THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
The last week of November continued the downward spiral in used vehicle values, marking the weakest month in two years for wholesale values.
Black Book found that gains among sporty cars (0.43%), compact cars (0.34%), and midsize cars (0.22%) kept retained values essentially flat compared with September (115.9), even as several truck categories showed losses.
As the year comes to a close, many fleet operators are scrambling to hit their 2019 budget goals and position their business for success in 2020. But don’t overlook your excess vehicles and equipment in your search for a solution.
Wholesale values saw steep declines in both the car and truck segment last week, as the overall wholesale market continues to experience seasonal drops.
Overall truck segment values declined 0.83% last week, compared to 0.99% the week before.
Honda received the company’s top spot for the mainstream brand category and Land Rover earned the stop for the luxury brand category.
The values of vehicles sold at ADESA auctions from fleet consignors fell 0.6% to $13,309 in October but remain 2.4% higher from a year ago, according to Tom Kontos, KAR Global's chief economist.
Jeep's four-door Wrangler has placed at the top of a list of 10 vehicles that retain the highest percentage of their value over a five-year period, according to the latest report from iSeeCars.
After several weeks of accelerated depreciation, this week's Black Book Market Insights report shows more stable wholesale values.
TradeRev cut down vehicle delivery times by nearly 50% in the first half of 2019. The company is now on pace to deliver cars within 100 miles in two days
Subcompact crossovers were the only segment that saw a positive change last month, compact vans and luxury cars saw the biggest declines.
The value of former fleet vehicles sold at physical auctions and through other wholesale channels fell 1.6% in September compared to August but were 0.9% higher than a year ago, according to commentary by KAR Global's chief economist.
Vehicle logistics provider Acertus has launched a transportation management platform that allows vehicle manufacturers and shippers such as fleet management companies to better manage the process of moving vehicles between locations.
Both the car and truck segment saw similar depreciation: overall car segment values decreased 0.51% last week compared to 0.65% the week before while truck segment values decreased 0.54% compared to 0.48% the week before.
The used wholesale market showed strength in September, as values overall held up in line with what’s expected in summer, but the market is also beginning to show signs of weakness.
The 2019 International Automotive Remarketers Alliance (IARA) Spring Roundtable was co-located with the 2019 Conference of Automotive Remarketing at the Caesars Palace Las Vegas.
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