Overall wholesale used-vehicle prices (on a mix-, mileage-, and seasonally-adjusted basis) improved 0.5% month-over-month in April. On a year-over-year basis in April, only pickups saw gains greater than the overall market.
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More than 100 auctioneers will compete in Manheim Pennsylvania Auto Auction's 2017 World Automobile Auctioneers Championship (WAAC) on May 12 during a one-day event to determine the best auctioneer, ringperson, and two-person team for $12,500 in prize money.
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Avis Budget Group has reported revenue of $1.8 billion for its first quarter 2017, a 2% decrease. This is primarily due to a 5% decline in pricing partially offset by a 3% increase in rental days.
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Vehicle manufacturers sold 12.2% fewer cars, trucks, vans, and SUVs to rental, commercial, and government fleet buyers in April compared to a year ago in what has become a softening market for new vehicle sales.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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Three people were killed and nine were injured as a result of a vehicle losing control during a sale at LynnWay Auto Auction in Billerica, Mass., the Chicago Tribune reported.
Read More →Full-size cars and compact vans continued to thrive, with wholesale values increasing by 0.46% and 0.39% respectively over the prior week period, according to Black Book’s May 1 Market Insights report.
Read More →A new co-listing capability being offered by RMS Automotive and Manheim is allowing open sale vehicles listed on manufacturers’ digital sales platforms powered by RMS Automotive to be simultaneously offered on Manheim.com and OVE, according to a company announcement.
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Wholesale market values remain healthy as overall car values continue to increase and truck values remain flat, according to Black Book’s April 25 Market Insights report.
Read More →New-vehicle sales in April are expected to fall 3% year over year to 1.45 million units, resulting in an estimated 17.1 million seasonally adjusted annual rate (SAAR), according to analysts at valuation and data provider Kelley Blue Book.
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