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Remarketing

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October 16, 2017 - Industry News

Manheim Puerto Rico Hosts First Post-Hurricane Sale

Photo courtesy of Manheim.

Manheim Puerto Rico hosted its first post-hurricane sale on Oct. 12 — 200 vehicles were offered for sale, the auction announced. Of those, 70 sold and an additional 30 vehicles are pending sale.

Tags: Remarketing, Manheim, Puerto Rico, Hurricanes, Hurricane Maria

October 12, 2017 - Industry News

Hurricane Replacement Still Boosting Used Vehicle Prices

The average price of used vehicles model years 2012-2016 fell 0.7% in September, with the lion’s share of that depreciation coming from the car segment, according to Black Book. As of September, all vehicles are averaging a 12-month depreciation of 14.5%.

Tags: Depreciation, Remarketing, Black Book, Used Vehicle Values

October 10, 2017 - Global News

RMS Automotive Enhances PSA Group's Dealer Portal

RMS Automotive has enhanced its MOVE dealer web portal for French manufacturer PSA Group's vehicles. PSA Group uses the upstream remarketing platform in 22 countries to for Peugeot, Citroen and DS Automobiles brands.

Tags: RMS Automotive, Upstream Remarketing, Global, PSA Group

October 6, 2017 - Industry News

Used Vehicle Prices Expected to Rise Until End of Year

Segment prices compared to the same time last year. Photo courtesy of Manheim.

Wholesale used vehicle prices rose 2.77% in September on a month-over-month basis, which drove Manheim’s Used Vehicle Value Index up 6.3% from a year ago to 134.9, marking five months of consecutive growth.

Tags: Remarketing, Manheim, Used Vehicle Values

October 3, 2017 - Industry News

Durango, Grand Cherokee SUVs Recalled for Brakes

Photo of Dodge Durango by Aneekr/Wikimedia Commons.

The recall, set to get under way Nov. 7, covers more than 646,000 vehicles in the 2011 to 2014 model years.

Tags: Jeep, Dodge, Jeep Grand Cherokee, 2011-MY, 2012-MY, Recalls, Dodge Durango, 2013-MY, Brakes, 2014-MY, Mid-Size SUVs, NHTSA, FCA, Safety

September 27, 2017 - Industry News

Hurricane Boost to Vehicle Sales May Last Until November

Photo courtesy of EveryCarListed via Flickr.

The demand for replacement vehicles has already started, and experts say it will continue well into October, and possibly November, as insurance payouts are received.

Tags: Kelley Blue Book, Forecast, Hurricane Harvey, Hurricane Irma, New Vehicle Sales

September 22, 2017 - Industry News

Dealers More Optimistic About Used Car Market vs. New

Photo via order_242/Wikimedia (Creative Commons).

Franchise dealers now view the used car market more optimistically than the new vehicle market, according to a new sentiment index from Cox Automotive. The finding speaks to the current shift of car buyers with prime and subprime credit toward the used market.

Tags: Remarketing, Dealers, Cox Automotive, Experian

September 20, 2017 - Industry News

CarLotz Raises $30M in Funding

Photo of Charlotte, N.C. location via CarLotz.

The funding, provided by TRP Capital, will help the company expand retail locations that serve corporate fleet customers including fleet management companies.

Tags: CarLotz, TRP Capital, Venture Capital, Remarketing

September 20, 2017 - Industry News

Fleet Lease Consignor Prices Climb Higher

Screenshot of Tom Kontos via KAR Auction Services.

Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.

Tags: Tom Kontos, KAR Auction Services, Used Vehicle Values, Remarketing

September 19, 2017 - Industry News

ADESA's KAR to Build New HQ in Indiana

A building design of the new KAR campus in Carmel, Indiana. Photo courtesty of KAR Auction Services.

Nearly 1,600 of KAR’s 17,400 employees are located in Indiana, and the new location provides space for an additional 400 jobs.

Tags: Indiana, Auctions, KAR Auction Services, Headquarters, Remarketing Executives

September 12, 2017 - Industry News

Manheim, ADESA Resume Florida Operations

Hurricane Irma forecast via NOAA.

Manheim and ADESA reopened their Florida auction facilities on Tuesday, as Hurricane Irma moved north toward Tennessee.

Tags: Hurricane Irma, Manheim, ADESA, Hurricanes, Florida Auctions

September 11, 2017 - Industry News

ADESA Closes Florida Auctions Ahead of Irma

Photo of ADESA Atlanta courtesy of ADESA.

Five ADESA auctions remained closed Monday as Hurricane Irma moved through Georgia and Alabama, and two ADESA auctions in those states curtailed hours and staff, the KAR Auction Services unit announced.

