J.D. Power: Wholesale Prices Decline in June
June wholesale prices for used vehicles up to eight years in age fell by an average of 0.9% compared to May. Losses at the segment level were less than historic norms across the board on both the mainstream and premium sides of the market, the firm said.
Black Book Becomes Valuation Partner for MYEV.com
With today’s announcement, Black Book valuation data will be integrated with all EVs listed in the MYEV.com system, which will help buyers and sellers ensure they’re reviewing the most accurate and up-to-date valuations within the market.
CDK Global to Acquire ELEAD1ONE
The deal was first reported on Sunday by The Banks Report, which described the pending acquisition as checking off 'several boxes for CDK while filling a big product hole — a viable integrated CRM platform with significant market share.'
LotMonkey Expands Into Four New Markets
The company’s web-based merchandising platform is now available in Philadelphia, Louisville, Ky., Long Island, N.Y., and northern New Jersey. It allows dealers to instantly create and customize an infinite array of point-of-sale visuals.
Edmunds: Stage Set for Market Contraction
June’s annual percentage rate of 5.82% marked a 17% increase since January 2018. Add rising rates to a virtually saturated U.S. market, record-high vehicle prices, and historically high numbers of people who owe more than their cars are worth, and the stage is set for a market contraction, the firm said.