Cox Automotive’s chief economist, Jonathan Smoke, said he didn’t expect the Fed’s latest move to match the impact of the July cut for auto manufacturers or dealers.
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The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
Read More →EchoPark doubled the amount of used vehicles it sold in the first quarter of 2019, signaling a growing demand for used vehicles.
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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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