TradeRev has eliminated monthly subscription fees for U.S. car dealers, which will allow users to participate in as many one-hour vehicle auctions as they’d like, and only pay fees for completed transactions, the auction portal announced.
Read More →Copart, Inc. has opened its sixth location in Brazil, according to a company announcement. Its sixth location will be located in Betim, Minas Gerais and will offer a wide selection of salvage and used vehicles, the company noted.
Read More →Insurance Auto Auctions, Inc. has launched IAA Fast Search, a salvage vehicle search tool that will be available as a desktop and mobile tool.
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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 →America’s Auto Auction is continuing on its acquisition spree with the acquisition of two new auctions, including West Michigan Auto Auction and Interstate 94 Vehicle Auction.
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Used cars outperformed trucks in March, as full-size pickups, compact vans, compact cars, and sporty cars increased in value, while as overall used vehicles depreciated 0.6%, according to Black Book.
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Carvana, an online used-car retailer that’s best known for its “car vending machine,” has filed a registration statement with the U.S. Securities and Exchange Commission (SEC), paving the way for an initial public offering (IPO).
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eAutoAppraise, a provider of online trade-in valuation and credit prescreening services, said that with this move, it’s dealer partners would now have access to Black Book’s accurate vehicle valuation services.
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