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The company retailed a total of 240,950 used vehicles in the quarter ending May 31, down 11 percent from the same time last year. Comparable store used-vehicle sales also fell 12.7 percent.
The used-vehicle consignment company, in announcing the move this week, blamed vehicle sourcing snafus and said it needed to preserve cash.
The average U.S. vehicle age rose to 12.2 years in 2022 — a nearly 2 percent increase from 2021, S&P Global Mobility said.
Online used-vehicle retailer Shift Technologies said it will focus on balancing growth and profitability in 2022.
The bills made it to committees in the state Senate and House, but they ultimately did not move forward because the Legislature was preoccupied, according to state Rep. Andrew Learned.
The extended programs, called HondaTrue Used and Acura Precision Used, are designed to draw younger, budget-minded shoppers to dealership lots.
Used-car prices, which have risen at an annual rate above 50 percent at times during the pandemic, went into reverse last month, according to a new report from CoPilot.
Cox Automotive estimated that used-car sales finished 2021 at 40.9 million vehicles, an increase of about 10 percent over 2020.
The remarketing industry veteran died Dec. 21 at 62.
Once combined, XLerate and America's Auto Auction will have 39 auction sites in 19 states.