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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After four weeks of living below 0.37% depreciation, the truck segment reached its highest depreciation rate in February — and the second-highest this year — last week, according to Black Book’s Feb. 27 Market Insights report.
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Wholesale used vehicle prices in January averaged $10,945, a 6.7% year-over-year increase and 2.8% month-over-month rise, according to ADESA Analytical Services.
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Household debt rose by $226 billion to $12.58 trillion in the fourth quarter 2018, the highest quarterly increase since the fourth quarter 2013. It now sits just below its peak of $12.68 trillion in the third quarter 2008, according to the latest Quarterly Report on Household Debt and Credit from the Federal Reserve Bank of New York.
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The vehicle depreciation rate will reach 17.8% in 2017 on 17 million new-vehicle sales, slightly higher than the 17.3% mark recorded in 2016, according to latest forecast from Black Book and Fitch Ratings. Prior to the Great recession, annual depreciation trended between 16% and 18%.
Read More →New-vehicle sales are expected to be down 3% compared to the same time last year, for a total of 1.3 million retail and fleet vehicles sales during February, which lowers the estimated seasonally adjusted annual rate (SAAR) to 17.1 million compared to February 2016’s 17.6 million SAAR.
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Washingtonian, a D.C.-area magazine, has named Carfax a ‘Great Place to Work’ for the eighth time in a row, according to a Carfax announcement.
Read More →CarRecord will soon offer vehicle history reports in the U.S. market, the company has announced. Once it’s available in the U.S., it will provide customers with NADA Values from J.D. power Valuation Services.
Read More →A Georgia man charged with operating an odometer fraud scheme that revolved around buying later-model cars at auction, tampering with the odometer reading, and then selling the cars at inflated prices has plead guilty, according to the Department of Justice (DOJ).
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ADESA faced a “challenging” fourth quarter in 2016, CEO of KAR Auction Services Jim Hallet said during the company’s fourth quarter earnings call.
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KAR Auction Services will invest between $20 million and $25 million over the next three years to redesign and enhance its online sales platform in a project known as New Wave.
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