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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Sub-compact cars faced the heaviest depreciation between the months of May and August, declining 7.4%. This was followed by compact vans, and Luxury Cars, which depreciated by 6.6% and 6.1%, respectively.
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ADESA has named Steve Swanson general manager in Colorado Springs, Colo., Rich Levene general manager in Austin, Texas, and Cindy Kuhn as regional online manager.
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Manheim is supporting National Auto Auction Week via social media to increase awareness of the industry’s contributions to the national economy and local communities.
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Manheim has named Denis Nazarenkov gm of Manheim San Diego, and he will focus on enhancing the client experience.
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The average wholesale used price in July was $10,362, a 2% decline from June but a 4.9% increase from year-ago period, according to ADESA Analytical Services.
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Used vehicles from the 2011 to 2015 model years depreciated 1.5% in July, a slight improvement over June's 1.7% depreciation rate, reports Black Book.
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Car segments showed some of the heaviest depreciation of the year entering August with an overall depreciation of 0.62% last week, while values of compact van and sub-compact SUVs of the truck segment declined the most by 1.36% and 1.12% respectively.
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ADESA has named the GMs for ADESA Orlando and ADESA Los Angeles, in addition to making other management changes. Theo Jelks will lead ADESA Orlando as GM, and Vic Yancon has been promoted to GM at ADESA Los Angeles.
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Car segments depreciated at nearly double the percentage of trucks this past week, with overall car values decreasing 0.47% during the week of July 25. This is similar to the average depreciation rate of 0.46% of the previous four weeks.
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Wholesale used vehicle prices increased in July despite expectations that wholesale prices would suffer in 2016 due to growing wholesale supplies.
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