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James McKinley of City Rent a Truck was named the inaugural Fleet Value Champion at the CAR Conference for his data-driven approach to fleet lifecycle management and vehicle remarketing.
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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%.
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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.
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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.
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Using internet equipment auctions can help you overcome the problems of tight timelines, market value and changing brands, according to the company.
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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.
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After five straight years of market-share gains, the SUV segment may be poised for a slowdown, according to a new analysis from Edmunds.
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IARA will be hosting its 16th Annual Summer Roundtable in Nashville this year. The three-day event will be held at the Hilton Downtown Nashville on Aug. 16-18.
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Wholesale auctions sold 9.8 million vehicles worth $100 billion in 2016 with the majority coming from dealer consignment, according to the National Auto Auction Association (NAAA). The association has been surveying its members for 20 years.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
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Used vehicle prices experienced a reversal in May, falling 1.2% from the previous month, according to Black Book.
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