In a reversal from the new-vehicle trend of trucks overtaking cars in market share, auction volume from the 2015 to 2018 model years favored the car segment in January. Late-model car auction volume accounted for 54% of the auction volume in January while trucks accounted for 46%.
KAR Auction Services ADESA unit is partnering with fleet management company Emkay to raise $267,000 over six years to support JDRF, which funds type 1 diabetes research.
Five General Motors vehicles from the 2018 model year have the lowest cost to own in their categories over a five-year period, while four Toyota or Lexus vehicles also made an annual list from Kelley Blue Book.
In 2017, 40% of vehicles sold at Manheim were purchased through a digital screen versus in-lane, reported Manheim in a recent announcement. This meant that through 2017, 2 million vehicles at Manheim auctions were purchased through a digital transaction.
KAR Auction Services has named John Hammer as president of ADESA following a resignation of Stéphane St-Hilaire, who served as CEO and president of ADESA since 2014.
Average wholesale prices for fleet lease vehicles were down 1.9% month-over-month, but up 0.4% year-over-year, according to Tom Kontos, KAR Auction Services' chief economist.
An index that tracks wholesale used vehicle values fell in December for the first time in four months at a time when the used vehicle market typically shows some weakness. It also reinforced 2017 as a growth year for used vehicle sales.
United Kingdom-based Jardine Motors has signed a three-year deal with British Car Auctions (BCA) to remarket roughly 20,000 vehicles a year.
Typical seasonal highs and lows were disrupted this year due to a run of natural disasters destroying hundreds of thousands of vehicles and causing a surge in replacement activity. Overall fleet depreciation improved this year.
CAR's full agenda has been revealed, and its keynote speakers include ARI's COO, an Olympic gold medal winner, and Enterprise's senior VP of Fleet North America.
The used vehicle market should grow about 1% in 2018 bolstered by a federal tax cut and influx of utility vehicles, while new vehicle sales are expected to remain flat, according to Cox Automotive's senior economist.
The hurricanes that swept through Texas and Florida destroyed and damaged as many as 900,000 vehicles, and the replacement activity that the catastrophic events spurred boosted retention by almost 2%, according Black Book.
The average price of a used vehicle from model years 2012 to 2016 depreciated in value by 2.2%, in November, according to Black Book. Year-over-year, the average value for these vehicles has depreciated by 13.2%.
Steve Bloom, retired president of Enterprise Fleet Management, reflects on the key milestones that contributed to the growth of the business that now includes more than 50 fully staffed offices across the U.S. and Canada.
As consumers and automakers continue to migrate away from sedans toward crossovers, there are no clear winners when analyzing total cost of ownership of individual models.
The Conference of Automotive Remarketing drew a professional crowd that networked for business and cultivated industry friendships.
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