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Not every dent, scratch, or mechanical issue is worth fixing before selling a fleet vehicle. Learn how to weigh repair costs, resale value, market demand, and downtime to determine when reconditioning pays off and when selling as-is makes more sense.
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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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Wholesale values for used vehicles reach a record-high of 127.9, while new vehicle sales dropped 2% compared to last year.
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“It is expected that we will see more declines in the Index in the months ahead as we move deeper into the year, particularly driven by softness among car segments,” said Anil Goyal, senior vice president of Automotive Valuation and Analytics for Black Book.
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Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
Read More →GM Financial reported $202 million in net income in the first quarter of 2017, a 23% increase over the same time last year, despite pressure on used-car values, the company has announced.
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Used vehicles increased 0.4% in value in April, as buyers boosted the value of smaller cars, which have begun to shrug off several years of heavier declines, according to Black Book.
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