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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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Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
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GM Financial reported $202 million in net income in the first quarter of 2017, a 23% increase over the same time last year, despite pressure on used-car values, the company has announced.
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Used vehicles increased 0.4% in value in April, as buyers boosted the value of smaller cars, which have begun to shrug off several years of heavier declines, according to Black Book.
Read More →Donlen recently announced the recipients of its 2016 Top Auction Awards, according to a company announcement. Manheim Mississippi took home top honors as the recipient of the Auction of the Year award, however, seven other auctions also received awards.
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Ron Shoemaker, who founded Flexco Fleet Services, is moving out of his role as CEO to lead The Hourglass Foundation, which he co-founded with son Chad, who will step into the top role with the remarketing company.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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Ford and Nissan vehicles appeared most prominently among the vehicles chosen as having the best fleet value by Vincentric for the 2017 model year, the firm that analyzes total cost of ownership announced.
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Cox Automotive has named Jonathan Smoke as its new chief economist, according to a company announcement. In his new role, the company added, Smoke will be responsible for leading the creating of an economic industry insights office.
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A new report from Morgan Stanley warns that used-car values could fall by 25% to 50% in the next four to five years.
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