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Jay Cadigan will retire from Manheim, capping a 40-year career in the remarketing industry that included stints at auctions, as well as leasing companies and rental car operators.
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Retail used car sales are up 4.3% year-to-date, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights.
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Manheim has acquired Pacto São Paulo and is developing commercial partnerships with six other auction companies to invest in in Brazil.
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The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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Wholesale values for used vehicles reach a record-high of 127.9, while new vehicle sales dropped 2% compared to last year.
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While wholesale used-vehicle prices declined by 0.5% in March, the Manheim Used Vehicle Value Index — a measure of wholesale prices adjusted for mix, mileage and season — came to a reading of 124.1. This is an increase of 1.3% from a year ago.
Read More →Wholesale used-vehicle prices declined in October 0.7% and non-seasonally adjusted prices declined 2%, showing a downward trend for all vehicle segments in recent months.
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Wholesale used vehicle prices increased in July despite expectations that wholesale prices would suffer in 2016 due to growing wholesale supplies.
Read More →Cox Automotive Canada with its Manheim Canada operations has partnered with XLane to provide a digital solution for dealers with InstantAuction.
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New tools not only automate the checkout and check-in processes but they also streamline aspects of fleet management, such as vehicle movement and inventory, damage documentation and selling at auction.
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