New Vehicle Inventory Drops, But Availability Steadies
Despite lower production, there are more vehicles ready to be sold due to sales losing momentum since June.
Despite lower production, there are more vehicles ready to be sold due to sales losing momentum since June.
But sales are declining as car shoppers face limited inventory, high prices and historically low incentives.
The profit index sets another record high, while the price pressure index increased modestly.
CPO sales are up 12% versus the same time in 2020 and are marginally above the same period in 2019 when a record-high 1,900,589 units were sold.
The regional acquisition expands the independent auction group's fixed site and mobile sales portfolio.
The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
August figures show sales into rental increased 118% year over year in August and are up 7% compared to the same time period last year.
A solution from Tractable accelerates any process in which inspecting a vehicle’s condition is required, from purchasing or selling, returning a rental or lease, to recycling parts at end-of-life.
The automotive remarketing sector is seeing big changes due to an increased use of technology, evolving vehicle mix and shifting expectations from buyers and sellers.
The third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
In its 20th anniversary year, the International Automotive Remarketers Alliance showcased some of its most accomplished industry professionals.
A recent quarterly report from Haig Partners shows that buy-sell activity among auto dealerships has exploded, leading to "empty lots and overstuffed wallets."
Second quarter numbers show emerging competition for buyer choices as more models enter the market.
KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
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