The International Automotive Remarketers Alliance (IARA) has announced that Felipe Smolka, executive vice president of transformation for LeasePlan USA, will be providing a keynote presentation at the 2018 IARA Summer Roundtable.
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June was an especially strong month for the used-vehicle market, resulting in J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index increasing 1.2 points from May to 118.2. Compared to a year ago, the index was up 4.1 points.
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The Manheim Marketplace achieved record growth across its digital channels in the first half of 2018, including double-digit growth in digital transactions, volume and sales as wholesale vehicle buyers and sellers continue to adopt a faster, more cost-effective way to move inventory.
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Volkswagen has gained approval from air regulators of the final modification plan for the remaining vehicles that contain software designed to defeat emissions tests, the California Air Resources Board has announced.
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Low depreciation among sporty cars and small sedans and SUVs helped maintain weekly wholesale values at stable levels last week, according to Black Book’s Market Insights for July 16.
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Kia Motors America sold 39,954 certified pre-owned vehicles through the first half of 2018, marking a record high for the company.
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Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
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Lease credit approvals on Swapalease’s marketplace took a small dip in June, falling to 68.4%, the company noted in an announcement.
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The Federal Trade Commission, working jointly with 12 partner agencies in seven states, conducted the first compliance sweep of car dealerships since its amended Used Car Rule took effect earlier this year, the regulator announced.
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Wholesale prices had been on the decline since April 2018, however, a strong showing in June bucked that trend and moved current wholesale price performance ahead of last year.
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