An index that tracks wholesale used vehicle values fell in December for the first time in four months at a time when the used vehicle market typically shows some weakness. It also reinforced 2017 as a growth year for used vehicle sales.
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The auto industry sold 17.2 million new vehicles in 2017, 1.8% less than in 2016, breaking a seven-year streak of year-over-year sales growth, according to data from Motor Intelligence.
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United Kingdom-based Jardine Motors has signed a three-year deal with British Car Auctions (BCA) to remarket roughly 20,000 vehicles a year.
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The average transaction price for a new vehicle reached $36,113 in December in the U.S., a 1.6% increase from the same time last year and a 0.2% increase from the previous month, according to Kelley Blue Book.
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The car segment saw the highest declines of the year during the last week of 2017, according to Black Book’s Jan. 1 Market Insights report.
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Carvana has added a fifth market in Texas by adding Corpus Christi to the list of cities it offers next-day delivery, bringing the number of markets that Carvana is in to 44.
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Copart expanded its Greenwell Springs, La., location to increase asset capacity in an area of the country that that is prone to hurricanes.
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New-vehicle sales for 2017 should reach 17.1 million, which would make 2017 the fourth-highest year on record and signals continuing robust health in the automotive industry, according to Kelley Blue Book.
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CAR's full agenda has been revealed, and its keynote speakers include ARI's COO, an Olympic gold medal winner, and Enterprise's senior VP of Fleet North America.
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As demand for vehicles continues to slow down at the end of 2017, the truck segment’s average wholesale value experienced its biggest decline of the year, according to Black Books Dec. 25 Market Insights report.
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