Overall car segment values declined 0.71% last week, compared to 0.74% the week before.The highest depreciation within the car segment came from subcompact cars, midsize cars, and near luxury cars.
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Manheim unveiled its updated Express mobile app at NADA 2019 that allows dealers to gain quick access to view, bid on, and purchase vehicles from inventory listed on Manheim's marketplace digital platform.
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The average prices for used fleet vehicles sold at auction increased 6.2% to $12,464 in 2018, despite a weaker finish to the year that saw a 0.4% decline in December, according to Tom Kontos, KAR Auction Services' chief economist.
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Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
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Eblock, a fast-growing online auction in Canada, will begin operating in the U.S. from a head office in Burlington, Vt., the company announced.
Read More →PAR North America has hired Stacey White to lead its remarketing services division as senior vice president. This appointment aims to further develop and expand PAR’s remarketing products for its customers, according to Lisa Scott, North American president.
Read More →Vehicle relocation service Auto Driveaway, which serves large corporate fleets, has acquired the assets of heavy truck transport service J&J, which expands its scope in the heavy truck transportation market.
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Used vehicle values continued to decline at the start of the new year, pushing sales rates at auction up, but moving prices down.
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Cox Automotive's dealer technology unit vAuto has acquired iReconCars and relaunched the reconditioning management platform as iRecon to help dealers and other partners improve used vehicle reconditioning efficiency and speed, the company announced.
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Vehicle manufacturers will sell 17 million new vehicles in 2019, which would represent only a 1.3% decline from a year that recorded a third consecutive year of more than 17 million new vehicles sold, according to Oliver Strauss, chief economist for TrueCar’s ALG.
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