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The used car market has adopted a Swiss Army-knife approach to managing the “off-lease tsunami,” which turned into a manageable rising tide. Are new market dynamics breathing life into a segment left for a dead, the midsize sedan?
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Sales into rental fleets are up in the first quarter, while residual values are softening. Are higher fleet costs and over fleeting on the horizon?
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A significant part of the automotive value chain, Enterprise’s operations result in over 1 million used vehicles that become available for sale every year.
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Enterprise Car Sales has joined the SiriusXM Pre-Owned Program, meaning that customers who purchase a used vehicle from an Enterprise Car Sales location will be offered a three-month subscription to SiriusXM’s All Access audio package, according to a company announcement.
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The used-vehicle industry reached a record-breaking 39.2 million in sales in 2017, representing a 1.6% year-over-year increase, according to the latest Used Car Report from Edmunds.
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Upon closer look at the registration, the owner discovered the vehicle was previously leased to Europcar Group U.K., and that it had multiple users.
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iBidSmart has launched a new platform that allows rental car companies to auction wholesale inventory directly to dealers.
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Depreciation trends for both car and truck segments are seasonally lower than what is normally expected this time of year, according to Black Book’s Oct. 23 Market Insights report.
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The streak continued in July, with the Manheim Used Vehicle Value Index recording its third consecutive record in July. Driven by the 0.75% month-over-month increase in wholesale used-vehicle prices, the index rose 2.6% from a year ago to 130.1, according to the firm.
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The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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