A strong showing from the subcompact car segment drove up used vehicle values in July, bumping up the Black Book Used Vehicle Retention Index 0.5% to 113.9.
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Overall, car segment values decreased 0.22% last week, compared to 0.09% the week before. Overall, truck segment values decreased 0.15%, compared to 0.19% the week prior.
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Net income improved to $26 million and adjusted net income increased 84% to $46 million, or $0.57 per diluted share.
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For the second quarter 2018, total revenues were $2.4 billion, a 7% increase versus the second quarter 2017.
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Mike Groff will retire as president and chief executive of Toyota Financial Services (TFS) at the end of this month, and will give way to Mark Templin, who has been serving as chairman of the board of Toyota Motor Credit Corp., the captive finance company has announced.
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TradeRev is offering free vehicle transportation for dealers purchasing vehicles in qualifying states. TradeRev and CarsArrive Network are business units of KAR Auction Services Inc.
Read More →Edmund Field will act as president of the company, which offers extended service contract protection plans for pre-owned vehicles at independent used car dealerships and at small franchise retail automotive and power sport dealers.
Read More →The new 9,000-square-foot facility will sit atop 40-acres of land and marks the 11th IAA facility in Florida.
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Depreciation rates fell to two-month lows for both cars and trucks last week, propelled by strong performances from vans, pickups, and sporty cars.
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As an example of this analysis, Black Book data shows that the Toyota FJ Cruiser, whose last model-year was 2014, has actually gone up in value by 25.7% compared to other vehicles that were listed in its segment.
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