IARA Summer Roundtable: In a free-wheeling interview, entrepreneur and used car industry disruptor Ernie Garcia delivers insights on his mega-merger deal and a customer-friendly e-commerce model.
Today’s international market conditions are not so different than they were 20 years ago and there are opportunities to be had (but no one said it was easy).
All-new Purchases Page Brings greater speed, simplification and centralization to buying on ADESA.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
Diesel-powered pickup trucks sell for more than 30% of their gasoline counterparts after three years of fleet usage and return greater value with higher odometer readings, according to data from ADESA.
ADESA will not participate in an automotive remarketing industry initiative to establish a platform that would allow simultaneous bidding on vehicles listed on multiple online auction sites.
Wholesale prices remained at high levels in April, reflecting scarcity in supply and abundance of demand, according to the latest Kontos Kommentary from ADESA Chief Economist Tom Kontos.
Manheim, ADESA, and the independent auctions will begin developing a platform that allows simultaneous bidding on vehicles listed on multiple online auction sites that will be ready in the second half of 2014.
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