With the help of industry experts, Automotive Fleet takes a look at the current state of the used-vehicle market and what the near future may hold.
October figures show buyers are much more aggressive in purchasing than is typically the case in the fall. Combined sales into large rental, commercial, and government buyers were down 24% year-over-year in October.
The sales conversion rate also increased last month and ended at a level higher than typical for August, indicating buyers have become more aggressive than they were in June and July.
The third-party battery health diagnostic tool will strive to become the industry standard to assess the condition and value of EV batteries.
The IARA Summer Roundtable conference balanced a look back at successes while confronting industry challenges ahead.
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.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
The Manheim Used Vehicle Value Index hit a record high of 203, and likely won't reach into the 200s again for several years.
Demand has been healthy, inventories tight, and dealers have felt little pressure to lower prices.
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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