Analysts say a late start to the spring selling season could be to blame for a third consecutive monthly decline in Black Book’s Used Vehicle Retention Index.
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Overall car segment values decreased by 0.42% last week, compared to 0.43% the week before. Overall truck segment values decreased 0.38% last week, compared to 0.40% the week prior.
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The recipients of the recognition were David Vignes, KAR Auction Services president of remarketing services, and Kenny Jones, Cox Automotive Safety and Environmental senior director.
Read More →The new general managers will assume their roles at ADESA auctions in Las Vegas, Birmingham, Little Rock, Orlando, and Tulsa.
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ADESA has launched VirtuaLane auctions, a live in-lane auction virtual marketplace for customers at 20 of its physical auction locations.
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Wholesale luxury car and compact van values declined during a week where overall depreciation remained fairly stable.
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Average monthly payments for new-vehicle purchases ($530), new-vehicle leases ($430), and used vehicles ($381) all reached new highs, growing by 4% to 6% year-over-year. Auto loans now account for a full 8% of all outstanding consumer debt — up from 6% just a decade ago.
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The Virginia Auto Dealers Association has named Manheim Express a partner program. Directors said the mobile app will help VADA’s approximately 450 dealer members gain wholesale efficiencies and make more money.
Read More →Non-prime lending firm United Auto Credit named Missouri Auto Auction its 2018 Auction of the Year.
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The industry will sell approximately 1.27 million new cars and trucks in February, representing a 2.2% decrease from a year ago, according to an Edmunds forecast.
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