To: All Licensed Motor Vehicle Damage Appraisers, Insurance Companies, and Interested Parties From: North Carolina Department of Insurance – Agent Services Division Date: April 9, 2020 RE: New Rules for Licensed Motor Vehicle Damage Appraisers During the Rules Review Commission’s meeting on March 19, 2020, the following new rules were
Large Pickup Trucks Sales Least Effected by Covid While most dealers in US are experiencing sale declines as high as 80% in in the second half of March 2020, large pickup truck sales remained flat in the South dropped only 29% in the northeast. Reasons for the low decline in
US Car Dealer Rankings for 2019 Top 20 Car Dealers with the Most Increase in the Number of Stores – 2019. Dealership group Number of dealerships – 2019 Number of dealerships – 2018 Store Increase Percent Increase 1 Ciocca Dealerships 20 14 6 42.9% 2 Kahlig Auto Group
Car Prices Drop 4% at Auction
Spring is usually the high season when it comes to car sales. Dealers, anticipating tax refund checks stock up on inventory.
The early March week to week price index was as high as 1.25% signaling the beginning of the Spring car season. This is a stark contrast the the late March/early April price index of -2.5% which is almost a 4% swing in prices.
4% might not seem that high on first glance, however if this trend continues, car prices are set to drop around 15% by mid-May.
COVID-19 Operations Update as of March 25, 2020 Due to ongoing public health concerns and the safety of all involved, Manheim is making operational and policy changes to address the changing conditions in various locations. In the event that a Manheim auction or offsite location (i.e. dealership or storage location)
AFC Dealer Changes Lending Terms March 2020 Dealers logging in to the AFC website are being prompted to agree to new lending terms. Below is the message received. AFC account access is blocked until the terms are agreed on. “ Change Notices Attention! Changes to certain terms and conditions
Georgia Motor Vehicle Division Extension of Motor Vehicle Registrations Due to concerns regarding COVID-19, the Georgia Motor Vehicle Division (MVD) is extending all motor vehicle registrations that expire between March 16, 2020, and May 14, 2020. Those registrations are extended through May 15, 2020. This extension applies to personal passenger
US Auto Inventory & Day Supply for March 2020 Day Supply February Day Supply March Inventory Units American Honda 88 83 381,400 Hyundai Kia 72 62 256,300 Mazda N.A. 58 57 61,900 Mitsubishi Motors 77 55 33,000 Subaru America 35 37 73,400 Toyota
TradeRev Closing Removed – Auctions will have Visible Timers
Effective March 25, 2020, the closing category in the TradeRev car dealer buying app will be removed and replaced with visible timers same as regular auction sites like Ebay.
Below is an email sent to all Traderev dealers on March 24th announcing the change.
Traderev email on 03/24/2020
“The final farewell to the Closing period is here. Tomorrow, we’ll say goodbye to Closing and say hello to visible auction timers and a new web search bar. Check out more below.
No More Closing
A win’s a win. Starting tomorrow, there’ll no longer be a second round of bidding once the 45-minute auction is over.
Auction Countdowns
With a visible auction timer, you can see how much time is on every single trade, so you never miss out on a bid. We’ll also add an extra minute to the auction each time a bid is placed in the last 3 minutes. That way no one can swoop in on your trade with a last-minute bid.
Web Search
Find the trades that matter to you most. Simply enter vehicle details like the year, model or make and the exact matches will appear followed by other similar trades in a separate section.
To enable this update, you’ll automatically be logged out tomorrow. Simply sign back in and enjoy the new features.”
TradeRev is owned by KAR Global and located at 36 South Pennsylvania Street, 7th Floor Indianapolis, IN 46204.
Classic Ford Mustang Price Decline Q1 2020 After seeing steady increases through the last decade, the price of classic or collector Ford Mustangs (Generations 1 and 2 as well as Shelbys) is on the decline. The COVID19 virus has adversely affected the classic and collector car market with a cash
Question: Can a Business be a Plaintiff Pro-Se in a Georgia Magistrate Court or Does it Need a Lawyer? Answer: Yes, a Business can sue someone in small claims court without the need to hire a lawyer. There are millions of small businesses in the US, most of which are
Auto Listing Sites Revenue Annual revenue in millions for some top four 3rd-party vehicle listing marketplaces. Top 4 Car Listing Companies by Revenue: Autotrader Cars.com CarGurus True Car Top 4 Car Listing Companies Yearly Revenue 2017 – 2019 ($Million) 2017 2018 +/- 2019 +/- Autotrader 1093 975 -12.1% 875 -11.4%
eorgia School Bus Stop Arm Violation- Code §40-6-163. Unlawfully passing a school bus results in the highest point assessment on a Georgia Driver’s License. Duty of driver of vehicle meeting or overtaking school bus; reporting of violations
(a) Except as provided in subsection (b) of this Code section, the driver of a vehicle meeting or overtaking from either direction any school bus stopped on the highway shall stop before reaching such school bus when there are in operation on the school bus the visual signals as specified in Code Sections 40-8-111 and 40-8-115, and such driver shall not proceed until the school bus resumes motion or the visual signals are no longer actuated.(b) The driver of a vehicle upon a highway with separate roadways or a divided highway, including, but not limited to, a highway divided by a turn lane, need not stop upon meeting or passing a school bus which is on a different roadway or on another half of a divided highway, or upon a controlled access highway when the school bus is stopped in a loading zone which is a part of or adjacent to such highway and where pedestrians are not permitted to cross the roadway.
