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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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While luxury vehicles continue to struggle, overall vehicle values held steady last week, according to Black Book’s Oct. 8 Market Insights report.
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Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.
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Edmunds is forecasting 1,392,434 new vehicles sales through September, representing a 5.4% decline from March and an 8.3% decline from the same time last year.
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Used-vehicle auctions have started resuming regular business hours following the effects of Hurricane Florence, which had less of an impact on the U.S vehicle market than Hurricanes Harvey and Irma in 2017.
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The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
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After the heavy rains brought by Florence to the Carolinas stopped, estimates about the number of vehicles that were destroyed by the storm began to roll in that made it clear the storm would have far less of an impact that the pair of storms that reached Texas and Florida a year ago.
Read More →Several North Carolina used vehicle auctions closed as a result of Hurricane Florence sweeping into the state, while others shifted to online sales or delayed on-site sales.
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More SUVs, the retention of higher mileage vehicles, and new methods of remarketing are some trends fleets are observing in the wholesale market.
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TradeRev started as a dealer-to-dealer mobile app, but has expanded its offerings to give more real-time auction access to commercial fleets and fleet management companies.
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Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
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