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The average transaction price for a new light vehicle in the U.S. was $37,590 in September, a 0.6% year-over-year increase, according to Kelley Blue Book.
Used fleet vehicles that sold at wholesale fell 1.5% to $13,603 in August from July, but remained up 1.2% when compared to the same month a year ago, according to Tom Kontos, chief economist for KAR Auction Services.
Eddie Lafferty will serve as general manager at Manheim Seattle and Danny Brawn will serve in the same role at Manheim Nevada.
KAR Auction Services Inc. has rebranded and will begin doing business as KAR Global, the company announced.
The sale ran more than 900 vehicles — about 80 of them were exotics and classics — and saw a nearly 70% conversion rate.
KBB stated that OEMs, dealers, website publishers, and auto industry product developers can reach out to the company in order to begin the process of incorporating its five-year TCO data onto their websites.
Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
Consignment and sales from the acquired facility will be merged into existing operations at Indiana Auto Auction, according to Eric Autenrieth, who leads the auction group.
Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
Cox Automotive’s chief economist, Jonathan Smoke, said he didn’t expect the Fed’s latest move to match the impact of the July cut for auto manufacturers or dealers.