Wholesale used vehicle prices increased 5.84% month over month in July, bringing the Manheim Used Vehicle Value Index to 158 a 12.5% increase from a year ago and another record-high for the Index, which also occurred in June.
New vehicles priced between $30,000 to $40,000 are in the shortest supply while those priced below $30,000 have the highest inventory, according to a Cox Automotive
The COVID-19 pandemic is still plaguing the light vehicle market, but May’s sales pace is still expected to be a giant step forward on the path to recovery.
Manheim's president who oversees the inventory solutions unit offers thoughts on fleet mobility services, bringing artificial intelligence to inspections, and the company's diversification strategy.
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.
Mass adoption of autonomous vehicles should begin ramping up in 2023 and will ultimately drive a shift in vehicle ownership from consumers to larger mobility service providers with large fleets of battery-electric, autonomous vehicles, according to a new study from Cox Automotive.
For fleets, technology is enabling a more efficient way to use vehicles, increase utilization, and more precisely match the type of vehicle to usage.
As many as 400,000 vehicles in Florida will need to be replaced as a result of Hurricane Irma, including as many as 11,000 fleet vehicles, according to Cox Automotive.
While market watchers agree that Hurricane Harvey's impact stretches beyond Houston-area automotive business, estimates on exactly how many vehicles will need to be replaced vary between half a million and million vehicles, including as many as 18,500 fleet vehicles.
The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.
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