Wholesale Used-Vehicle Prices Take Big Dip in August
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
Sales into commercial fleets were up 37% and sales into government fleets were up 28% last month compared to August 2021.
Cox estimates that used retail sales increased 11% in August from July and that used retail sales were down 9% year over year.
The companies are collaborating on an electric vehicle-specific valuation influenced by the condition of the battery, the most expensive part of an EV.
IARA Summer Roundtable: A panel of economists laid out a mash up of economic indicators and remarketing industry signals that show the worst is over since 2020. But how much improvement lies ahead?
An iseecars.com study finds electric car prices saw an increase of 54% in July from the same month last year while gas-powered cars were up just 10%.
IARA Summer Roundtable: Electrification expert Kristin Slanina supercharged the annual consignors and remarketers conference with a step-by-step hopeful outlook for adopting, using, and reselling EVs.
The partnership between Cox Automotive Mobility and Spiers New Technologies adds new service centers to support the transition to electric vehicles.
CAR 2023 has entered the planning stage and seeks industry ideas for panel topics, seminars, and presentations.
IARA Summer Roundtable: The International Automotive Remarketers Alliance recently found far more questions than answers on how to value and handle the coming wave of used electric vehicles.
All major market segments saw seasonally adjusted prices that were higher year over year -- but declined -- in the first half of August.
Used vehicles are tracking at a fairly normal pace for supply. Sales have slowed compared to the strong pace in the summer of 2021, but are still relatively healthy.
The used market this year is feeling the effects of high-inflation and elevated used-vehicle prices. Sales continue to be soft, but the market is not under stress
Used vehicle consignor CarLotz will enable Shift to pursue a new business plan focused on allowing consumers to buy vehicles online, sight unseen, for pickup or delivery.
The average price for a new electric vehicle – over $66,000, according to Kelley Blue Book estimates – remains well above the industry average and more aligned with luxury prices versus mainstream prices.
Sales into commercial fleets were up 19% year over year, and sales into government fleets were up 31%, but rental were down 7%.
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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