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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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Change is constant in the remarketing industry, and 2019 continues to see new trends emerge. Here are four trends that remarketers should have on their mind.
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Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.
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The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.
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The trucks and vans that topped J.D. Power's lists for 2019 Resale Value awards include the GMC Sierra 3500, Toyota Tundra, Toyota Tacoma, and Honda Odyssey minivan, the firm announced.
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Tim Janssen, the retired president of IFS (Innovative Funding Services LLC), passed away on Aug. 14 in Largo Vista, Texas. He was 55. Janssen founded IFS in 2007 and served as president of IFS for more than 12 years until his retirement in Jan. 1.
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Van, pickup, and compact car wholesale values stood out last week, amid a fairly stable wholesale market, according to Black Book's Aug. 12 Market Insights report.
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Depreciation among car and truck segments improved slightly last week, but overall remains fairly stable, according to Black Book's July 29 Market Insights report.
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The average value of used fleet vehicles increased 1.5% to $13,758 in June from May, but remain 4.3% higher than a year ago, according to KAR Auction Services' ADESA unit.
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The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
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Black Book's latest Used Vehicle Retention Index for June (115) shows a 0.6% increase from May (114.4), which reflects an incremental improvement in used vehicle values.
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