November Wholesale Price Declines Don’t Stump Kontos, ACV Lands $93 Million Series D Funding Round, Dodge Viper Superleggera, 1991 LuAZ 969M, 1984 Porsche 911 SC

If you’re stumped by the recent wholesale price decline, KAR Auction Services Chief Economist Tom Kontos is offering an explanation. That’s our first story; then we’ll learn more about ACV Auctions’ announcement of its $93 million Series D funding round.

After that, we’ll dive into the Dodge Viper Superleggera, 1991 LuAZ and the new Porsche favorite, the 1984 911 SC.

Ready?

November Wholesale Price Declines Don’t Stump Kontos

Following steep wholesale price declines, KAR Auction Services Chief Economist Tom Kontos is here to offer an explanation.

According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by class, a notable price decline of 4.2 percent was seen since October, which is a 1.8 percent drop from November of last year.

“Average wholesale prices in November softened on a year-over-year basis in part from comparison to last year’s inflated prices from Hurricanes Harvey and Irma,” Kontos said in the most recent edition of Kontos Kommentary.

He also went on to say that the market conditions are weaker, and when holding constant for the criteria that are used for off-lease units, the prices are up on year-over-year basis for midsize cars and midsize SUV/CUVs. In fact, these specific cars saw a price spike.

See a full breakdown of used car pricing here:

https://www.autoremarketing.com/wholesale/november-wholesale-price-declines-dont-stump-kontos

ACV Lands $93 Million Series D Funding Round

Online dealer-to-dealer wholesale marketplace ACV Auctions recently announced a $93 million Series D funding round, which brings its total funding since 2015 to over $145 million.

This gives ACV the ability to “double down on product and engineering, expand the breadth of its platform, and provide new real-time data analytics to dealers,” stated the company in a news release. It can also continue its nationwide expansion to include over 140 territories in 2019.

ACV Auctions has earned the reputation as a trusted, transparent digital marketplace for buying and selling wholesale inventory. With this additional funding, ACV Auctions can fuel its growth and reach an even larger market to help dealers.

Learn more about this story here:

https://www.autoremarketing.com/wholesale/acv-lands-93-million-series-d-funding-round

Dodge Viper Superleggera

As the saying goes, if something is too good to be true, it probably is.

That’s certainly the case with this 2008 Dodge Viper “Superleggera” listed on eBay that boasts 600 horsepower and a six-speed manual transmission.

The unit is apparently missing the hood, roof, and trunk, has improperly installed panels, and a rear end that locks up periodically. It’s also without a windshield, and it flashes a number of PO codes from the check engine light.

And it’s a rebuilt salvage. It’s starting at only $25 though, so there’s that.

Take a look:

https://jalopnik.com/i-should-run-from-this-dodge-viper-superleggera-right-1831347625

1991 LuAZ 969M

The LuAZ is a quirky vehicle that arose from the Soviet automotive industry. The 969 began in the 1960s as a product of the Ukrainian automaker ZAZ. LuAZ began in 1971 and worked through several iterations before landing on this design.

There’s a particular vehicle listed on Craigslist from a seller in Wilmington, North Carolina, for $8,990. Apparently, the only other models exist in North Carolina, Washington State, and Massachusetts, but that’s it.

It’s a pretty rare vehicle, but there may be good reason for that. Its top speed is a mere 60 mph, and you would need to hunt down parts that you would then need to speak Russian fluently to install. This particular model has mustard-yellow paint, several chips, surface rust, and some other imperfections, as well as BMW M badging and 14-inch Mitsubishi wheels.

Still, it’s kinda cool.

https://jalopnik.com/at-8-990-will-this-1991-luaz-969m-give-you-the-lolz-1831319323

Is the 1984 Porsche 911 SC the New Favorite?

The Rally Belga team’s 1984 Porsche 911 SC is a build that turns an awkward 911 period into a powerhouse.

As the announcer in this vehicle’s video says, it’s in the age of “Group B,” when dedicated all-wheel-drive rally supercars were hitting the stages. By comparison, the 911 is a little low-tech and old-fashioned.

