U.S. new-car dealers sold 17.33 million cars and light trucks in 2018, exceeding expectations due to a 2.2% year-over-year improvement in December.
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Black Book’s Used Vehicle Retention Index finished 2018 1.9% higher than in the same time in 2017.
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The National Auto Auction Association (NAAA) named ADESA Winnipeg Auto Auction as its 2018 Auto Auction of the Year for Excellence in Community Service.
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The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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Lake Charles Auto Auction recently reopened its 4,000 square-foot main office building after a $2 million renovation.
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The average transaction price for a new vehicle in the U.S. was $37,577 in December 2018, a 1.3% increase from the same time in 2017.
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All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
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Auto Auction Services Corp., which is also known as AutoIMS, has named Venkat Krishnamoorthy as its new chief executive, following the retirement of Mike Broe.
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CAR is a joint conference between Bobit Business Media, the National Auto Auction Association, and the International Automotive Remarketers Alliance.
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Roughly 124 dealers participated in the sale, with the majority participating through digital channels. Manheim offered 118 vehicles during the sale, and sold more than half.
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