O.C.G.A. § 40-6-163
Auction Access now Charges $99 per User Starting January 2020, AuctionAccess will start charging $99 per user for a service that was free for 20 years. Being a monopoly on dealer auction credentialing, AuctionAccess (owned by AutoTec, LLC in Birmingham AL) is now extorting dealers for a fee that usually
TradeRev BuyNow Feature Updated
Last week TradeRev made changes to Buy Now to streamline sales for both Buyers and Sellers.
Here’s what happened:
No more offers on Buy Now. Every vehicle will be available for the visible floor price. Before this, buyers had to put an offer on buy-it-now inventory and that was annoying and pointless.
Floor price is now the Buy Now Price. Vehicles with a floor price that are not sold at the standard auction will automatically be listed in Buy Now for a second chance to sell.
Sellers Must Opt into Buy Now. If seller want their vehicles to automatically move into Buy Now in the event of a no-sale, they must ensure that option is enabled in their Settings.
The floor price input is now in the Overview section on web and the Overview page on mobile.
Buyers must update their mobile app to TradeRev 4.30.
States Ranked by Worst Drivers, Most Fatal Collisions Per Miles Driven. Car Accidents List State Number of drivers involved in fatal collisions per billion miles Rank Score Percentage Of Drivers Involved In Fatal Collisions Who Were Speeding # of Drivers Rank Score Percentage Of Drivers Involved In Fatal Collisions Who Were Alcohol-Impaired # of drivers Rank Score Winners
Below is a table outlining the number of employees in the U.S. motor vehicle and parts dealer industry from 2007 to 2018. Year Employees x 1,000 Y/Y Change 2007 1,911 2008 1,871 -2.1% 2009 1,634 -12.7% 2010 1,625 -0.6% 2011 1,685 3.7% 2012 1,730 2.7% 2013 1,782 3.0% 2014 1,851
Georgia Magistrates Council Forms. Magistrate Court is often called Small Claims Court. This court helps regular citizens represent themselves (pro-se), without an attorney, in cases against other individuals or companies.
New Car Day Supply January 2020
What is “Day Supply”: If a car dealer stops receiving new inventory, the day supply is the number of days it will take (at the current rate of sale) for the dealer to run out of vehicles.
The lower the day supply number the healthier the dealer is as inventory is turning quickly.
Car Makers with the shortest Day Supply (good):
Subaru, 21 days
BMW, 34 days
Kia, 34 days
Audi, 36 days
Lexus, 37 days
Car Makers with the longest Day Supply (bad):
Fiat, 214 days
VW, 117 days
Mini, 103 days
Jeep, 94 days
Mitsubishi, 84 days
Day Supply 5-year Chart
Year Day Supply
2016 61
2017 63
2018 61
2019 62
2020 58
Day Supply: Domestics vs. Imports
January 2020 January 2019
US Car Makers 67 82
European Car Makers 52 62
Japanese Car Makers 52 62
Korean Car Makers 47 52
Auto Industry 58 69
List of the top 10 vehicles appraised for Diminished Value for 2019.
Rank Make Model Percentage Count
1 Toyota Camry 4.86% 521
2 Ford F150 2.96% 317
3 Honda Accord 2.73% 292
4 Toyota Corolla 2.58% 276
5 Honda Odyssey 2.46% 264
6 Nissan Altima 2.39% 256
7 Toyota Sienna 2.15% 230
8 Chevy Malibu 1.67% 179
9 Dodge Ram 1.43% 153
10 BMW 3-Series 1.29% 138
Other Vehicles 75.48% 8,085
Would you rather collect 80% of an accurate appraisal or 20% of an inflated one?
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Insurance companies know who the legitimate appraisers are, so don't get caught up in the estimate game. Hire an appraiser based on their credentials and reputation.
Seven things to look for when choosing an appraisal company
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