
Avis Budget Group has added North Carolina and South Carolina to its consumer car sales program.
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In addition to a greater supply of off-lease units, both ADESA and Manheim report a greater percentage of older, higher mileage rental risk units as driving down prices in wholesale channels.
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Wholesale used vehicle prices declined in May, according to both Manheim Consulting and ADESA. Auction prices for rental risk units were down more than 10% from a year ago, according to Manheim.
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Average wholesale used vehicle prices increased in April in a trend attributed to a significant proportion of sales of higher priced, late-model, off-rental, manufacturer program vehicles that elevated average prices, according to ADESA.
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Wholesale used vehicle prices declined in February, according to both Manheim Consulting and ADESA, yet topped last February’s prices. Auction prices of rental risk units were up in February and mileage rose to more than 48,500 miles, according to Manheim.
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The used-vehicle market weakened in January, as 2008-'12 model-year vehicles depreciated 1.9 percent compared to the 1.4 percent depreciation in December, according to Black Book's monthly reporting.
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Toyota leads automotive brands in resale value with Subaru a close second in Kelley Blue Book's 2014 Residual Analysis Report released Monday.
Read More →Enterprise’s new tablet-based vehicle sales mobile app brings used vehicle inventory directly to dealers.
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As in March, wholesale used vehicle prices rose seasonally but fell annually in April, indicating continuation of a softening overall pricing environment.
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Wholesale used vehicle prices fell again in March, Manheim Consulting reported.
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