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Given how the COVID-19 pandemic has evolved, the company has extended its Simulcast-only sales past its original April 3 end date.
Wholesale used vehicle prices increased 1.35% month-over-month in February, bringing the Manheim Used Vehicle Value Index to 143.5, which is 6.2% higher than it was at the same time in 2019.
Manheim has updated its Manheim.com website with a new look and faster access to favorite tools, new standards for vehicle information across channels, and an enhanced Simulcast experience.
Retail sales have been trending downward in recent years and that trend is expected to continue as the industry’s supply of gently-used off-lease vehicles continues to grow.
Manheim has promoted Joe Kichler to vice president of Manheim Logistics.
Dealers who purchase a vehicle on Manheim Express are now able to order Ready Logistics’ transportation services directly through the app.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.
The estimated seasonally adjusted annualized rate of U.S. new vehicle sales continues to hover around the 17 million-unit mark after several major manufacturers enjoyed year-over-year improvements in November.
Cox Automotive has appointed Scott Maybee as president of NextGear Capital.
Certified pre-owned vehicles have been strong this year. If the segment's current pace continues it should be able to beat out last year's record sales year.