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There are presently 52 million vehicles with open recalls on the nation’s roadways, a significant decline from the 63 million in 2017 and the 57 million in 2018, according to the latest annual findings from Carfax.
Manheim cut the ribbon on a new, 80,000-square-foot body shop and reconditioning center at the auction provider’s Orlando, Fla., center Tuesday. The new facility is the product of a nearly $5 million investment in Manheim’s second largest wholesale location.
Black Book analysts forecast an annual depreciation rate of 15% in 2019 as the supply of used cars and trucks increases, up from a "noticeably strong" 12.4% depreciation rate in 2018.
Insurance Auto Auctions, Inc. has opened IAA Lexington, its fourth location in South Carolina, in order to accommodate its newly expanded customer volume needs.
Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
The annual percentage rate on new financed vehicles is expected to average 6.36% in March, compared to 5.66% last year and 4.44% five years ago, according to the latest report from Edmunds.
Valuation and forecast solutions provider Black Book’s Used Vehicle Retention Index registered 113.8 for March, a 0.6% decline from February (114.5) but a 1.7% improvement from March 2018 (112.0).
Truck and car values both saw a bump last week, as the spring market continues to lift overall values, according to Black Book's April 8 Market Insights report.
The lull that the wholesale market experienced through January and February was upended in March, as the industry saw the traditional spring bounce in values, according to the most recent Manheim Index report.
The website iSeeCars compiled a list of top 10 vehicles with the highest rate of entering the used market one year after being purchased as new. Of those top 10, eight were luxury vehicles.