Utility vehicles and pickups played a large part in driving up the average transaction price for a new vehicle to $35,635 in May, a 3.4% increase over the same time last year, according to Kelley Blue Book.
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Subcompact cars, compact cars, mid-size cars, and full-size cars all saw their wholesale values increase through the period between Feb. 1 and May 1. Respectively, these segments’ wholesale value rose by 2.6%, 5.3%, 3.1%, and 1%.
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Fiat Chrysler Automobiles will establish its own captive finance company by 2022 in a move that could involve the purchase of Chrysler Capital from Santander Consumer USA, the companies have confirmed.
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Fiat Chrysler Automobiles unveiled a wide-ranging plan to electrify 30 of its models by 2022 and launch several new vehicles, including a midsize pickup and three-row Jeep SUV, as the company enters a new phase of financial health.
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The loan amount for a new vehicle in the first quarter of 2018 was $31,445, $921 higher than the same period in 2017. In the used segment, the average loan amount for a vehicle was $19,536, $410 higher compared to the year-ago period.
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Retail leasing applicants registered a 70% approval rate on Swapalease during April, a 10% increase from the same time last year, the company announced.
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Manheim has grown its partnership with Carvana, allowing the online used car retailer to streamline its wholesale purchases and sales from Manheim, according to a company announcement.
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U.S. Bank has awarded ADESA Dallas with its Lease Return Segment Auction of the Year award, the bank has announced.
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The sporty car segment had a second strong week in a row, performing the best among all tracked vehicles. Through the week, sporty cars saw their values rise 0.27% compared to the week before.
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The National Auto Auction Association will begin raising awareness among its members about dealing with open recalls on vehicles that are sold at wholesale auctions under a new partnership with the National Safety Council.
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