The Manheim Used Vehicle Value Index reached a record high in September for the fifth consecutive month, while the SAAR rose to its highest September reading in three decades. The main driver was replacement demand caused by hurricanes Harvey and Irma.
Despite a few political and economic setbacks, 2017 is expected to be one of the highest performing years on record in terms of auto sales. They key going forward is the Trump Administration’s ability to turn its pro-business campaign rhetoric into reality.
Wholesale prices of used vehicles up to eight years in age fell by 1.2% in August. Over the past five years, however, losses for the period averaged a more significant 2.2%.
Sentiment speaks to recent auto finance data showing prime and superprime car buyers shifting toward used, where the average monthly payment was $139 less than the record $504 average monthly payment for new in the second quarter.
The price of cars dropped 1.8%, while trucks recorded a 0.8% decline in value for the month of June. Small pickups registered the lowest monthly depreciation, while subcompact cars recorded the largest depreciation in June.
Premier Chevrolet Buick GMC was selected to be the first dealership in West Virginia able to certify its pre-owned vehicles with the exclusive Motor Trend Certified designation. The dealership began selling Motor Trend Certified vehicles in May.
Industry Summit will once again play host to the Special Finance Conference, the industry’s premier SF training event.
The company’s AVH-3300NEX offers a motorized touchscreen display that's seven inches wide and two inches tall, making it an easy installation on older and collectible vehicles. And like the other four models, it offers audiophile-grade sound features, Bluetooth connectivity, and is compatible with Apple CarPlay and Android Auto.
Average wholesale used-vehicle prices reached $11,141 in April, a 2.2% increase from March and a 2.5% increase from a year ago, Tom Kontos reported. The only three segments registering declines were compact, mid-size, and luxury cars.
The new offering places two years of unlimited mileage warranty coverage on the hoods of all vehicles sold under the Officine Maserati Certified Pre-Owned program. Buyers also get a free three-month trial of SiriusXM.
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