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The average sale price for used vehicles from fleet leasing consignors continued to outpace vehicles cosigned to auction by manufacturers and dealers in February, according to Tom Kontos, KAR's chief economist.
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A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
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The average sale price for used vehicles from fleet leasing consignors increased 1.9% to $12,706 in January from the prior month and 3.9% from January of 2018, according to Tom Kontos, KAR's chief economist.
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Propane autogas vehicles provide a lot of value when it is time to replace or retire the asset, whether fleet owners plan to sell privately, at a public auction, or trade-in the vehicle. Here are a few things to consider when making the decision.
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Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
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The average prices for used fleet vehicles sold at auction increased 6.2% to $12,464 in 2018, despite a weaker finish to the year that saw a 0.4% decline in December, according to Tom Kontos, KAR Auction Services' chief economist.
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The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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Asset disposition solutions provider Remarketing by Element, a business unit of Element Fleet Management, has joined the National Independent Automobile Dealers Association's network of National Member Benefit partners.
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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
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Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.
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