The new technology — Lot Vision — is a GPS-based wireless device placed in a vehicle's on-board diagnostics port. The tracking device can also be attached to a steering wheel in the event that a vehicle does not have an on-board diagnostic port.
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TradeRev will condense its auction time frame from the current one-hour auction and one-hour closing period to a 45-minute auction and 15-minute closing period beginning Feb. 5, 2019.
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Eblock, a fast-growing online auction in Canada, will begin operating in the U.S. from a head office in Burlington, Vt., the company announced.
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Wholesale values declined 0.3% for model years 2016-2017 and 0.2% for model years 2008-2015 in December.
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Black Book’s Used Vehicle Retention Index finished 2018 1.9% higher than in the same time in 2017.
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The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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The average transaction price for a new vehicle in the U.S. was $37,577 in December 2018, a 1.3% increase from the same time in 2017.
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All vehicle segments, except for large utility vehicles experienced a decline in auction volume through the month, the report added.
Read More →The average 12-month depreciation through the end of November for all vehicles was 12.5%.
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KAR Auction Services, Inc. has consolidated its management team for two of its businesses — Recovery Database Network (RDN) and Clearplan — in order to improve synergies for the complementary business units.
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