Manheim Introduces Self-Inspection Tool for Consignors
Next Inspect helps automakers, captive lenders, and fleet owners capture more accurate vehicle conditions to inform buying decisions.
Next Inspect helps automakers, captive lenders, and fleet owners capture more accurate vehicle conditions to inform buying decisions.
Association of Fleet Professionals' board chair says the most popular fleet EVs have seen residual value reductions of 10-20% in the past 12 months.
With the move to virtual and digital solutions, auction companies are evolving to meet the changing needs of rental fleet customers, with a focus on new technology tools.
For the second month in a row, average transaction prices undercut manufacturer's suggested retail prices, reversing a prior 20-month trend.
Major automakers appear to be preemptively pulling the fleet lever to stymie any significant increase in retail inventory.
Conditions have shifted to favoring buyers; but with tight supply, the market is close to a balance between buyers and sellers.
Analysis: Consumers are repairing vehicles and holding them longer to avoid historically high used-car prices. The real question is: How long will used inventory remain tight and prices above normal?
The renaming caps an evolving strategy for consolidating online and digital auction marketplaces into a more streamlined whole that speeds up vehicle transactions.
CAR 2023: What happens when you put four remarketing economists and analysts in one room? Lots of data, predictions, trends, and uncertainty.
Prices usually decline in the first two weeks of April, but in each of the last two years prices increased substantially during these same weeks, the Manheim Index shows.
After closing out 2022 with the longest-running, sharpest decline over a single year, wholesale used vehicle prices have risen in 2023.
CAR 2023: The annual messages from the National Auto Auction Association and International Automotive Remarketers Alliance presidents homed in on the volume of industry activity and macro-influences on the market.
CAR 2023: Recipients of the IARA Circle of Excellence, CAR Remarketer of the Year, and CAR Consignor of the Year awards swept the stage with industry accomplishments.
Hallett served in an active 25-year career with KAR Global but he will still keep his seat on the company's board of directors.
Overall sales are up in the quarter, including for fleets. However, headwinds are growing and inventory levels are moving back above the pre-pandemic normal, suggesting a slowing of demand.
The 2016 Conference of Automotive Remarketing (CAR) took place March 16-17 at Caesars Palace, Las Vegas. Now in its 21st year, CAR delivered high-quality discussions and information on subjects ranging from automating the if-bid system to how to maximize auction earnings to a look forward to residual values for 2016-2017. In addition, attendees had plenty of opportunities to network and build their personal and professional connections. Photos by Chris Wolski and Steve Reed.
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