March 31, 2020—On Tuesday, the Automotive Service Association hosted a webinar on how to effectively handle the trickle-down effect of the COVID-19 outbreak as a small business owner.
March 31, 2020—On Tuesday, the Automotive Service Association hosted a webinar on how to effectively handle the trickle-down effect of the COVID-19 outbreak as a small business owner.
Average wholesale used vehicle market prices registered their first year-over-year price decline since August 2014, continuing the general softening pattern seen since the impact of the hurricanes waned in late 2017. Retail used vehicle sales, including CPO sales, were strong, reflecting Spring, tax-season demand.
The initial average appraisal value, calculated by combining data from all first and third-party repairable vehicle appraisals uploaded through Mitchell systems in Q1 2018, was $3,166, $124 more than this same period last year. Continued development suggests a final Q1 2018 average appraisal value of $3,196
The chart below illustrates the total loss data for both vehicle age and actual cash value of total loss vehicles processed through Mitchell servers.
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