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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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Privacy4Cars and AutoIMS are providing visibility to consignors and auctions on the removal of non-public personal information previous owners and drivers may have left in consigned vehicles’ on-board systems, including previous destinations, home address, garage door codes, contact lists, call logs, text messages, device identifiers, and more.
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Wholesale used vehicle prices increased 8.95% month over month in June, bringing the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index.
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The International Automotive Remarketing Alliance (IARA) has opened registration for its 2020 IARA Virtual Summer Roundtable and revealed the agenda, which will be hosted virtually on Aug. 20, 2020.
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The industry quickly turned to online services when the pandemic hit, utilizing digital-only sales, which ultimately kept the industry from halting completely.
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The International Automotive Remarketing Alliance (IARA) has announced that it will be transitioning its 2020 IARA Summer Roundtable Conference to be the 2020 IARA Virtual Summer Roundtable.
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Topics mentioned includes the state of the wholesale used-vehicle market; how an increase in employment will boost demand in the used-vehicle market; and sales activity at auctions starting to pick up.
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Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.
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The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
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The International Automotive Remarketers Alliance (IARA) will host its third webinar in its 2020 Road to Recovery series, titled “Adjusting to the New Normal,” on Friday, June 5, 2020.
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Today, Automotive Fleet is hosting its fifth webinar on the COVID-19 pandemic titled “Remarketing Strategies to Survive the COVID-19 Pandemic."
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