Particularly hard hit in September were mid-size cars, while the luxury car segment experienced a nice bounce in its average wholesale price, according to ADESA Chief Economist Tom Kontos. Mini-vans also experienced solid price growth during the month.
TradeRev, which provides a live vehicle-appraisal and auctioning app, announced the appointment of new regional directors. Taking over the South Central region is Tory Swedlund, while Will Farmer was named director of the Southeast region.
Aside from electing Mark Scarpelli chairman, the National Automobile Dealers Association’s 63-member board of directors selected Michigan's Wes Lutz as the trade group's 2017 vice chairman.
Wholesale values continued to fall last week, although cars fared better than trucks, according to Black Book. The firm reported that the wholesale value for the overall car segment decreased by 0.57% from the week prior, while the truck segment declined 0.58%.
Fueled by more than $460 million in additional funding, online pre-owned retailer Carvana is expanding into Cincinnati, the company announced today.
The retail sales finance company, Security National Automotive Acceptance Company, LLC (SNAAC), will be celebrating 30 years in business later this month, according to a company announcement.
On Tuesday, a federal appeals court ruled that the structure of the Consumer Financial Protection Bureau is unconstitutional. The appellant court’s main issue is the bureau’s single-director structure.
The perception that millennials are content with a carless, ride-hailing life may not be true after all, at least according to new data from Dealertrack.
DRIVIN announced the launch of DRIVIN Marketplace, where dealers can list and remarket unwanted inventory to their established network of dealers. The service will then match and recommend the listed inventory to more than 1,000 open vehicle searches from dealers across the country, according to the company.
Cox Automotive named Joe George senior vice president of Manheim Vehicle Solutions. He will responsible for strategy to execution, driving the wholesale and retail solutions long-term plan related to reconditioning, imaging purchase protection and inspections.
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