Category: Automotive

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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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.

Edmunds on

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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