxury and sporty cars again fell hardest, especially when compared to year-ago values, according to Black Book.
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Rental risk units were up from a year ago due to mix shifts and mileage changes as well as a weakness in the used vehicle market last year, according to Manheim. The Manheim Used Vehicle Value Index stood at 124.6 for February.
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Manheim has opened its first auction in Arkansas with Manheim Little Rock, and will hold weekly sales. The company's expansion into Arkansas was driven by dealer demand in an under-served area in the U.S., the company said.
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CAR was highlighted by discussions addressing trends that will affect the future of the remarketing industry. The conference was held March 1 to 2 at the Paris hotel in Las Vegas and was held in partnership with the International Automotive Remarketers Alliance (IARA) and the National Auto Auction Association (NAAA). Photos by Steve Reed and Andy Lundin.
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