Auction leaders also said closely examining which locations to overhaul is necessary.
EVs are scarce in some regions of the US, especially areas where charging infrastructure is not built out or where municipalities haven’t addressed equipping power grids to handle that technology, they said. An auction in a particularly hot or cold region could see its operation disrupted if temperatures fluctuate enough to inhibit EV battery performance.
Companies like Manheim, ADESA and America’s Group have a lot of space that can hold EVs for charging. For Manheim’s Huang, whether the grids can service all those EVs is a major unanswered question. Utilities in certain regions are forward-thinking about EVs, she said, while others are not.
“It’s a bit all over the board,” Huang said.
To ease into the EV shift, some wholesalers are considering outsourcing the overhaul of auction house infrastructure, standards and processes. Manheim works with “several different vendors”
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Transferring a vehicle’s title to a new owner begins with a check with the Department of Motor Vehicles (DMV). During this process, the DMV will determine whether the vehicle has any liens against it. If there are liens, they must be paid off before the title is transferred.
Title Transfer
Electronic vehicle title transfer allows sellers and buyers to transfer ownership of a vehicle electronically. To make the process simpler and less complicated, you can choose to ask for help from tag and title services. Using a secure online system, qualified sellers and buyers can complete the entire transaction without visiting an MVD office. However, this process has some limitations, such as the number of qualified vehicles. In addition, the electronic transfer does not use a paper title. Instead, a digital copy of the title is kept in a secure online database.
US light-vehicle sales remain in lower gear as the third quarter winds down, while slumping consumer sentiment threatens a further downshift.
Cox Automotive on Wednesday cut its full-year new-vehicle sales outlook to 13.7 million — down more than 9 percent from 2021 and the industry’s lowest tally in a decade.
It’s the third time this year Cox has lowered its sales forecast, which initially stood at 16 million vehicles.
Most automakers are expected to release third-quarter US sales results on Monday and Tuesday.
Charlie Chesbrough, Cox Automotive senior economist, said COVID-related production disruptions and the war in Ukraine scuttled the anticipated improvement in inventories at the start of the year.
Now the industry faces a new wrinkle.
“It seems likely that much of the pent-up demand from limited supply is quickly disappearing as high interest rates eat away at vehicle buyers’ willingness and ability to purchase,” Chesbrough said.
Cars are no longer a luxury item, in fact it has become a necessity for some people. Owning a four-wheeled vehicle is also now easier, a variety of car loan offers are very easy to find. Both banks and leasing offer benefits such as reduced down payments, installments, and low interest rates.
Buying a car on credit is the choice of many people. With these various advantages, buying a vehicle on credit is more of an option. In fact, buying a car in cash at a number of dealers can still be counted on the fingers.
Here are 4 things to consider in order to stay profitable when choosing a vehicle installment:
Choose a new or used car
Even though it’s a used car, that doesn’t mean it’s not new. Don’t force buying a new car if you don’t have enough finances. A number of used cars and even the …
Keeping a car in proper working order is a significant commitment and one that requires a fair bit of knowledge. Unfortunately, not everyone who owns a car understands how best to ensure proper auto repair when problems arise. Read the tips and advice that follow below, and you will be ready for any eventuality. Your car will surely thank you.
If any parts of your car need to be replaced, make sure you ask for the (OEM) Original Equipment Manufacturer parts instead of generic parts. Keeping the exact specifications required by the manufacturer is essential in having optimum performance. Although generic parts are cheaper, spending a little more on OEM parts will make a big impact on your car’s longevity.
Every time your car is repaired, no matter why it is, keep a record of the repair. If you have problems with your vehicle later on, you will find it …
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Mullen Automotive (NASDAQ: MULN), an emerging electric vehicle (“EV”) manufacturer, announced an upcoming version of its Mullen Five crossover that delivers a performance “to rival Plaid versions of Tesla’s Model S and Model X.” The Mullen Five was originally meant to compete against Tesla’s Model Y and Volkswagen ID.4, but the new version features more than 1,000 horsepower and the ability to go from 0 to 60 in under 2 seconds with a top speed of more than 200 mph; the new model also features an 800-volt electrical system, enabling rapid charge times when using a DC fast charger. The FIVE RS will be manufactured in MULN’s Tunica, Mississippi,
“Anybody that’s dealing with electric cars right now is getting a lot of questions about the battery, and making folks feel comfortable about the battery health is really important to selling them,” ADESA President John Hammer told Automotive News. Since adding the feature, ADESA has seen a 7 to 9 percent lift in conversion — when cars offered in auction channels actually sell — on vehicles with Range Score badging compared with similar vehicles that don’t have it, Hammer said. ADASA did not disclose when it started using the badging and gathering that data.
“The other thing that we’ve seen is a lift in the prices that we get for them,” Hammer said. “We’re seeing $4,000 to $7,000 increases.”
Developing a more comprehensive battery health diagnostic tool is also a priority for Manheim, the largest US vehicle auction company.
It is working on that with Spiers New Technologies, a battery
Dealer Clay Cooley grew his group’s presence in the Dallas-Fort Worth area in Texas with the June 27 addition of his third Hyundai dealership, one of more than 10 dealerships in his portfolio, according to DCG Acquisitions, a Dave Cantin Group company, which facilitated the transactions.
“It’s a strategic acquisition,” George Pero, vice president of sales for DCG Acquisitions, said in a phone interview. Pero, along with Brian O’Malley, a managing director with the company, worked on the deal.
“Pretty much all their dealerships are within driving distance,” Pero said of Clay Cooley Auto Group, of Irving, Texas. “This purchase expands their existing footprint.”
In November, the group bought a standalone Cadillac dealership in Garland, Texas.
The June acquisition, formerly known as Bob Stallings Hyundai in Dallas, was renamed Clay Cooley Hyundai of Dallas.
The dealership is a past Automotive News Best Dealerships To Work
Simply yesterday, I acquired to expertise one in all life’s largest joys–the delivery of my first model new automobile in 18 years. Archuleta was charged with alleged car theft and eluding police, in line with the Albuquerque Journal. The Huffington Put up gathered names, causes of loss of life, dates of arrest and loss of life, and different knowledge for more than 800 people who died in jails and police lockups in the year following Sandra Bland’s loss of life on July 13, 2015. Within days, Harvey had recruited some 50 people to pony up $20 every, for a total of $1,000, sufficient to purchase 500 Money WinFall tickets for the February 7 roll-down drawing. The Patriots gained the Tremendous Bowl on February 6, and the next day, the MIT group took dwelling $three,000, for a $2,000 revenue.
He had been arrested for allegedly stealing $5 worth of snacks, in …
Keeping a car in proper working order is a significant commitment and one that requires a fair bit of knowledge. Unfortunately, not everyone who owns a car understands how best to ensure proper auto repair when problems arise. Read the tips and advice that follow below, and you will be ready for any eventuality. Your car will surely thank you.
Simply yesterday, I acquired to expertise one in all life’s largest joys–the delivery of my first model new automobile in 18 years. Archuleta was charged with alleged car theft and eluding police, in line with the Albuquerque Journal. The Huffington Put up gathered names, causes of loss of life, dates of arrest and loss of life, and different knowledge for more than 800 people who died in jails and police lockups in the year following Sandra Bland’s loss of life on July 13, 2015. Within days, Harvey had recruited some 50 people to pony up $20 every, for a total of $1,000, sufficient to purchase 500 Money WinFall tickets for the February 7 roll-down drawing. The Patriots gained the Tremendous Bowl on February 6, and the next day, the MIT group took dwelling $three,000, for a $2,000 revenue.