Wholesale used vehicle prices increased 0.9% in the first 15 days of October compared to the month of September, bringing the mid-month Manheim Used Vehicle Value Index to 162.7, a 16.0% increase from October 2019.
KAR Auction Services, Inc. has signed a definitive agreement to acquire BacklotCars Inc., an app and web-based dealer-to-dealer wholesale platform featuring a 24/7 “bid-ask” marketplace and comprehensive vehicle inspections performed by automobile mechanics.
Manheim expanded its Digital Block sales, adding seven more locations with in-lane bidding with a live auctioneer; however, vehicles are only displayed on screens and never travel down physical lanes.
Volume-weighted, overall car and truck segments both showed signs of slowing with the overall market decreasing by 0.15% this past week, compared to a 0.14% decrease the prior week.
iSeeCars.com analyzed over 8.5 million used car sales across the three dealer types and found that rental car dealers consistently provide the greatest savings, while local dealerships are priced close to market value and virtual dealerships are priced above market value.
Wholesale used vehicle prices increased 3.64% month over month in August, bringing the Manheim Used Vehicle Value Index to 163.7 a 15.8% increase from a year ago and another record-high for the Index, which also occurred in June and July of 2020.
Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 3.4% comparing the first 15 days of August to the full month of July, continuing record setting-performance for wholesale prices.
Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
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 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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