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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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According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
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The International Automotive Remarketers Alliance (IARA) will host a webinar on May 22, 2020 titled “Opportunities Discovered," which will focus on the current actions of mega dealer groups and expected buying patterns in the near future.
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The Automotive Fleet & Leasing Association (AFLA Canada) held a webinar on Thursday, May 7, 2020 on the Canadian fleet market titled "The Impact of the Recent Economic Downturn on Vehicle Depreciation: What Fleets Need to Know.”
Read More →The International Automotive Remarketers Alliance (IARA) will host three webinars designed to support the vehicle remarketing industry, with the first one scheduled for Friday, May 8, 2020.
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To support social distancing measures related to COVID-19, customers can search through an extensive online inventory, speak with an expert via phone or email, and schedule a safe delivery or pick-up.
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Manheim is providing discounts and waiving fees for its online services to support customers and clients whose businesses are impacted by closures as a result of the COVID-19 pandemic.
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Now in the midst of the coronavirus crisis, pressure on residual values is predicted to increase lender’s credit losses as vehicle sales slow and unemployment rises. Now is the time for some creative online solutions.
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KAR Global is halting physical sale operations across North America at all ADESA locations, and includes Simulcast-only sales for at least the next two weeks.
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Wholesale used vehicle prices increased 1.35% month-over-month in February, bringing the Manheim Used Vehicle Value Index to 143.5, which is 6.2% higher than it was at the same time in 2019.
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KAR Global is immediately transitioning to Simulcast-only sales at all U.S. and Canada ADESA auction locations until further notice as the coronavirus pandemic continues to evolve, according to KAR Auction Services.
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