Revenues grew 2% to $2.1 billion in the fourth quarter and 3% for the full year to $9.1 billion.
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Bidding was strong ahead of presidents day, which helped truck and car used values improve slightly last week.
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The average sale price for used vehicles from fleet leasing consignors increased 1.9% to $12,706 in January from the prior month and 3.9% from January of 2018, according to Tom Kontos, KAR's chief economist.
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Three trucks and SUVs were listed as having the highest depreciation after a year in a recent report from iSeeCars.
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This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market.
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Subcompact crossovers, compact luxury crossovers/SUVs, and compact vans fell by 1.78%, 1.61%, and 1.55% last week, representing the highest depreciation among all vehicles.
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The Bank of America digital car shopping and financing platform will now add more than 15,000 Carvana vehicles to its existing inventory of both new and used vehicles.
Read More →The addition of the new location was motivated, in part, by the company's commitment to adding vehicle storage capacity in California, said Copart CEO Jay Adair.
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The two months of falling vehicle values may be an indicator of what depreciation might look like in 2019.
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Depreciation for cars grew slightly last week, but overall values are continuing to stabilize, according to Black Book's Feb. 4 Market Insights report.
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