Tags: ADESA, Hurricanes, Hurricane Irma, Remarketing, Georgia Auctions, Florida Auctions

September 11, 2017 - Industry News

Past AFLA President, Enterprise Remarketing Manager Janik Dies

Janik

Greg Janik, president of the Automotive Fleet & Leasing Association (AFLA) from 1986-1987, passed away on Sept. 8. He was 74. Janik was a long-time member of AFLA and a strong supporter of the fleet industry.

Tags: AFLA, Obituary, IARA, Enterprise Rent-A-Car

September 6, 2017 - Industry News

Manheim to Close Florida Auctions Ahead of Irma

Satellite image of Manheim Fort Lauderdale via ThingLink.

Manheim has closed its Puerto Rico facility and will close four of its Florida auctions on Friday ahead of Hurricane Irma's expected landfall in Florida over the weekend, according to the company.

Tags: Manheim, Hurricanes, Emergency Planning, Hurricane Irma, Florida Auctions

September 1, 2017 - Industry News

Houston-Area Auto Auctions Get Back to Business

Photo of Manheim Houston in 2013 via YouTube.

Houston's auto auctions have begun assessing the impact of Hurricane Harvey so they can resume full business activity to supply replacement vehicles for those who lost cars, trucks, and SUVs in the flood.

Tags: Manheim, ADESA, Natural Disaster, Online Auctions, Hurricane Harvey, Hurricanes, Texas Auctions

August 29, 2017 - Industry News

Fleet Lease Consignor Prices Up 1.8% Through July

Screenshot of Tom Kontos

Auction prices for fleet lease vehicles have increased 1.8% through July even with a 0.1% decline in the month amid "price softening," according to Tom Kontos' latest commentary.

Tags: Remarketing, Tom Kontos, Mid-Size Sedans, Mid-Size SUVs, Used Vehicle Values

August 22, 2017 - Industry News

Consumer Confidence High in Healthy Auto Market

Smoke

Households have set a new nominal record for debt, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights. This, the report added, is a sign that consumer confidence is high and that credit is readily available

Tags: Remarketing, Manheim, Economic Conditions, New Vehicle Sales

August 17, 2017 - Industry News

Manheim Improves Vehicle Valuation Tool

Photo: Manheim

Manheim has updated its vehicle valuation tool, the Manheim Market Report (MMR), to provide more detailed valuations of used vehicles to increase transparency and improve the remarketing process, the company announced.

Tags: Remarketing, Manheim, Used Vehicles, Used Vehicle Values

August 8, 2017 - Industry News

Manheim's Cadigan Retires After 40-Year Career

Cadigan

Jay Cadigan will retire from Manheim, capping a 40-year career in the remarketing industry that included stints at auctions, as well as leasing companies and rental car operators.

Tags: Remarketing, Manheim, Retirement, Avis Budget Group, US Fleet Leasing

August 4, 2017 - Industry News

Retail Used Car Sales Climb 4.3% in 2017

Smoke

Retail used car sales are up 4.3% year-to-date, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights.

Tags: Remarketing, Manheim, Used Vehicle Sales

July 17, 2017 - Industry News

Vehicle Depreciation Shows Pockets of Strength at Midway Point

Photo of 2012 Tacoma courtesy of Toyota.

The average price of a used vehicle for model years 2012 to 2016 decreased in value 1.3%, slightly more than the 1.2% decrease in May, according to Black Book. The price of cars overall dropped 1.8%, while trucks decreased 0.8% in value in June. All vehicles are averaging a 12-month depreciation of 16.7%.

Tags: Black Book

July 17, 2017 - Industry News

Wholesale Prices Softening Despite YOY Increase in June, Kontos Says

Kontos

Average wholesale prices in June were down vs. June but up vs. a year ago. A drill down into the data, however, reveals price softening on a year-over-year basis when accounting for sales type, vehicle age, model class, and mileage, KAR Chief Economist Tom Kontos said today.

Tags: Remarketing, Tom Kontos, Used Vehicle Values, KAR Auction Services

July 10, 2017 - Industry News

Used Vehicle Values Keep Climbing Higher, Manheim Says

Screenshot via Manheim/YouTube.

The Manheim Used Vehicle Value Index hit a record high for the second consecutive month, as wholesale used-vehicle prices rose 1.1% month over month in June. The increase brought the Index to 129.3, a 2.5% increase from a year ago.

Tags: Manheim, Used Vehicles, Used Vehicle Values, Used Vehicle Sales, Cox Automotive

July 7, 2017 - Press Release

Purple Wave Auctions Offers Remarketing Advice

Using internet equipment auctions can help you overcome the problems of tight timelines, market value and changing brands, according to the company.

Tags: Remarketing, Online Auctions

June 30, 2017 - Industry News

New-Vehicle Sales Down 2.3% in First Half of 2017

Photo via Creative Commons.

New-vehicle sales through the first six months of 2017 are expected to be down 2.3%, and high quality off-lease vehicles may be part of the reason why, according to Kelley Blue Book.

Tags: Remarketing, Used Vehicles, New Vehicle Sales, KBB

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