THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
Car values continued to weaken and truck values strengthened last week, as the summer months approach.
Used vehicles from fleet consignors in ADESA sales increased 2% in May to $14,043 and were 5.5% above a year ago, according to monthly commentary from Tom Kontos, chief economist for KAR Auction Services.
Over the past three years commercial remarketers have cut the time it takes to sell a vehicle from the moment it arrives at auction by five days.
KAR Auction Services Inc. has introduced a data-driven pricing tool called Pricing Insights designed to help fleet and other commercial consignors optimize pricing on wholesale vehicles.
Manheim Tucson has become the company's first all-digital auction.
With the exception of luxury vehicles, most vehicle segments saw stable values last week.
Sedan wholesale values are expected to improve as more SUVs and crossovers return to the used market. Meanwhile, SUV and crossover wholesale values are beginning to decline
Used vehicles from fleet consignors in ADESA sales increased 4.3% to $13,771 in April compared to March, and were up 4.4% from a year ago, according to monthly commentary from Tom Kontos.
Overall wholesale values remained stable last week, however, luxury values continued to decline last week.
Manheim made its first digital sale a little over 20 years ago. Over the past 20 years, the company's digital sales have grown from fewer than 100 annual digital sales to over 600,000.
Overall car segment values were down 0.08%, compared to a 0.08% increase the week before. Overall truck segment values were up 0.09%, compared to an increase of 0.05% the week before.
Gains last week were minimal, remaining essentially flat from the week before, signaling an end to the price gains the market has experienced.
Black Book's Used Vehicle Retention Index fell to 113.6 in April, a 0.2% decline from March. Despite the index now falling for five straight months, it is still 1.4% higher than the 112 registered a year ago.
Build Data comprises "as built" content such as optional equipment specific to a unique 17-digit VIN. This new integration will allow for a higher degree of valuation precision for General Motors vehicles.
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.
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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