Carvana has opened a new vehicle inspection and perfection center in the Phoenix suburb of Tolleson, Ariz., according to a company announcement.
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Manheim has updated its vehicle valuation tool, the Manheim Market Report (MMR), to provide more detailed valuations of used vehicles to increase transparency and improve the remarketing process, the company announced.
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Black Book's June Used Vehicle Retention Index that measures wholesale values increased 0.7 to 113 from the May level. The index has declined 4.5% in the past 12 months.
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The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.
Read More →IronPlanet will run its end-of-quarter events from June 27 to 30, featuring an All-Humvee Auction and three equipment sales on the IronPlanet and GovPlanet websites.
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Wholesale auctions sold 9.8 million vehicles worth $100 billion in 2016 with the majority coming from dealer consignment, according to the National Auto Auction Association (NAAA). The association has been surveying its members for 20 years.
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Carvana has expanded its business of vehicle vending machines into Oklahoma City, which is the company's 30th market in the U.S., Carvana has announced.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
Read More →Wholesale values for used vehicles reach a record-high of 127.9, while new vehicle sales dropped 2% compared to last year.
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