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Manheim Index Reaches Record High in June

It was the second consecutive month that Manheim Used Vehicle Value Index reached a record high. Officials said strong retail demand for recent model-year used vehicles is encouraging dealers to buy more vehicles at auction, and the increased demand is more than offsetting the high supply.

VW Credit Invests in AutoGravity

With its announced investment, Volkswagen’s captive finance company joins the automotive fintech firm’s mobile car shopping and financing platform. VW Credit also launched its own AutoGravity-powered smartphone app.

New-Car Transaction Prices Grow Less than 2% in June

Transaction prices grew slower than usual for the month of June, rising 1.5% from a year ago to $34,442. Transaction prices for popular categories like full-size trucks and mid-size cars were flat, while the average for a compact SUV rose only 1%.