Volume-weighted, wholesale values for overall car and truck segments both showed gains for the ninth week in a row, increasing 1.46% overall last week (compared to 1.45% the prior week).
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 4.4% comparing the first 15 days of July to the month of June, according to data published by Manheim.
Privacy4Cars and AutoIMS are providing visibility to consignors and auctions on the removal of non-public personal information previous owners and drivers may have left in consigned vehicles’ on-board systems, including previous destinations, home address, garage door codes, contact lists, call logs, text messages, device identifiers, and more.
Wholesale used vehicle prices increased 8.95% month over month in June, bringing the Manheim Used Vehicle Value Index to 149.3, a 6.3% increase from a year ago and a new record-high for the Index.
If the mid-month value of the Manheim Index holds for the full month, wholesale values will have completely recovered from the March and April declines.
The second week of June continued a story of rebounding wholesale prices, with volume-weighted overall car and truck segments both showing gains for a third week in a row, gaining 0.62% overall, Black Book reported.
Wholesale used vehicle prices increased 8.96% month-over-month in May 2020, bringing the Manheim Used Vehicle Value Index to 137%, which is 1.9% lower than it was at the same time in 2019.
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 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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