Author: News/Media Release
The independent accounting firm LSWG of Frederick, Maryland, conducted the 2024 NAAA Auction Industry Survey for the National Auto Auction Association.Photo: NAAA / Automotive Fleet National Auto Auction Association (NAAA) member auctions reported nearly 7.6 million vehicles sold in 2024, representing the best sales volume for the industry since 2020.Greater than 12 million vehicles were offered on the market at NAAA member auctions, leading to a 61.3% conversion rate. That percentage was an improvement over 2023 and was the second-highest conversion rate ever reported. The typical wholesale price of units sold was $13,921, down 5% from 2023. Although vehicle prices…
Over the past yr, Hyundai has gained essentially the most days’ supply, up 38 days yearly, while Jeep and Ram have dropped essentially the most, down 54 and 56 days, respectively. With a warmer sales pace in February, new-vehicle days’ supply dropped to 89 days, a ten% decrease in comparison with the beginning of February, in keeping with vAuto Live Market View data released March 13. While concerns about future price increases could also be driving more customers to the showroom, uncertainties in policy changes are creating challenges for automakers as they await further information. Over the past yr, Hyundai has…
Major market segments saw mixed trends for seasonally adjusted prices 12 months over 12 months in February. Wholesale used-vehicle prices (on a mixture, mileage, and seasonally adjusted basis) were lower in February in comparison with January, in line with the newest numbers from Cox Automotive.The Manheim Used Vehicle Value Index (MUVVI) decreased to 204.1, reflecting a 0.1% increase from a 12 months ago. The seasonal adjustment drove the monthly move, as non-seasonally adjusted values rose. The non-adjusted price in February increased by 1.4% in comparison with January, moving the unadjusted average price up 0.8% 12 months over 12 months.“With gray…
Th 2025-2026 board comprises fleet professionals from various industries, including corporate, public safety, technology, education, and more. NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, recently announced its newly elected 2025-2026 Board of Directors.This 12 months’s board comprises fleet professionals from various industries, including corporate, public safety, technology, education, and more. Together, they may lead the association through the upcoming 12 months, advancing NAFA’s mission to support and elevate fleet professionals across the globe.“As the brand new president of NAFA’s Board of Directors, I’m excited to guide this talented group of execs as we construct on the strategic initiatives we’ve…
The highest five selling latest EV models, ranked by sales volume, were the Tesla Model Y, Model 3, Volkswagen ID.4, Tesla Cybertruck, and Honda Prologue, making up 54% of total EV sales for the month. The electrical vehicle market thrived across latest and used segments in January with robust sales and pricing amid declining days’ supply.Propelled by continuing consumer interest, the used EV market grew, driven by affordability and more model options. Days’ supply and average transaction prices (ATPs) further highlighted the shifting landscape of the EV market.EV Sales Up at a Healthy ClipLatest EV Sales: In January, latest electric vehicle…
Major market segments saw mixed trends for seasonally adjusted prices yr over yr in January. Wholesale used-vehicle prices (on a combination, mileage, and seasonally adjusted basis) moved 0.4% higher in January in comparison with December, causing the Manheim Used Vehicle Value Index (MUVVI) to extend to 205.6, a gain of 0.8% from a yr ago. The index’s seasonal adjustment muted the month’s movement, as non-seasonally adjusted values rose faster than seasonally adjusted values. The non-adjusted price in January increased by 0.6% in comparison with December, moving the unadjusted average price up 1.1% yr over yr.“While it’s not yet spring, wholesale values…
Verizon Connect’s Prolonged View Cameras expand its Integrated Video platform, featuring 4 additional cameras and an in-cab monitor. Verizon Connect recently launched its recent Prolonged View Cameras and Driver Vehicle Inspection Report (DVIR) to boost industrial fleet safety, driver performance, and operational efficiency.The Prolonged View Cameras deliver near-360-degree visibility with rear, side, and cargo cameras. The customizable Driver Vehicle Inspection Report (DVIR) goals to simplify compliance and maintenance through Verizon Connect’s Reveal platform.These recent options have the potential to supply fleet managers with advanced tools to guard their vehicles, enhance driver safety, and improve community road security.Prolonged View Cameras: Enhancing…
This was the official internal notice sent to the staff of America’s Group and AuctionVcommerce announcing the deal on Jan. 17, 2025.Graphic: AuctionVcommerce America’s Group acquired AuctionVcommerce (AVC), an modern technology platform for auto auctions, in a deal announced Jan. 17.With this strategic acquisition, America’s Auto Auction will integrate AVC’s platform to reinforce operations and supply a streamlined auction experience for its dealer network. This integration will enable dealers to more efficiently access a myriad of auction tools and services.AuctionVcommerce is an all-in-one platform created to rework how dealers interact with auctions. Designed as a centralized hub, it connects dealers to…
Fellows are chosen based on their demonstrated leadership, contribution to the industry, and evidence of strategic pondering and innovation. Photo: NAFA/Automotive Fleet NAFA is rolling out a brand new program to honor distinguished fleet professionals who’ve made major contributions to the fleet industry and to NAFA itself.Applications are actually open for the NAFA Fellows Program.“NAFA Fellows are individuals who’ve demonstrated extraordinary leadership and a long-standing commitment to the advancement of the fleet industry,” NAFA CEO Bill Schankel, CAE said. “This program not only acknowledges their accomplishments but in addition ensures their continued impact in shaping the longer term of fleet management…
All major market segments experienced seasonally adjusted prices that were down yr over yr in December, though the declines have been mitigated in recent months. Wholesale used-vehicle prices (on a combination, mileage, and seasonally adjusted basis) were lower in December in comparison with November, in keeping with the Manheim Used Vehicle Value Index (MUVVI) released Jan. 8.The index fell to 204.8, a rise of 0.4% from a yr ago. The seasonal adjustment reduced the change for the month, as non-seasonally adjusted values declined at a better rate. The non-adjusted price in December decreased by 0.8% in comparison with November, increasing…
