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Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.
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Overall vehicle costs and perceptions of battery lifespan regarding battery-electric vehicles are some of the biggest barriers to EV adoption for dealers and consumers according to a report by Cox Automotive on the path to EV adoption, which also reflects trending fleet perceptions of the segment.
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Prompted by a severe shortage of auto technicians nationwide and fast-growing need by clients for the company’s reconditioning services, Manheim has launched its own apprentice program, the company announced.
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The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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Tony Markese will lead Manheim's strategic direction for its reconditioning services as its new VP of reconditioning.
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Hertz My Car, which is available in Atlanta and Austin, will give customers access to Hertz's fleet of sedans, crossovers, SUVs, and trucks through a monthly subscription.
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U.S. new-vehicle dealers sold 1,328,649 cars and light trucks in April, a 2.3% year-over-year decline and a full 3% loss to start the year compared with the first four months of 2018.
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Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
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Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
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The lull that the wholesale market experienced through January and February was upended in March, as the industry saw the traditional spring bounce in values, according to the most recent Manheim Index report.
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