A lineup of new full-size commercial vans from Chrysler/Ram, Ford, and Mercedes-Benz will deliver significantly higher residual value that their counterparts from previous generations, according to ALG’s latest industry projection.
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ADESA, a business unit of KAR Auction Services, announced management changes at the company’s subsidiary, Recovery Database Network (RDN). Zach Hallowell has been promoted to president of the organization.
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Kay Hudson has been named chief operating officer for CARS Recon, Inc. She was previously senior vice president of operations.
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Wholesale used-vehicle prices in August averaged $9,592 -- down 1.6 percent compared to July, and down 0.4 percent relative to August 2013.
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Jeff Bennett has been named vice president of national account sales at Lynnway Auto Auction.
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The event broke attendance records, featured two Roundtable discussions, three keynote speakers, and a cruise of Lake Michigan overlooking the Chicago skyline.
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The new DealShield Purchase Guarantee from Cox Automotive allows customers to return a vehicle – for any reason, at any Manheim operating location, for up to 21 days – and receive a guaranteed 100-percent refund of the purchase price and buyer’s fees.
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Introduced to customers in May, the Enhanced Vehicle Imaging Suite is now at 20 of Manheim’s North American locations as part of Manheim’s InSight Electronic Condition Report.
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Carlson will report directly to Paul Lips, ADESA executive vice president of operations and finance.
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Overall depreciation for used vehicles from the past five model years improved slightly from July as the average value fell 1.3 percent in the month compared to 1.5 percent in July, according to Black Book's monthly report.
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