For every vehicle that the auction group sells in 2018, it will donate a portion of the proceeds to the foundation. The auction group's goal is to raise $50,000 this year.
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More stringent guidelines may be coming to used car Buyers Guides, the document that dealers need to include in every used car they offer for sale, according to the Associated Press.
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Overall, car segment values decreased 0.34% last week, compared to 0.30% the week before. Truck segment values decreased 0.25% last week, the same decline the segment experienced the week before.
Read More →Toyota Financial Services USA has named Vipin Gupta as its new chief information officer and group vice president, the company has announced.
Read More →The escalating trade disputes between the U.S. and Europe may have an adverse effect on the used car market.
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Although new-vehicle sales are expected to contract in the coming months, the average price for those vehicles is expected to rise, thanks in part to the continued shift in demand toward larger vehicles.
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The strongest segments through June were subcompact and sporty sedans. These segments both saw their values increase by over 1% through the month, at 1.4% and 1.2%, respectively.
Read More →Auto loan interest rates in June likely reached their highest level in nine years, Edmunds reported, a week after saying a strong economy is likely masking market factors bubbling just below the service that could start to slow down sales.
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Wholesale values continued to see little change last week, although demand for sporty cars appears to be dwindling as the average value of that segment has begun to drop.
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Wholesale vehicle prices for former fleet vehicles at auction increased 0.8% in May from April and have increased 6.8% from a year ago in a "seasonally strong" market, according to Tom Kontos, KAR Auction Services' chief economist.
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