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Used Vehicle Prices Climb Higher As Sales Pace Slows
The higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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SEARCHMENUSEARCHThe higher prices at used retail reflect strong wholesale values earlier in the spring, particularly for older, more affordable vehicles.
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Sarah Riggs Amico plans to take her boardroom strategy to Georgia’s Gold Dome and deliver the results that other politicians have merely promised.
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In a reversal from the new-vehicle trend of trucks overtaking cars in market share, auction volume from the 2015 to 2018 model years favored the car segment in January. Late-model car auction volume accounted for 54% of the auction volume in January while trucks accounted for 46%.
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KAR Auction Services ADESA unit is partnering with fleet management company Emkay to raise $267,000 over six years to support JDRF, which funds type 1 diabetes research.
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Five General Motors vehicles from the 2018 model year have the lowest cost to own in their categories over a five-year period, while four Toyota or Lexus vehicles also made an annual list from Kelley Blue Book.
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In 2017, 40% of vehicles sold at Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
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KAR Auction Services has named John Hammer as president of ADESA following a resignation of Stéphane St-Hilaire, who served as CEO and president of ADESA since 2014.
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Average wholesale prices for fleet lease vehicles were down 1.9% month-over-month, but up 0.4% year-over-year, according to Tom Kontos, KAR Auction Services' chief economist.
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An index that tracks wholesale used vehicle values fell in December for the first time in four months at a time when the used vehicle market typically shows some weakness. It also reinforced 2017 as a growth year for used vehicle sales.
Read More →United Kingdom-based Jardine Motors has signed a three-year deal with British Car Auctions (BCA) to remarket roughly 20,000 vehicles a year.
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Typical seasonal highs and lows were disrupted this year due to a run of natural disasters destroying hundreds of thousands of vehicles and causing a surge in replacement activity. Overall fleet depreciation improved this year.
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