Despite that, it still took a number of podiums across Europe in the series below the WRC, and it looks like a blast.

Check it out:

https://jalopnik.com/i-have-a-new-favorite-porsche-1831338881

So, what are your thoughts about the wholesale price decline? Are you looking forward to ACV Auctions expanding their market? Do you want the Superleggera or the LuAZ? And finally, how cool is the old-school Porsche 911 making its way across the track?

Let’s hear it in the comments!

High New Prices Send Consumers Toward Used, 4-Month Record Streak in Wholesale Car Price Index Ends, Rare Volkswagen Prototype Spotted in South Africa, Military Jeep Hoods Used to Repair a Ceiling After WWII

With average new models above $37,000, consumers are moving toward used models, which is our first story. Then, we’ll check out the wholesale car price index and the end of its four-month record streak.

We’ll also learn more about the South African driver with a rare Volkswagen prototype and the military Jeep hoods used to repair a ceiling after World War II.

Ready?

Average New Model Pricing Above $37,000, Sending Consumers Toward Used Vehicles

Data obtained from the Hearst family of companies showed that consumers are continuing to shift their interest in the direction of used vehicles, due to the high prices of new models. Still, Cox Automotive’s collection of experts reiterated that manufacturers are continuing to pump out new vehicles and using incentives and other specials to get the sale.

Kelley Blue Book found the average new vehicle retail to be $37,654, which is a 4-percent lift year-over-year. The monthly payments are higher as well, for both new and used, at $530 and $381, respectively. That gap is wide, and continues to widen, which is the motivation in consumers choosing used vehicles.

Used vehicles also have features that can compete with new models, which makes buying used a more appealing option than it was in the past.

“There are many choices of gently used vehicles with exceptional value, especially in the sedan categories, as a result of the rising off-lease volume over the last few years,” said Anil Goyal, executive vice president of operations for Black Book.

Learn more about this story here:

https://www.autoremarketing.com/trends/average-new-models-above-37000-consumers-continue-migration-toward-used

4-Month Record Streak in Wholesale Car Price Index Ends

After four straight record months in Manheim Used Vehicle Value Index, used-car prices began to ease in November, falling a total of 1.32 percent from October.

Last month also displayed “continued normalizing depreciation,” based on trends spotted by Manheim Market Report prices.

“Three-year-old vehicles ended the month worth 2.7 percent more than they would normally have been worth had typical depreciation occurred instead of the abnormal appreciation observed this summer,” Manheim said in the analysis.

Get more details about these numbers here:

https://www.autoremarketing.com/wholesale/4-month-record-streak-wholesale-car-price-index-ends

Someone in South Africa Is Daily-Driving a Crazy, Rare Volkswagen Prototype

Little-known Volkswagen prototypes from the past are hidden gems, but there’s someone in South Africa using one as a daily driver like it’s no big deal.

For a little background, Volkswagen of South Africa was doing R & D to develop another version of the Beetle in the 1970s. Their development was an SUV-like rectilinear vehicle known as Project 1021. It used a Beetle chassis and standard Beetle engine at the rear, but it looked more like a front-engine SUV or a Jeep.

After only a few prototypes, the program ended in the late ‘70s. These prototypes are nearly impossible to find, but there is one 1021 model that was spotted in the small town of Knysa, South Africa.

We have so many questions.

Check out the photos and specs here:

https://jalopnik.com/theres-someone-in-south-africa-daily-driving-a-crazy-ra-1831082972

Germans Discover Military Jeep Hoods Used to Repair a Ceiling After World War II

Much of Germany needed rebuilding after WWII, including the small city of Bonn. Materials were scarce, so the owner of one building used junked army Jeep hoods to repair a ceiling.

These hoods were just recently discovered and originally thought to be from aircraft, which prompted a call to a member of an air force history group that works with scientific institutions. After checking the materials, he immediately recognized them as Jeep hoods and not plane parts, which had an incredible history all their own.

For example, one hood was from Willys MB models built in Toledo and delivered to the army in August 1943. It also has an “S” at the end of the registration number, which stands for suppressed and means it was built with extra components to prevent radio interference. It was likely used in the battle of Normandy.

