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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.
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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.
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Spring has come to an end, with cars declining in values greater than trucks.
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Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by just 0.01% last week.
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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
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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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The 2019 Consignor of the Year award was given to Chris Clarke of ARI this year. He spoke with Automotive Fleet to talk about his win, the remarketing industry as a whole, and ARI's remarketing operations.
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Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
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The spring / tax season market uptick helped make March a strong month for used vehicle sales, and late-model sedans from fleet leasing consignors continue to outperform their SUV/CUV counterparts, according to Tom Kontos, KAR's chief economist.
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View photos from the 2019 Conference of Automotive Remarketing, which took place from March 25 to 27 at Caesars Palace Las Vegas.
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