THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
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.
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.
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.
Wholesale prices for used vehicles up to 8 years old fell 1.7% month-over-month in May, a level that’s typical for this time of year, according to J.D. Power’s June Used Car and Light Truck Guidelines. Auction volume up 12% month-over-month, 2.6% year-over-year.
The Mercedes-Benz C-Class topped a list of the most recalled cars in recent model years, while the Hyundai Accent was the least-recalled vehicle during the same period, according to a report on ISeeCars.com.
Used compact vans and several categories of crossovers increased in value in wholesale sales, while luxury vehicles made up seven of the 10 lowest performing categories among 2013-2017 vehicles in May, according to Black Book.
The National Auto Auction Association will begin raising awareness among its members about dealing with open recalls on vehicles that are sold at wholesale auctions under a new partnership with the National Safety Council.
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.
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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