Learn more about the fascinating history of these Jeep hoods here:

https://jalopnik.com/germans-discover-military-jeep-hoods-used-to-repair-a-c-1831021112

So, what do you think about consumer interest in used cars over new? Have you noticed a change in wholesale pricing? What questions do you have about the Volkswagen prototype? And finally, what are your thoughts on the WWII Jeep hoods?

Let’s hear it in the comments!

Vehicle Depreciation in Normal Seasonal Pattern, Black Book Index Climbs, New Le Mans Prototype Rule Book, Antidote to Oversized, Angry Pickups

As we head into winter, the used-car market settles into its normal depreciation patterns, which is our first story. Then, we’ll take a look at the Black Book index climbs in recent months.

After that, we’ll see the new Le Mans prototype and its “spec racer” appeal, as well as the antidote to oversized, angry pickup trucks. Hint — it’s found on Craigslist, and it’s strange.

Ready?

Vehicle Depreciation Begins Normal Seasonal Pattern

The used-car market is settling into its “normal depreciation patterns,” according to Black Book analysis. This is expected to continue, and even increase, in 2019.

Used vehicles in model years 2013 to 2017 saw a price drop of 1.9 percent in October, on average, which is a significant decrease since January. This followed a static September, when many vehicles saw increases or consistent value.

Black Book Executive Vice President of Operations Anil Goyal recently said, “Increasing interest rates, potentially higher incentives on new vehicles and rising used supply levels, particularly in the compact SUV segment, will be key factors driving the trend in 2019.”

Learn more here:

https://www.autoremarketing.com/wholesale/vehicle-depreciation-begins-normal-seasonal-pattern

Black Book Index Climbs for 7th Consecutive Month

Black Book’s representatives watching a sale in California as November closed noticed that “the most common complaint from the dealers was the continued high prices paid to secure inventory.”

Black Book’s Used Vehicle Retention Index supported that claim, climbing for the seventh month in a row. The November reading was 116.5, which is an increase of 0.2 percent.

Cars and sedans outperform truck segments in the index as well, with many used car models offering affordability and value for shoppers. Still, we’re into December, which is when many aggressive deals are offered to hit year-end sales goals.

See a breakdown of the highest month-over-month segment gains here:

https://www.autoremarketing.com/wholesale/black-book-index-climbs-7th-consecutive-month

New Le Mans Prototype Rule Book Looks More Like a Spec Racer

Le Mans LMP1 is dying out, due to a loss of Audi and Porsche and the lack of any other real competition. But, in an effort to revive it, the FIA announced a new 2020 rulebook, which will allow for changes to the LMP1 class.

Le Mans prototypes are expected to reflect a road supercar design, as well as hybrid engines and an upper limit on power deployment. As a result, Le Mans contenders will be limited to 27 horsepower less than the Hellcat.

Rumor has it that BMW, Toyota, Aston Martin, Ferrari and Ford are all involved in the new regulations, so we may be looking at hypercar-looking racers in the near future.

Learn more here:

https://jalopnik.com/the-new-le-mans-prototype-rule-book-looks-more-like-spe-1830894410

The Antidote to Oversized, Angry Pickup Trucks Is on Craigslist, and It’s Weird

Modern trucks are getting meaner and crazier each year, which is what makes this tiny truck on Craigslist so weird.

A listing for a 1962 VW Beetle short-bed truck recently popped up in Orem, Washington, complete with the rear of a stumpy truck bed, a 1600cc engine and a useless grille from some random Mercedes vehicle. The interior is refurbished and quite nice, however, and it has a similar charm to the 1960s Beetle it came from.

It’s also super cheap. Take a look:

https://jalopnik.com/the-antidote-to-oversized-angry-pickup-trucks-is-on-cr-1830891399

So, what do you think of the depreciation pattern? Are you expecting to see more inventory as December comes to a close? What do you think of the new Le Mans rulebook? And finally, are you as charmed by the Beetle short-bed truck as we are?

Let’s hear it in the comments!