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used-vehicle sales

Used Car Price Gap Grows to $15K in Q3 Report

Edmunds’ latest Used Car Report finds high off-lease volumes have suppressed prices and widened the gap between new and 3-year-old models to an average of $14,951.

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DealerSocket Adds Single Page Appraisal to Inventory+

DealerSocket announced the launch of Single Page Appraisal, a new feature available to users of the company’s Inventory+ platform.

Q3 Auto Finance: Used Accounts for 55% of Loans

Experian analysts say buyers of pre-owned vehicles accounted for 55.15% of all U.S. auto loan originations in the third quarter, a 2.4% year-over-year increase.

Pre-Owned Values Down 1.4% in November

Black Book reports retained values for used vehicles decreased sharply last month. If the index holds through December, it will end 2019 on a year-over-year decline of nearly 2%.

Report: Spike in Wholesale Volume Hurts Pre-Owned Values

Prices for used vehicles declined 4.2% in the first 10 months of 2019 while volume increased 5.2%, J.D. Power analysts say, a trend that has begun to affect the commercial market.

Picard Moves to New VP Role at Manheim

As vice president of industry partnerships, Julie Picard will provide leadership and strategic direction in Manheim’s work with auto dealers and other groups.

Mass. Dealer Agrees to Nearly $1M Settlement

The Boston-area AutoMax group has agreed to a $925,000 settlement after facing accusations of misrepresenting vehicles, warranty and service contract coverage, and fees.

ADESA Adds VirtuaLane Support to Mobile App

A new internal integration was designed to facilitate access to all 26 ADESA VirtuaLane locations through the company’s proprietary Marketplace mobile app.

Used Trucks Lost More Value Than Sedans in October

Black Book’s latest Used Vehicle Retention Index report shows retained values for light trucks declined at a faster rate than many car segments.

Consumers Prioritize Affordability as Loan Amounts Increase

Wary of unmanageable monthly payments, the American car buyer’s attention is increasingly shifting toward used vehicles, leases, and longer terms as the cost to buy a new car or truck continues to climb.