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Transportation and shipping expert identifies three reasons auto transportation costs are up this year.
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It’s not just the wave of off-lease vehicles expected to return to the market this year and next, it’s the type of vehicles returning that could stunt new sales. Rising interest rates, however, could turn the tide for the new-vehicle market.
Read More →The spring selling season got off to an early start, leading to a slight month-over-month uptick in the firm’s Used Vehicle Retention Index. The big question is how the harsh weather that has recently struck parts of the country will impact values moving forward.
Read More →The used-vehicle retailer has named Don Reese as its new CEO. He replaces Ray Fidel, who stepped down as the company's chief executive in January.
Read More →Total revenue and gross profit were down 5% and 2% from a year ago, respectively, with Hurricane Irma having a significant impact on sales in the group’s core Florida and Georgia markets. F&I was a bright spot, with total gross profit up 4% and the group’s per-copy average increasing by $142 from a year ago to $1,547.
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The Manheim Used Vehicle Value Index reached a record high in September for the fifth consecutive month, while the SAAR rose to its highest September reading in three decades. The main driver was replacement demand caused by hurricanes Harvey and Irma.
Read More →Despite a few political and economic setbacks, 2017 is expected to be one of the highest performing years on record in terms of auto sales. They key going forward is the Trump Administration’s ability to turn its pro-business campaign rhetoric into reality.
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Wholesale prices of used vehicles up to eight years in age fell by 1.2% in August. Over the past five years, however, losses for the period averaged a more significant 2.2%.
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Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
Read More →The editor provides an up-close look at the topics he hopes to cover during his Industry Summit 2017 panel session. He’d also like to hear your take on these hot-button issues.
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