Used truck prices are holding steady, with supply still dictating pricing. That’s the word from J.D. Power’s Commercial Truck Guidelines for March, which notes that February is the first month in any new year with a high enough volume of used truck auctions to allow analysts to identify market trends.
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Even with the decline in February, however, overall late-model volume in the month was still 5.8% higher than in February 2017 due to volume growth in previous months.
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KAR Auction Services will be presenting at the Bank of America Merrill Lynch 2018 Auto Summit later this month, according to the company.
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Users will now have access to KBB vehicle valuations when assessing the value of their trade-in through the AutoGravity platform.
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Wholesale used vehicle prices were flat in February, halting three months of declines, according to Manheim’s Used Vehicle Value Index.
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Manheim is launching Manheim Express, a mobile app for dealers that gives dealers a self-service method of listing and selling inventory through the Manheim marketplace, according to a company announcement.
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The average price of two- to seven-year-old vehicles depreciated less sharply than expected in February due to "a spirited start to the spring selling season" that has boosted prices for used passenger cars, according to Black Book.
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For the sixth week in a row, the car segment has realized lower depreciation than the truck segment, according to Black Book’s March 12 Market Insights report.
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Carvana recently reported its financials for the first quarter of 2018 and full-year 2017, and its performance shows that more buyers are opting for an online experience to purchase their used cars.
Read More →Salvage auction specialist Copart has acquired Autovahinkokeskus Oy, a salvage auto auction company based in Finland, the company announced.
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