Black Book reports used vehicle values fell by 1% in September, led by declines in the compact van and luxury car categories. Only one segment showed improvement.
‘Market strength is waning’ for used vehicles after a strong summer, a trend that is likely to continue through the end of the year, according to the latest report from Black Book.
Manheim has promoted Eddie Lafferty to general manager of Manheim Seattle and named Danny Brawn as Lafferty’s replacement in the same position at Manheim Nevada.
Executives said a wave of acquisitions and new offerings prompted the name change, saying dealers and other automotive industry users are increasingly demanding ‘global’ solutions.
J.D. Power’s latest index finds average prices for used vehicles were up 2% year-over-year in August. Analysts say the segment will continue to drive profits for dealers for the foreseeable future.
ADESA partnered with Fiat Chrysler Automobiles to debut the next phase of its Simulcast cloud-based online auction solution at a national meeting of franchised dealers.
The Manheim Express mobile app now includes a machine learning-fueled Recommended tab and in-app access to the auction company’s offer management tools.
Manheim Market Report now includes personalized vehicle inventory suggestions, a new feature designed to help dealers quickly find the right vehicle at the right price.
A new, proprietary algorithm built into ADESA.com was designed to identify the best vehicles for each dealer’s pre-owned inventory needs.
Manheim policymakers believe predictable pricing will persuade more dealers to take advantage of post-auction inspections after buying in-lane, at a physical sale, or through digital channels.
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