To increase dealer confidence in purchasing decisions within the wholesale used-vehicle marketplace, Manheim is introducing flat-rate pricing for automatic post-sale inspections, providing dealers a hassle-free way to reduce their risks and help ensure vehicles bought at auction are in the expected condition.
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The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.
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The trucks and vans that topped J.D. Power's lists for 2019 Resale Value awards include the GMC Sierra 3500, Toyota Tundra, Toyota Tacoma, and Honda Odyssey minivan, the firm announced.
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Swapalease.com, a car lease marketplace, reports car lease credit applicants registered a 69.1% approval rate in July, a rise from the June rate of 65%.
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Timothy Myrick, who recently worked in Tallahassee Auto Auction’s fleet/lease division, will assume the position.
Read More →Tim Janssen, the retired president of IFS (Innovative Funding Services LLC), passed away on Aug. 14 in Largo Vista, Texas. He was 55. Janssen founded IFS in 2007 and served as president of IFS for more than 12 years until his retirement in Jan. 1.
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The number of unsold new cars and light trucks at U.S. dealerships reached nearly 3.8 million at the start of August, a 71-day supply.
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Manheim is boosting investment in its Simulcast technology and will be add new features to the system, the company announced.
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The vending machine, which will stand eight stories high and hold 30 vehicles, will be located in the Westminster, Calif., a city roughly 30 miles south of Los Angeles.
Read More →The award was established in 2016 and recognizes the charitable acts that auctions perform in order to encourage greater volunteer involvement.
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