Used Retail Vehicle Sales Increase in March
The 1.66 million used vehicles sold at retail are up 11% year over year compared to March 2023 and the highest volume since March 2022.
The 1.66 million used vehicles sold at retail are up 11% year over year compared to March 2023 and the highest volume since March 2022.
Used-vehicle sales in the period were up more than 5% year over year, in line with spring fever and the tax refund season.
The Conference of Automotive Remarketing drew a professional crowd that networked for business and cultivated industry friendships.
This was the first time the Manheim Market Report index reading has been under 200 since March 2021, illustrating the outsized moves in the index over the last three years.
CAR 2024: The latest analysis from the National Auto Auction Association shows a stabilizing auction sector moving faster but still a long way from pre-pandemic years.
The arrangement will help the five-lane auction develop business and expand further into the national vehicle consignor market.
According to Vincentric, fleet costs per mile in all five vehicle categories accelerated higher in the first quarter of 2024 compared to the fourth quarter of 2023.
CAR 2024: Unlike a combustion engine, an EVs long-term value is maintained daily, based on the unique charging habits and battery management of its owner.
The 2024 Remarketer of the Year and Consignor of the Year bring resumes full of enterprise and experience.
A list of “R-words” captures the intent behind the alliance’s first new name and look since it was founded in 2001.
Fleet/lease sales were responsible for the increase in auction volume in the first quarter as dealer sales fell 5.4% YOY and fleet/lease sales rose nearly 29%.
The charity events included more than 2,000 classic, specialty, and exotic vehicles that raised $86,000 to provide recreational opportunities.
The average daily sales conversion rate increased to 62.5%, showing that demand improved relative to February.
The veteran leaders bring a combined 60 years of experience at Manheim and worked their way up through formative roles in auction operations.
The Automotive Remarketing Alliance recognized a disaster relief fund namesake for his charitable actions and the first-time recipient of a new industry honor, during the Conference of Automotive Remarketing.
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