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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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Donlen recently announced the recipients of its 2016 Top Auction Awards, according to a company announcement. Manheim Mississippi took home top honors as the recipient of the Auction of the Year award, however, seven other auctions also received awards.
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Ron Shoemaker, who founded Flexco Fleet Services, is moving out of his role as CEO to lead The Hourglass Foundation, which he co-founded with son Chad, who will step into the top role with the remarketing company.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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Ford and Nissan vehicles appeared most prominently among the vehicles chosen as having the best fleet value by Vincentric for the 2017 model year, the firm that analyzes total cost of ownership announced.
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Cox Automotive has named Jonathan Smoke as its new chief economist, according to a company announcement. In his new role, the company added, Smoke will be responsible for leading the creating of an economic industry insights office.
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A new report from Morgan Stanley warns that used-car values could fall by 25% to 50% in the next four to five years.
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While wholesale used-vehicle prices declined by 0.5% in March, the Manheim Used Vehicle Value Index — a measure of wholesale prices adjusted for mix, mileage and season — came to a reading of 124.1. This is an increase of 1.3% from a year ago.
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Used cars outperformed trucks in March, as full-size pickups, compact vans, compact cars, and sporty cars increased in value, while as overall used vehicles depreciated 0.6%, according to Black Book.
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The 2017 Conference of Automotive Remarketing (CAR) was held March 1 to 2 at the Paris Las Vegas hotel, and was host to nearly 700 remarketers and consignors.
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Tom Webb will retire as Cox Automotive's chief economist after a more-than-four-decade career, where he became a leading voice about the economic health of the automotive industry.
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