ATLANTA, Nov. 4, 2019 – Scott Maybee has been named president of NextGear Capital, effective today. Maybee comes to NextGear from Manheim Northstar Minnesota, where he was general manager and responsible for all facets of the Minneapolis-based operation. Prior to joining Manheim, Maybee spent 10 years with Nissan North America and Nissan Motor Acceptance Corporation, rising … Continued
Auto Remarketing, October 29, 2019 — Manheim Digital vice president Zach Hallowell, who is the closing keynote speaker at Used Car Week’s National Remarketing Conference, sat down with senior editor Joe Overby at the recent NAAA Convention in Indianapolis for an episode of the Auto Remarketing Podcast. In the conversation, Hallowell shares how he sees the … Continued
ATLANTA, Oct. 28, 2019 – No big scares are expected from the new-vehicle market in the U.S. this October. When reported on Friday, Cox Automotive is forecasting October U.S. new-vehicle sales volume to finish at nearly 1.37 million, up slightly from last year. However, with an extra selling day this October compared to last year, … Continued
ATLANTA, Oct. 28, 2019 – Holly Capps has been promoted to senior vice president of Manheim sales, reporting to Tim McKinley, chief sales officer at Cox Automotive. Since July, Capps served as the Manheim sales leader on an interim basis. As vice president of commercial sales for Manheim since 2017, she developed and executed a … Continued
Auto Remarketing, Oct. 18, 2019 – Lease penetration a shade below 30% not only means that demand for leasing is strong, but future off-lease volumes should continue to be plentiful to a used-car market that hasn’t just absorbed the additional supply, but thrived from it. That’s according to analysis released Friday by Cox Automotive, which did … Continued
WardsAuto, Oct. 14, 2019 – Product affordability has become a big auto industry issue, but what’s causing the steady rise in new-car transaction prices? Part of it is that automakers are putting more advanced technology systems into their vehicles, making some of them semi-autonomous in their ability to do things such as automatically brake and maintain … Continued
Bloomberg, Oct. 11, 2019 – Falling used-car prices last month were a major contributor to subdued inflation for the U.S. economy. Auto analysts warn this could be a lasting trend with major negative implications for new-vehicle demand. The 1.6% monthly drop in used-car prices last month was the biggest decline in a year, a Labor … Continued
Automotive News, Oct. 7, 2019 — The numbers looked ugly, but U.S. auto sales weren’t really that bad in September, considering hefty fleet volumes and a shift in the calendar. The industry’s seasonally adjusted, annualized selling rate came in at an estimated 17.16 million, according to the Automotive News Data Center. That would be the fourth-highest … Continued
ATLANTA (Oct. 7, 2019) – Wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) decreased 1.04% month over month in September. This brought the Manheim Used Vehicle Value Index to 139.9, flat from a year ago and off the record high for the Index. Weekly Manheim Market Report (MMR) prices showed increasing depreciation … Continued
Auto Remarketing , Oct. 4, 2019 — The automotive industry is experiencing a used-car renaissance with consumers heavily favoring used inventory over new for their vehicle purchases. While many factors are in place, this shift could primarily be attributed to used vehicle quality being better than ever, while new car prices continue to skyrocket. In fact, … Continued