Wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) increased 1.33 percent month-over-month in April. This brought the Manheim Used Vehicle Value Index to 132.5, which was a 6.3% increase from a year ago and the highest level since last November. Looking at trends in weekly Manheim Market Report (MMR) prices, the … Continued
When VinSolutions describes its culture, one word that’s top of mind is family. “The type of people that work here tend to care quite a bit and will do whatever needs to be done,” said Sam Passer, associate vice president of client onboarding for VinSolutions. “What makes us a family atmosphere is being able to … Continued
Fifteen years ago, skeptics said no one would buy a vehicle at an online wholesale auction, says Grace Huang, president-inventory solutions for the Manheim auto auction chain. Today, dealers regularly participate in Internet auctions. A sign of that digital movement’s progress (and the technology that enables it) is the impending summer launch of Manheim Express, … Continued
At this time in the car business when it is getting harder and harder to hold gross on new-vehicles, used-vehicles are becoming more critical to dealer profits than ever before. In spite of these trends, many dealers still do not have a solid grasp on their used inventory. According to Cox Automotive, new vehicle sales … Continued
Each month automotive industry experts from Cox Automotive and its brands host a sales day commentary call to provide insights into the previous month and to answer media questions related to market movement. The audio for the most recent call which covers the April selling month is available. Listen › Automakers reported April 2018 U.S. … Continued
Stephen Orban, general manager at Amazon Web Services, published a book called “Ahead in the Cloud: Best Practices for Navigating the Future of Enterprise.” It is a must-read for business leaders looking to transform their enterprises using the cloud. As he demonstrates in this book, enterprises must re-train their people, evolve their processes, and transform their … Continued
For decades, the first negotiation at a dealership was over the trade-in’s value. And it wasn’t just store vs. customer. Often, the debate pitted the salesman against the used-car manager. A higher trade-in appraisal could save the deal, the new-car salesman knew. But overpay, and the used-car department could be stuck with an almost guaranteed … Continued
Waves of off-lease vehicles keep on rolling into dealer used-car lots, but the product mix returning this year and next will present stiff competition to the new-car market, says Charlie Chesbrough, Cox Automotive’s senior economist. That’s because the returning off-lease vehicles will contain a hefty share of CUVs, SUVs and pickup trucks – “the products … Continued
ATLANTA, April 26, 2018 – U.S. new-vehicle sales in April are expected to fall 3.6 percent compared to April 2017, according to a forecast released today by Cox Automotive. However, despite the expected volume decline, the sales pace in the U.S. remains strong, at a seasonally adjusted annual rate (SAAR) of 17.3 million units, above … Continued
Cox Automotive and Shift Technologies have announced they are launching a national strategic partnership, enabling the online vehicle retailer to utilize Manheim facilities and services to support its digital business. According to officials, the relationship will help Shift expand operations with reduced capital investment and drive efficient launches in markets where Manheim has a presence … Continued