Private Equity Firm Buys Majority Stake in XLerate Group
The automotive remarketing sector is seeing big changes due to an increased use of technology, evolving vehicle mix and shifting expectations from buyers and sellers.
The automotive remarketing sector is seeing big changes due to an increased use of technology, evolving vehicle mix and shifting expectations from buyers and sellers.
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.
A recent quarterly report from Haig Partners shows that buy-sell activity among auto dealerships has exploded, leading to "empty lots and overstuffed wallets."
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.
High prices and relatively tight inventory keep more buyers at bay.
The average listing price reached $25,500 as July closed, after surpassing the $25,000 mark for the first time ever in June.
Tight new-vehicle supply puts upward pressure on new-vehicle transaction prices. Affordability hits 10-year low in July.
Near-record low new-vehicle inventory and record-high prices will keep certified pre-owned units as very attractive alternatives.
As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
The company's second quarterly report in a row highlights key aggregate metrics for the auction industry.
On a year-over-year basis, all major market segments saw seasonally adjusted price increases in July.
Large rental, commercial, and government purchases of new vehicles increased 6% compared to this time in 2020, but decreased by 40% from the same time in 2019.
A white paper from AMPLY Power quantifies the vast cost savings in fuel, health effects, and pollution in the 25 largest U.S. metro areas.
The latest trends in key indicators suggest wholesale used vehicle values will continue to see depreciation in the days ahead.
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