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Overall Light-Vehicle Sales Down in May but Expected to Rise
The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
In the city that was the epicenter for the coronavirus pandemic, auto sales are expected to rebound to year-over-year parity by the end of April, the Reuters report states.
KAR Global is immediately transitioning to Simulcast-only sales at all U.S. and Canada ADESA auction locations until further notice as the coronavirus pandemic continues to evolve, according to KAR Auction Services.
Nearly three in five (58%) of those planning to spend their 2019 tax refunds intend to put them toward a car purchase, the survey found.
The memories of the stripped-down rental car are gone. What’s changed, and how has it affected the new and used vehicle ecosystem?
The fully automated damage inspection portals from ProovStation can identify scratches as small as a millimeter, according to the company.
The used car market has adopted a Swiss Army-knife approach to managing the “off-lease tsunami,” which turned into a manageable rising tide. Are new market dynamics breathing life into a segment left for a dead, the midsize sedan?
The annual program recognizes Enterprise Holdings’ automotive auction partners for their exceptional services and support efforts to remarket the company’s late-model, low-mileage, well-maintained rental, and fleet vehicles to potential buyers.
An increasing number of flood-damaged vehicles are returning to the used market across the country, and increasingly in states where flooding might not be top of mind, according to new data from Carfax.
The average three-year-old used vehicle cost buyers $14,443 less dollars then its new equivalent during the second quarter of 2019, according to the latest Used Vehicle report from Edmunds.
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.
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.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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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