This wave of off-lease vehicles is expected to be one of the biggest threats that the new-vehicle industry will face this year and the next. And, it won’t just be the sheer volume of relatively new, low-mileage vehicles that will pose a risk to the new-industry; it’ll be the types of off-lease vehicles returning to market that will present the biggest hurdle.
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Jim Williams will succeed Patrick Brennan, who previously served in the position but was recently promoted to senior vice president of Inventory Solutions’ Marketplace.
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The used vehicle market should grow about 1% in 2018 bolstered by a federal tax cut and influx of utility vehicles, while new vehicle sales are expected to remain flat, according to Cox Automotive's senior economist.
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RMS Automotive received the award based on its RMS Automotive Inventory Management Solutions, which is a modular inventory management software that reduces risk and maximizes return on investment.
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The five independent auctions that will be joining include Big Valley Auto Auction, Corpus Christi Auto Auction, Greater Milwaukee Auto Auction, Houston Auto Auction, and San Antonio Auto Auction.
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The company will be leveraging its connection with Cox Automotive brands, along with companies in the inventory management, floor planning, reconditioning, and assurance and logistics industries to create the multi-channel marketplace, according to Manheim.
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Cox Automotive has named Patrick Brennan as senior vice president of inventory solutions, marketplace, the company announced. He will begin in his new role effective immediately.
Read More →RMS Automotive and Manheim have launched a new co-listing capability designed to give independent dealers access to open sale vehicles listed on RPM, the Nissan and Infiniti upstream digital sales platform powered by RMS Automotive.
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Cox Automotive has named Grace Huang as president of Cox Automotive Inventory Solutions, which includes brands such as Manheim, Ready Logistics and RMS Automotive, according a company announcement.
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Franchise dealers now view the used car market more optimistically than the new vehicle market, according to a new sentiment index from Cox Automotive. The finding speaks to the current shift of car buyers with prime and subprime credit toward the used market.
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