Used vehicles from one to five years old fell 1.4% in value in October in a steady used-vehicle market that showed significant improvement from a year ago with large pickups leading the way, reports Black Book.
This year, the 23rd annual conference will be hosted at Caesar’s Palace in Las Vegas from March 6 to 7, following meetings of the International Automotive Remarketers Alliance and National Auto Auction Association meetings on March 5.
Wholesale used vehicle prices rose for the sixth month in a row in October, increasing by 1.02%, according to Manheim’s October Used Vehicle Value Index. This brought the index to 136.3, an 8.1% rise from a year ago.
As vintage Chevrolet trucks increase in popularity with enthusiasts, more trucks are going up for auction and sale prices for the most coveted trucks keep increasing. As we look back at 100 years of Chevy truck history, here’s a gallery of the nine most expensive Chevrolet trucks sold at Barrett-Jackson auctions to date. Photos courtesy of General Motors.
Average wholesale prices for used fleet lease vehicles increased 0.2% in September from the prior month and 3.6% from the prior year in a market that was bolstered by dealer demand in hurricane-stricken regions, according to Tom Kontos, KAR Auction Services' chief economist.
For fleets, technology is enabling a more efficient way to use vehicles, increase utilization, and more precisely match the type of vehicle to usage.
Manheim Puerto Rico hosted its first post-hurricane sale on Oct. 12 — 200 vehicles were offered for sale, the auction announced. Of those, 70 sold and an additional 30 vehicles are pending sale.
The average price of used vehicles model years 2012-2016 fell 0.7% in September, with the lion’s share of that depreciation coming from the car segment, according to Black Book. As of September, all vehicles are averaging a 12-month depreciation of 14.5%.
RMS Automotive has enhanced its MOVE dealer web portal for French manufacturer PSA Group's vehicles. PSA Group uses the upstream remarketing platform in 22 countries to for Peugeot, Citroen and DS Automobiles brands.
Wholesale used vehicle prices rose 2.77% in September on a month-over-month basis, which drove Manheim’s Used Vehicle Value Index up 6.3% from a year ago to 134.9, marking five months of consecutive growth.
Fleet managers should consider seven areas of a vehicle, when maximizing resale value. Condition reports generated by third-party inspectors can help spell out a vehicle's true condition.
The recall, set to get under way Nov. 7, covers more than 646,000 vehicles in the 2011 to 2014 model years.
The demand for replacement vehicles has already started, and experts say it will continue well into October, and possibly November, as insurance payouts are received.
Franchise dealers now view the used car market more optimistically than the new vehicle market, according to a new sentiment index from Cox Automotive. The finding speaks to the current shift of car buyers with prime and subprime credit toward the used market.
The funding, provided by TRP Capital, will help the company expand retail locations that serve corporate fleet customers including fleet management companies.
The Conference of Automotive Remarketing drew a professional crowd that networked for business and cultivated industry friendships.
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