THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
Off-lease vehicles from fleet consignors in the rental, commercial, and government sectors increased 2.3% in April from March and increased 5.8% from a year ago, according to analysis from KAR Auction Services.
Disruption in the automotive industry will affect many businesses with close ties to it, including those in wholesale remarketing, health care, and accident litigation.
Used-vehicle sales will rise and new-vehicle sales will fall in 2018, while total sales will reach 56.2 million, which would represent a second year of declines for the automotive industry, according to a Cox Automotive forecast.
Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.
Used compact and midsize passenger cars held their value better than pickups and cargo vans in April, and overall vehicle depreciation eased due to a strong spring selling season, according to Black Book.
The Jeep Wrangler Unlimited retained the highest percentage of its value after the first year of ownership, according to analysis conducted by ISeeCars.com, a consumer shopping portal for used cars.
Faye Francy of Auto-ISAC and Andrea Amico of Jack Cooper Logistics led a discussion on the steps that could be taken to protect personal identifiable information stored inside the vehicles sent for remarketing.
Ford or Lincoln vehicles have captured the most awards by a single manufacturer among the 39 vehicles named to Vincentric's Best Fleet Value in America list for the 2018 model year.
Used cars of all sizes outperformed trucks, vans, and larger SUVs at wholesale auctions in March, Black Book is reporting.
Toyota and Porsche led mainstream and luxury brands in Edmunds’ 2018 Best Retained Value awards. Collectively, the two brands earned eight of the 18 brand-level awards that Edmunds gives out each year.
Three-year-old full-size vans retained the most value among trucks, vans, and SUVs in the wholesale used vehicle market, according to Tom Kontos, KAR Auction Services' chief economist.
Volkswagen has been storing the diesel-powered vehicles it bought back from customers at 37 secure storage facilities that include a suburban Detroit football stadium, former Minnesota paper mill, and desert parking lot near Victorville, Calif., Reuters is reporting.
Lincoln is expanding its luxury subscription pilot service in West Los Angeles by bolstering the services’ inventory with a slate of used 2017 Lincoln vehicles, according to a company announcement.
Fleet mainstays such as pickups and vans are expected to perform well at wholesale this year. Higher-end vehicles, such as those found in executive fleets are expected to struggle.
This wave of off-lease vehicles is expected to be one of the biggest threats that the new-vehicle industry will face this year and the next. And, it won’t just be the sheer volume of relatively new, low-mileage vehicles that will pose a risk to the new-industry; it’ll be the types of off-lease vehicles returning to market that will present the biggest hurdle.
The 2018 Conference of Automotive Remarketing (CAR) detailed the biggest topics concerning wholesale remarketing, and also elaborated on technological developments that may impact the industry as a whole. Read the full story here. Photos by Andy Lundin.
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