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Insurance Auto Auctions has taken steps to prepare its auctions for Hurricane Florence with lessons the company's leaders learned from last year's hurricanes, said John Kett, the company's chief executive and president.
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ACV Auctions Inc. is on pace to sell over 100,000 vehicles by the end of 2018, after selling 8,600 vehicles in August, according to the company.
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Manheim noted that this increase in wholesale price is an abnormal for this time of year, as higher depreciation is normally expected toward the end of summer.
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Ryan Rickey will serve as general manager for XLerate’s Your Auction in Florida, while Michael Schuler will assume that position at Pennsylvania's Corry Auto Dealer Exchange.
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Shift currently operates in California and is the largest used car retailer in San Francisco. By year end, the company expects to sell approximately 8,000 used vehicles.
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Residual values for three-year-old vehicles are flattening as a result of a record level of volume in the second quarter of 2018.
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Values for nearly all car segments that Black Book track were up; subcompacts were up 0.14%, compacts were up 0.33%, mid-size were up 0.06%, full-size were up 0.02%, sporty were up 0.34%, and premium sporty were up 0.11%.
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