Lease credit approvals reached 68.3% in August, a 14% increase from the previous month and an 11% increase from the same time last year, according to lease marketplace Swapalease.
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Wholesale used vehicles had their best weekly performance in two months, according to Black Book’s Sept. 11 Market Insights report.
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Manheim and ADESA reopened their Florida auction facilities on Tuesday, as Hurricane Irma moved north toward Tennessee.
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Five ADESA auctions remained closed Monday as Hurricane Irma moved through Georgia and Alabama, and two ADESA auctions in those states curtailed hours and staff, the KAR Auction Services unit announced.
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Wholesale used vehicle prices — on a mix-, mileage-, and seasonally adjusted basis — increased 0.75% month-over-month in August, bringing the Manheim Used Vehicle Value Index to a record high of 131.3.
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Greg Janik, president of the Automotive Fleet & Leasing Association (AFLA) from 1986-1987, passed away on Sept. 8. He was 74. Janik was a long-time member of AFLA and a strong supporter of the fleet industry.
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Through the first eight months of this year, a total of 11,308,631 new-vehicles have been sold, a 2.8% decline compared to the same time last year, according to Kelley Blue Book’s Monthly Light Vehicle Sales Report.
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Manheim has closed its Puerto Rico facility and will close four of its Florida auctions on Friday ahead of Hurricane Irma's expected landfall in Florida over the weekend, according to the company.
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Private equity investors The Carlyle Group have acquired United Road Services, a vehicle logistics company based in Romulus, Mich., from Charlesbank Capital Partners, the firm has announced.
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Car and truck segments saw lower overall depreciation rates last week, according to Black Book's Sept. 4 Market Insights report.
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