The average wholesale value of cars and trucks saw little depreciation last week, as lane activity has increased as a result of the recent hurricanes, according to Black Book’s Sept. 25 Market Insights report.
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By analyzing 347,000 vehicle sales from a 30-day period of auction sales, AutoIMS found that the average total charge amount per vehicle during this period was $385.
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Franchise dealers now view the used car market more optimistically than the new vehicle market, according to a new sentiment index from Cox Automotive. The finding speaks to the current shift of car buyers with prime and subprime credit toward the used market.
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Continued consignment growth from insurance and non-insurance business contributed to a strong fourth quarter for Copart.
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The funding, provided by TRP Capital, will help the company expand retail locations that serve corporate fleet customers including fleet management companies.
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Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.
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In the car segment, luxury and sporty cars decreased the most in value last week, while mid-size vehicles showed a slight increase in value
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Manheim Wilmington is the fourth permanent Manheim location in North Carolina. Manheim built the two-lane facility through a partnership with D&C Mitsubishi.
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While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.
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Lease credit approvals reached 68.3% in August, a 14% increase from the previous month and an 11% increase from the same time last year, according to lease marketplace Swapalease.
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