A strong showing from the subcompact car segment drove up used vehicle values in July, bumping up the Black Book Used Vehicle Retention Index 0.5% to 113.9.
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Overall, car segment values decreased 0.22% last week, compared to 0.09% the week before. Overall, truck segment values decreased 0.15%, compared to 0.19% the week prior.
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Depreciation rates fell to two-month lows for both cars and trucks last week, propelled by strong performances from vans, pickups, and sporty cars.
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Manheim Express, a mobile app that allows dealers to list and sell inventory from their lots or in-lane, is now available nationwide after an eight-month pilot, according to a company announcement.
Read More →KAR Auction Services has joined the Mobility Open Blockchain Initiative (MOBI), a consortium of global automotive industry leaders exploring block chain technology’s potential use in the digital mobility ecosystem.
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A strong retail market has led to fewer no sales and continued stable wholesale prices, according to Black Book’s July 23 Market Insights report.
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June was an especially strong month for the used-vehicle market, resulting in J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index increasing 1.2 points from May to 118.2. Compared to a year ago, the index was up 4.1 points.
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Low depreciation among sporty cars and small sedans and SUVs helped maintain weekly wholesale values at stable levels last week, according to Black Book’s Market Insights for July 16.
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Overall, car segment values decreased 0.34% last week, compared to 0.30% the week before. Truck segment values decreased 0.25% last week, the same decline the segment experienced the week before.
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The strongest segments through June were subcompact and sporty sedans. These segments both saw their values increase by over 1% through the month, at 1.4% and 1.2%, respectively.
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