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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 2011-2015 depreciated 1.7% in June, following light depreciation in May. These vehicles fell 15.4% in value from year-ago-levels, according to Black Book.
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In May, average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks, according to ADESA.
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Used vehicle values from the 2010 to 2014 model years fell 0.5% in May from April levels with cars showing a slightly higher depreciation rate than trucks, according to Black Book.
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Diesel-powered pickup trucks sell for more than 30% of their gasoline counterparts after three years of fleet usage and return greater value with higher odometer readings, according to data from ADESA.
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Nissan, Ford, General Motors, and Toyota vehicles helped these car and truck makers lead Vincentric's 2016 Best Fleet Value in America awards that were announced today.
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The 21st edition of the Conference of Automotive Remarketing (CAR) saw nearly 700 consignor and remarketing professionals gather to learn, exchange ideas, and network.
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The average residual value of a three-year-old vehicle — the most commonly remarketed fleet vehicle — will fall 8% by 2019 as a result of an increase in the supply of used vehicles, according to a Black Book forecast.
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Exotic and high-end luxury cars that sell for more than $75,000 in some cases have been giving buyers significant bargains when they sell at auction, according to recent data from Black Book.
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Rising used vehicle depreciation pulled average April values into the red in a month that's typically the last strong month of the spring season, according to Black Book.
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