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GM Financial reported $202 million in net income in the first quarter of 2017, a 23% increase over the same time last year, despite pressure on used-car values, the company has announced.
Read More →Donlen recently announced the recipients of its 2016 Top Auction Awards, according to a company announcement. Manheim Mississippi took home top honors as the recipient of the Auction of the Year award, however, seven other auctions also received awards.
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Without fully understanding the fleet application requirements and operating parameters of truck and van assets, it is impossible to spec the best powertrain, chassis, and body needed to optimize productivity and total cost of ownership.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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The tax season had a late start in the southwest market. The boost in sales — which has been described as a steady increase as opposed to a spike this year — that auctions typically begin to see in February did not arrive until March.
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Cox Automotive has named Jonathan Smoke as its new chief economist, according to a company announcement. In his new role, the company added, Smoke will be responsible for leading the creating of an economic industry insights office.
Read More →Copart, Inc. has opened its sixth location in Brazil, according to a company announcement. Its sixth location will be located in Betim, Minas Gerais and will offer a wide selection of salvage and used vehicles, the company noted.
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A new report from Morgan Stanley warns that used-car values could fall by 25% to 50% in the next four to five years.
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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.
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