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The third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
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The decrease in U.S. auto sales is due to historically low new-vehicle inventory levels, which are over 50% lower than they were a year ago.
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High prices and relatively tight inventory keep more buyers at bay.
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As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
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Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
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Chip shortages and surging demand are squeezing used vehicle sales while inflating prices.
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The 2021 International Car Rental Show’s keynote features three fireside chats on the car rental industry post pandemic. Withington and experts from Cox Automotive and CarTrawler will explore the travel recovery, macroeconomic conditions, vehicle supply, and pricing and booking trends in car rental and the larger travel spectrum.
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For April, Manheim’s rental risk unit share fell to the lowest level since 2002. Rental car companies are net buyers, not sellers, of wholesale used vehicles right now, says Cox Automotive’s Jonathan Smoke.
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Strong spring sales thanks to tax refunds and stimulus checks depleted the supply.
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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.
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