Wholesale vehicle depreciation continued to accelerate last week, a trend that is expected to continue for the next few weeks, as seasonal patterns take hold, according to Black Book's July 8 Market Insights report.
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Black Book's latest Used Vehicle Retention Index for June (115) shows a 0.6% increase from May (114.4), which reflects an incremental improvement in used vehicle values.
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Dave Angelicchio died on July 7 after battling cancer for three years.
Read More →Following its separation from KAR Auction Services, Insurance Auto Auctions (IAA) has announced the members of its board of directors.
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The average transaction price for a light vehicle in the U.S. in June was $37,285.
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Lower depreciation among luxury cars helped decelerate overall car segment depreciation, while truck segment depreciation remained stable.
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KAR Auction Services has successfully completed its previously announced separation of Insurance Auto Auctions (IAA).
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Drew Shull has been appointed as VP of sales and client experience, an appointment which aims to help create new client relationships and foster PAR's existing customer base.
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The average age of light vehicles in operation in the U.S. has risen again this year to 11.8 years, according to new research from IHS Markit.
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The rebranding will extend the KAR family of companies' international name recognition and reputation to Continental Europe, the company stated.
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