For model years 2008-2014, compact cars realized a wholesale value decline of 0.11% — the lowest level among all small cars. Alternatively, prestige luxury cars and subcompact cars realized the highest wholesale-value declines, with depreciation of 0.69% and 0.64%, respectively.
By the time the NADA was founded in 1917, the sufficiency of units in operation meant a growing opportunity for used-vehicle sales. According to 1917 motor vehicle registrations, as compiled by the U.S. Bureau of Public Roads, nearly five million cars and trucks were registered. And by late 1916, creative rebuilders were putting old cars, now “reconditioned,” back on the road.
Average wholesale values fell again on a month-over-month basis in June, but they remain up on a year-over-year basis thanks to the continued price strength of trucks, according to ADESA Analytical Services.
The company that aims to change the way dealers sell, source, acquire, and deliver used cars announced it has raised an additional $7.5 million in equity capital. Launched in mid-2015, the Chicago-based startup has now raised $17.5 million in funding.
TD Economics, an affiliate of TD Bank and TD Auto Finance, projects U.S. auto sales will peak at 17.6 million units this year before edging down to 17.3 million in 2017. But sales should remain at the 17 million-unit level for some time, the finance source’s economist noted.
In a joint report issued this week, the two firms said increased supply and incentives will drive higher depreciation in 2016. Auto ABS performance will face pressure, but no material concerns, the firms say.
The online startup looking to reinvent how cars are bought and sold has agreed to purchase the pioneer of selling vehicles online. According to officials, the two brands will co-exist and continue to operate online separately.
AUL Corp. was named one of the North Bay Business Journal’s ‘Best Places to Work in the North Bay,’ the second time the provider of used-vehicle service contracts has earned the distinction.
The Silicon Valley Auto Dealers Association has filed an appeal with the San Jose planning department over a proposed CarMax facility, claiming it will “cannibalize” used-car sales.
ADESA’s chief economist says off-rental program vehicles kept wholesale prices artificially high in October. They also masked softness in a market that is facing high incoming supply.
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