While sales reached all-time highs, the oft-reported slowdown in the pace of growth is real as electric vehicles still remain too expensive for many average car buyers.
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The inspection technology closely combs a car’s exterior during the check-in and check-out process and generates a complete damage report within seconds.
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The leading consignors trade group and the producer of the annual Conference of Automotive Remarketing (CAR) align to bolster event offerings and better serve the remarketing industry.
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Manheim expects constrained growth with a volume increase of less than 1% in 2024, indicating a return to a more normal market.
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The end-of-year tallies show a healthy 28% annual increase across commercial, rental, and government fleet sectors.
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The product leverages artificial intelligence and computer vision technology to provide a virtual overlay of any exterior damage detected on a vehicle, making it easier to spot hail, paint peel, detached panels, broken lights, rust, scratches, dents and cracks.
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Wholesale supply ended November at 30 days, up one day from the end of October and flat year over year.
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While the used vehicle market is not fully back to normal, it shows signs of more stability and balance.
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The total U.S. supply of available unsold new vehicles in November climbed 57%, or 925,000 units, from the same time a year ago.
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The longtime automotive remarketing executive is credited with establishing a best-in-class risk management approach and accelerating the company’s digital transformation.
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