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.
George Daniel Largay died on Sept. 30 from pancreatic cancer. He was 75 years old.
Manheim and Adesa auctions in the path of hurricane Dorian mostly shifted to digital sales on Thursday as the storm drenched the Carolinas and Virginia.
The nation's largest wholesale vehicle auctions, including Manheim and Adesa, have shifted to digital-only auctions and taken other precautions to protect the facilities from Hurricane Dorian's possible landfall later this week.
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.
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.
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.
Manheim Tucson has become the company's first all-digital auction.
Manheim made its first digital sale a little over 20 years ago. Over the past 20 years, the company's digital sales have grown from fewer than 100 annual digital sales to over 600,000.
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.