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KAR expects to be immediately profitable across its North American dealer-to-dealer platforms while enhancing its position in the highly fragmented wholesale used vehicle market.
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The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
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The mid-month Manheim Used Vehicle Value Index is still up 18% year over year.
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The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
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The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
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Wholesale used-vehicle prices increased 3.74% in the first 15 days of March compared to the previous month.
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Wholesale used vehicle prices jumped 3.79% month-over-month in February, led by a major increase near the month's end.
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Volume-weighted, overall car and truck segments both experienced continued softening in values to round out the last full week of 2020, but are higher than seasonal averages of the previous three years.
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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.
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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.
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