Executive vice president Chuck Tapp will replace the longtime remarketing industry executive who last year oversaw the merger of XLerate Group and America’s Auto Auction.
With the growth of EV models and charging networks, whose connector equipment should become the standard? Will there ever be a one-size-fits-all EV plug-and-port like the common fuel pump nozzle?
Declines in Manheim Market Report prices, days' supply, and average daily sales conversion rates are following typical patterns for November.
Days’ supply in October was 26% above year-ago levels. Used-vehicle inventory has been holding at about this level since mid-January.
The longtime family-owned auction group that spans four generations of the Wolfe family is shedding one operation to focus on its two others in Indiana.
Days’ supply climbed to 49, the highest since May 2021. The question now is: Will demand keep up with supply?
Higher rates are already shifting access to vehicles and financing towards wealthier consumers as overall affordability declines.
Rising interest rates are taking some potential buyers out of the market.
EV sales jumped by 68% year over year in Q, and for the first time, EV sales in the U.S. nearly equaled hybrid sales.
Most loan types saw loosening in October, but certified pre-owned loans loosened the most month over month and year over year.
The deal will diversify Ritchie Bros.' truck, construction, and farm equipment customer base by providing it with a larger presence in the vehicle remarketing vertical that has strong industry fundamentals with proven growth.
All eight major market segments saw seasonally adjusted prices that were lower year over year in October.
The consulting company will help the Tennessee-based auction operation reach a broader range of customers.
Some manufacturers may be shifting more of their sales to fleet as they see retail sales soften due to consumer economic concerns.
The supply issues plaguing automotive are ameliorating month over month, but to varying degrees depending on fleet type.
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