The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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Tony Markese will lead Manheim's strategic direction for its reconditioning services as its new VP of reconditioning.
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U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.
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Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
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New-vehicle prices are currently at record highs and the high prices are shifting sales away from new-vehicles and toward certified pre-owned vehicles.
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Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
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The lull that the wholesale market experienced through January and February was upended in March, as the industry saw the traditional spring bounce in values, according to the most recent Manheim Index report.
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Following a lower-than-expected February, Cox Automotive is forecasting March U.S. auto sales volume to hit 1.547 million, an increase from last month, but a nearly 7% decline from March 2018.
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The 2019 Conference of Automotive Remarketing is less than two weeks away, and this year, the annual conference will feature a panel discussion led by managers of some of the leading commercial fleet leasing companies.
Read More →The recipients of the recognition were David Vignes, KAR Auction Services president of remarketing services, and Kenny Jones, Cox Automotive Safety and Environmental senior director.
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