ServNet Adds New Members to Governing Board
Three regional auction owners have been recruited to handle leadership duties at the independent auction group.
Three regional auction owners have been recruited to handle leadership duties at the independent auction group.
The sales manager brings dealership and automotive experience to the full-service auction operation.
Vehicle shoppers now have a much better chance of finding something that fits their needs as improved supply relieves pent-up demand.
A widespread auction data report points to the key question of: will the overall upside market last?
Next Inspect helps automakers, captive lenders, and fleet owners capture more accurate vehicle conditions to inform buying decisions.
Twice as many vehicle shoppers considered hybrids instead of an EV and eight of 10 top selling electrified vehicles last quarter were hybrids.
The International Automotive Remarketers Alliance selected an experienced executive in the wholesale automotive industry to lead operations of the trade group.
Mid-Month Update: The Manheim Used Vehicle Value Index was down 7% compared to the full month of May 2022.
Finding the right product at the right price is more challenging for used vehicle buyers today, amid higher interest rates and recession fears.
The company recently auctioned off items for a charity dedicated to the legacy of the daughter of a former account manager.
The average price likely will stay relatively high since few new vehicles were sold in recent years and little leasing was done.
Post-pandemic pent-up demand is moving into the automotive market. Strong sales growth into fleets strengthened April numbers.
For the second month in a row, average transaction prices undercut manufacturer's suggested retail prices, reversing a prior 20-month trend.
Major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory.
Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
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