Wholesale used vehicle prices in December averaged $10,642, which was essentially flat from the month before but a 3.9% increase over the same period in 2015, according to ADESA. Truck prices were down 0.6% in December.
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A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.
Read More →Wholesale used-vehicle prices in October averaged $10,499, a decline from September but a 3% increase on a year-over-year basis.
Read More →KAR Auction Services has acquired Flint Auto Auction, a whole car auction facility in Flint, Mich., which will now operate as ADESA Flint.
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KAR Auction Services Inc. has announced the creation of new enterprise functions and leadership roles in product development, data analytics and strategy. The company has both promoted from within and recruited from outside sources to fill these new roles.
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ADESA has promoted Kevin Rhoads to general manager of ADESA Kansas City, effective immediately. The previous GM of ADESA Kansas City, Harold Chapman, now leads ADESA Nashville.
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ADESA has officially opened its new ADESA Chicago auto auction, a location that cost the company $40 million to develop, according to a company announcement.
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ADESA has named Harold Chapman as the new GM at ADESA Nashville, and he assumed the role effective immediately.
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Wholesale used-vehicle prices average $10,734 in September, which was flat with August but up 5.1% from a year ago, according to ADES Analytical Services.
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ADESA has appointed Michael Schenks, Ron Schritenthal, Dan Watt, and Rod Thompson.
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