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Cox Automotive is forecasting 1.38 million U.S. auto sales in July, which would represent a 0.5% increase from the same time last year.
Prompted by a severe shortage of auto technicians nationwide and fast-growing need by clients for the company’s reconditioning services, Manheim has launched its own apprentice program, the company announced.
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.
Tony Markese will lead Manheim's strategic direction for its reconditioning services as its new VP of reconditioning.
Manheim made its first digital sale a little over 20 years ago. Over the past 20 years, the company's digital sales have grown from fewer than 100 annual digital sales to over 600,000.
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.
Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
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.
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.
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.