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ADESA Halts Physical Auction Sales
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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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.
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.
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.
Manheim will implement Simulcast-only sales at all of its U.S. locations effective March 16 to April 3, following the ongoing public health and safety concerns of COVID-19.
Vehicle values held steady last week, as various luxury segments continued to see positive movement in their week-to-week wholesale values.
Merchants Fleet is expanding capacity for its in-demand commercial vehicle remarketing services and has hired Jesse Hopperstad as a remarketing sales manager, where he will be responsible for assisting new and existing Merchants Fleet clients in the Western half of the country with remarketing their vehicles.
Companies such as Manheim and ADESA have invested time and money to bolster the digital side of their business to meet the demands of this growing field, and so have fleet management companies.
Online remarketing has been a growing trend for the past few years and it promises to continue. As more remarketers are selling and buying wholesale vehicles online, some new trends have emerged.
Overall car segment values decreased 0.11% last week, compared to a 0.04% gain the week before. Overall truck segment values decreased 0.03% last week, compared to 0.19% the week before.
Overall wholesale values last week were strong, indicating a possible early start to the spring sales season.
Overall car segment values decreased 0.21% last week, compared to 0.13% the week before. Overall truck segment values decreased 0.18%, compared to 0.28% the week before.
Overall car segment values declined 0.13% last week, compared to 0% the week before. Overall truck segment values decreased 0.28% last week, compared to 0.17% the week before.
Wholesale values saw unusually low depreciation last week, according to Black Book’s Jan. 21 Market Insights report.
Wholesale values as of the second week of the new year are holding stable, which is the inverse of the heavy depreciation that late 2019 saw.
The winner is announced at the annual Conference of Automotive Remarketing, which this year will be held on March 24-25, 2020 at Caesars Palace Las Vegas.
The 2019 International Automotive Remarketers Alliance (IARA) Spring Roundtable was co-located with the 2019 Conference of Automotive Remarketing at the Caesars Palace Las Vegas.
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