The number of unsold new cars and light trucks at U.S. dealerships reached nearly 3.8 million at the start of August, a 71-day supply.
Manheim announced a new integration designed to make it easier for dealers to schedule transportation for vehicles they buy at wholesale. Manheim's buyers now have seamless access to Central Dispatch's digital shipping platform to directly list vehicles on Central Dispatch.
EchoPark doubled the amount of used vehicles it sold in the first quarter of 2019, signaling a growing demand for used vehicles.
John Fuller, founder of NextGear Capital, died Wednesday at age 75, the company announced. Fuller is known throughout the auto retail industry as an innovator in the floorplanning segment, having founded and sold Automotive Finance Corp. and Dealer Services Corp., the latter to Manheim.
Westlake Financial Services has selected America's Auto Auction Harrisburg as its auction of the year and named five auctions that were the top in their regions in 2018.
The Virginia Auto Dealers Association has named Manheim Express a partner program. Directors said the mobile app will help VADA’s approximately 450 dealer members gain wholesale efficiencies and make more money.
Manheim unveiled its updated Express mobile app at NADA 2019 that allows dealers to gain quick access to view, bid on, and purchase vehicles from inventory listed on Manheim's marketplace digital platform.
Cox Automotive's dealer technology unit vAuto has acquired iReconCars and relaunched the reconditioning management platform as iRecon to help dealers and other partners improve used vehicle reconditioning efficiency and speed, the company announced.
U.S. new-car dealers sold 17.33 million cars and light trucks in 2018, exceeding expectations due to a 2.2% year-over-year improvement in December.
Asset disposition solutions provider Remarketing by Element, a business unit of Element Fleet Management, has joined the National Independent Automobile Dealers Association's network of National Member Benefit partners.