“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics for Black Book.
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Carvana has expanded its next-day delivery in the Southeast region by giving South Carolina car buyers in Columbia and Greenville access to next-day delivery, the company announced.
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GM Financial reported $202 million in net income in the first quarter of 2017, a 23% increase over the same time last year, despite pressure on used-car values, the company has announced.
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Carvana has raised the total number of markets it where it offers one-day delivery to 25 with its expansion into Chicago, according to a company announcement.
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Carvana has opened up its fourth car vending machine in Texas — and the fifth nationwide — in Frisco, Texas, according to a company announcement. The vending machine will stand eight stories tall, contain four delivery bays, and hold up to 30 cars.
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In March, prices were down 2.5% year-over-year for current and one-model-year-old units and down 2.6% for three-model-year-old units, according to ADESA. Overall, wholesale used prices were up 2% compared to February and up 1% year-over-year.
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Depreciation remains at some of the lowest levels seen all year, driven in part by the strength of entry level cars, according to Black Book’s April 10 Market Insights report.
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A new report from Morgan Stanley warns that used-car values could fall by 25% to 50% in the next four to five years.
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While wholesale used-vehicle prices declined by 0.5% in March, the Manheim Used Vehicle Value Index — a measure of wholesale prices adjusted for mix, mileage and season — came to a reading of 124.1. This is an increase of 1.3% from a year ago.
Read More →In January, all model classes showed month-over-month and year-over-year price gains — except full-size SUV/CUVs, according to ADESA. Overall, wholesale used vehicle prices were up 2.8% compared to December and up 6.7% year-over-year.
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