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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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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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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Wholesale values in August experienced the biggest increase since 2011, as Black Book’s Used Vehicle Retention Index was up 1.4% month-over-month.
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Compact and mid-size cars claimed the top two spots in terms of best-performing segments for the week as values for the two segments were up 0.17% and 0.24%, respectively.
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The program is available to dealers at all 60 ADESA physical locations in the U.S., as well as to those using ADESA’s online and simulcast auction platforms DealerBlock and LiveBlock, the company noted.
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The used-vehicle market has performed exceptionally well so far in 2018, with J.D. Power Valuation Services’ Adjusted Used Vehicle Price Index reaching 119.3 through July. That’s 4.7 percentage points above year-ago levels and 4.8 points above January’s reading.
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The best-performing segment among cars was the full-size car segment. Among trucks, the best-performing segment was the small pickup segment, which was up 0.40% week-over-week.
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The three key initiatives of the investment were a permeable paving system, a water reclamation center, and site security upgrades.
Read More →ServNet Auctions saw tax season come early this year, as 2018 sales volume so far has remained strong, according to a mid-year update from Eric Autenrieth, president of ServNet.
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