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Wholesale used-vehicle prices climb in July

July’s used-vehicle prices on the wholesale market increased 2.6% year over year, pushing the Manheim Used-Vehicle Value Index to 140.5. Comparatively, July 2018 saw an abnormal increase in both prices and sales volume due to tariff concerns, making comparison to last year “particularly tough,” the report notes. While July usually sees a 1% decline in […]

Decline in Used-Vehicle Inventory Dampens Dealer Sentiment

Used-car sales – a driver behind recent market strength – may slow as used-vehicle inventories shrink, according to Cox Automotive’s second-quarter Dealer Sentiment Index report published last week. “If market strength is being driven by used vehicles, can used-vehicle sales remain strong considering declining inventory?” Cox Auto Chief Economist Jonathan Smoke said in a statement. […]

Ally Boosts Used Financing to Offset Lower New-Car Sales

Ally Financial Inc. originated $9.2 billion of loans and leases last quarter — a 3.3% year-over-year decline — with used-car originations accounting for 56% of the volume, the company reported in its earnings release. Used originations accounted for 50% of the volume in the prior-year period. Ally originated $5.2 billion of used-car loans last quarter, which reflects […]