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The estimated seasonally adjusted annualized rate of U.S. new vehicle sales continues to hover around the 17 million-unit mark after several major manufacturers enjoyed year-over-year improvements in November.
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Cox Automotive has appointed Scott Maybee as president of NextGear Capital.
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Certified pre-owned vehicles have been strong this year. If the segment's current pace continues it should be able to beat out last year's record sales year.
Read More →Wholesale used vehicle prices decreased 1.04% in September compared to prices the month before, according to Cox Automotive’s latest Manheim Used Vehicle Value Index report.
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Cox Automotive forecasts 1.25 million new-vehicle sales in September 2019, which would represent a 14% drop from the previous year.
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Battery-electric truck and SUV startup Rivian has added a third, large investor this year with a $350 million stake from Cox Automotive, the company announced today.
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Nick Peluso, a 30-year veteran of the remarketing industry and leader at Manheim since digital auction sales were a burgeoning idea, will retire at the end of the year.
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Manheim's president who oversees the inventory solutions unit offers thoughts on fleet mobility services, bringing artificial intelligence to inspections, and the company's diversification strategy.
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Through the 12-month period ending in June 2019, overall manufacturer incentive spend has declined, and the strength of fleet sales this year has been a big reason why.
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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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