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Average wholesale prices in June were down vs. June but up vs. a year ago. A drill down into the data, however, reveals price softening on a year-over-year basis when accounting for sales type, vehicle age, model class, and mileage, KAR Chief Economist Tom Kontos said today.
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Using internet equipment auctions can help you overcome the problems of tight timelines, market value and changing brands, according to the company.
Read More →As manufacturers continue to release new vehicles into the luxury segment, the number of vehicles in the segment has grown. This along with overproduction and higher incentives has led to higher depreciation rates for the segment.
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New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.
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Consignments were down in May and June; however, healthy sales percentage rates kept sales numbers at Northeast auctions at relatively stable levels, compared to the year before.
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Wholesale auctions sold 9.8 million vehicles worth $100 billion in 2016 with the majority coming from dealer consignment, according to the National Auto Auction Association (NAAA). The association has been surveying its members for 20 years.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
Read More →Black Book will be powering MyDealerOnline, an online vehicle valuation resource that uploads wholesale auction and other wholesale-sourced vehicles to dealer websites, according to the company.
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Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
Read More →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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