THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
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.
Wholesale used vehicle prices decreased 1.04% in September compared to prices the month before, according to Cox Automotive’s latest Manheim Used Vehicle Value Index report.
Used vehicle values are beginning to buckle as depreciation continues to accelerate, particularly among sedans, according to Black Book’s Oct. 1 Market Insights report.
Used fleet vehicles that sold at wholesale fell 1.5% to $13,603 in August from July, but remained up 1.2% when compared to the same month a year ago, according to Tom Kontos, chief economist for KAR Auction Services.
KAR Auction Services Inc. has rebranded and will begin doing business as KAR Global, the company announced.
While used truck prices only dipped slightly in August, the 1% year-over-year decline is the first since January 2018, according to ACT Research’s latest report on used Class 3-8 trucks.
Used vehicle values saw slightly higher depreciation last week, but overall remain fairly stable, according to Black Book’s Sept. 24 Market Insights report.
Overall used wholesale values remained mostly flat last week, as post Labor Day sales continue to show strength, according to Black Book’s Sept. 17 Market Insights report.
While most wholesale vehicle segments are experiencing low levels of depreciation, heavy depreciation from luxury segments is continuing to weigh down overall wholesale values, according to Black Book’s Sept. 10 Market Insights report.
Manheim and Adesa auctions in the path of hurricane Dorian mostly shifted to digital sales on Thursday as the storm drenched the Carolinas and Virginia.
Overall vehicle values last week were stable, as the anticipation for Labor Day kept bidding strong at auctions, according to Black Book’s Sept. 3 Market Insights report.
The nation's largest wholesale vehicle auctions, including Manheim and Adesa, have shifted to digital-only auctions and taken other precautions to protect the facilities from Hurricane Dorian's possible landfall later this week.
Nick Peluso, a 30-year veteran of the remarketing industry and leader at Manheim since digital auction sales were a burgeoning idea, will retire at the end of the year.
Manheim's president who oversees the inventory solutions unit offers thoughts on fleet mobility services, bringing artificial intelligence to inspections, and the company's diversification strategy.
Through the 12-month period ending in June 2019, overall manufacturer incentive spend has declined, and the strength of fleet sales this year has been a big reason why.
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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