Whether a seasonal trend or a sign of things to come, Black Book recorded the largest year-to-date weekly decline in car values last week. Trucks also recorded a sizable drop in values.
ADESA's chief economist reported this week that the continued strength of the truck segment drove a year-over-year increase in wholesale prices, while weak car sales contributed to a month-over-month price decline.
E-Credit Express announced today it will integrate NADA Used Car Guide values into its lender management platform to speed up the used-vehicle sale and loan approval process for dealers and finance sources.
For the second time this year, the seasonally adjusted annual rate (SAAR) for new vehicles fell below 17 million in August. Manheim, however, said the drop 'may be a good thing."
Asbury increased its F&I per-copy average 3% to $1,436 in the second quarter. But total F&I gross profit fell due to a 'Choppy' retail environment, officials said.
Wholesale prices for vehicles up to eight years in age fell 2.3% in July, tying June for the biggest drop recorded so far this year, according to the NADA Used Car guide. As a result, the firm lowered its seasonally adjusted used vehicle price index 1.1% to 118.9 .
The average wholesale used price in July was $10,362, a 2% decline from June but a a 4.9% increase from a year ago, according to ADESA Analytical Services. The strength of truck prices carried the year-over-year gains.
Carfax Snapshot is designed to help consumers shopping on third-party websites make faster buying decisions by putting key vehicle history details — including reported accidents, number of owners, service records, and open recalls — on the search results and vehicle details pages.
A South Carolina dealer learned the hard way that concealing damage to a used vehicle can result in costs that far outweigh its value.
Dealers are using time-to-market to improve reconditioning processes, reduce costs, and maximize profits on used-vehicle sales.
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