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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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Used vehicles from fleet consignors in ADESA sales increased 2% in May to $14,043 and were 5.5% above a year ago, according to monthly commentary from Tom Kontos, chief economist for KAR Auction Services.
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Statistics covering vehicle remarketing in 2018. In this report, we cover a 20-year used vehicle value index, distribution of auction sales, retail lease penetration rate, wholesale used-vehicle price trends, and depreciation rates by segment.
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Over the past three years commercial remarketers have cut the time it takes to sell a vehicle from the moment it arrives at auction by five days.
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KAR Auction Services Inc. has introduced a data-driven pricing tool called Pricing Insights designed to help fleet and other commercial consignors optimize pricing on wholesale vehicles.
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Manheim Tucson has become the company's first all-digital auction.
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With the exception of luxury vehicles, most vehicle segments saw stable values last week.
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Sedan wholesale values are expected to improve as more SUVs and crossovers return to the used market. Meanwhile, SUV and crossover wholesale values are beginning to decline
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Used vehicles from fleet consignors in ADESA sales increased 4.3% to $13,771 in April compared to March, and were up 4.4% from a year ago, according to monthly commentary from Tom Kontos.
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Overall wholesale values remained stable last week, however, luxury values continued to decline last week.
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Manheim made its first digital sale a little over 20 years ago. Over the past 20 years, the company's digital sales have grown from fewer than 100 annual digital sales to over 600,000.
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