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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 12-month depreciation through the end of November for all vehicles was 12.5%.
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The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
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Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
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ALG has named Subaru and Land Rover as the winners of its 2019 Residual Value Awards for the overall mainstream and premium brand categories, according to a company announcement.
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Ford and Toyota had the most models named as having the best certified pre-owned value among 37 segments by Vincentric, the vehicle valuation firm announced.
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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
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General Motors Financial Company Inc. reported operating lease originations for the nine months ended Sept. 30, 2018 at $17.3 billion, compared to $19.6 billion for the nine months ended Sept. 30, 2017.
Read More →Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.
Read More →Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
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Six pickup trucks made the top-10 list of vehicles that retain the highest percentage of their value after a five-year ownership period, along with two Jeeps, a Subaru, and the Toyota 4Runner. At the other end of the spectrum, the Nissan Leaf saw the highest depreciation over the same period.
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