Jumpstart Automotive Media today released its monthly share of shopper interest data. The report reveals that subcompact SUVs and CUVs saw a 37% increase in interest across Jumpstart’s portfolio of sites in the first half of 2017 (H1 2017) when compared to the first half of 2016 (H2 2016).
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The streak continued in July, with the Manheim Used Vehicle Value Index recording its third consecutive record in July. Driven by the 0.75% month-over-month increase in wholesale used-vehicle prices, the index rose 2.6% from a year ago to 130.1, according to the firm.
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Retail used car sales are up 4.3% year-to-date, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights.
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Carvana continues its nationwide expansion this week with the launch of its next-day vehicle delivery service in Phoenix, according to a company announcement.
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After several weeks of relatively stable average wholesale values, the car segment realized a sharp decline in wholesale values last week, according to Black Book’s July 31 Market Insights report.
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Black Book's Used Vehicle Retention Index for July remains unchanged from June at a value of 113. The index has now moved positive or unchanged in three of the last four months.
Read More →About 68.8% of the people that applied for leases in June were approved, a 20% improvement over the month before, according to car lease marketplace Swapalease.com.
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Manheim has named Nick Peluso as the president of Manheim Digital Marketplace, according to a company announcement. Peluso, who will also continue to serve as president of RMS Automotive, will report directly to Grace Huang, senior vice president of Inventory Services for Manheim.
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During a quarter where new-vehicle sales slipped, used-vehicle sales grew for Asbury Automotive, one of the six largest publicly traded dealer groups. However, while more used vehicles were sold, less gross profit was generated, and off-lease vehicles are partly to blame.
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Kelly Blue Book expects 1.43 million new vehicles will be sold in July, which is 6% less than the same time last year. The forecast would put the seasonally adjusted annual rate at 16.7 million for the fifth month in a row with a new-vehicle SAAR below 17 million.
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