Digital disruptor Carvana was the nation’s eighth-largest seller of pre-owned vehicles in 2018, according to the latest Automotive News rankings of the Top 100 Used Retailers.
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Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
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A significant part of the automotive value chain, Enterprise’s operations result in over 1 million used vehicles that become available for sale every year.
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Wholesale values for the entire sedan segment dropped after appreciating for the previous three weeks.
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Overall values for car segments that Black Book tracks were up marginally on average, however, a majority of the individual segments reported lower values.
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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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Kia Motors America sold 39,954 certified pre-owned vehicles through the first half of 2018, marking a record high for the company.
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The Federal Trade Commission, working jointly with 12 partner agencies in seven states, conducted the first compliance sweep of car dealerships since its amended Used Car Rule took effect earlier this year, the regulator announced.
Read More →The escalating trade disputes between the U.S. and Europe may have an adverse effect on the used car market.
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The wholesale industry is in the early stages of a digital transformation that's boosting sales at ADESA, KAR Auction Services CEO Jim Hallett said earlier this month. Online sales have driven 7% in overall volume growth during the quarter, and have helped offset waning sales at physical auctions.
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