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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 Ram 3500 earned the best resale value award for the heavy-duty pickup segment. The Ram 3500 was also the overall winner for best resale value in 2018.
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Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.
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Used vehicle sales continued their strong performance in the wholesale market in July, as an "abnormal bounce" that began in June continued to show strength with overall values increasing in July 1.51% from the prior month, according to Manheim.
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The first half of 2018 has been a strong year for used vehicle values, and growth in upstream remarketing is playing a helpful role.
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As an example of this analysis, Black Book data shows that the Toyota FJ Cruiser, whose last model-year was 2014, has actually gone up in value by 25.7% compared to other vehicles that were listed in its segment.
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Statistics covering vehicle remarketing in 2017. In this report, we cover a 20-year used vehicle value index, distribution of auction sales, retail lease penetration rate, wholesale used-vehicle price trends, and depreciation rates by segment.
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Economic growth and positive consumer sentiment helped drive June’s depreciation rates to the lowest levels seen in five years, according to Black Book.
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Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
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Wholesale vehicle prices for former fleet vehicles at auction increased 0.8% in May from April and have increased 6.8% from a year ago in a "seasonally strong" market, according to Tom Kontos, KAR Auction Services' chief economist.
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The initiative began in 2014, when the company first announced that its $400 million multiple-year project to transform its auction operations. In that time Manheim brought enhancements to both its physical and digital properties.
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