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The 2015 Conference of Automotive Remarketing, which is produced by Bobit Business Media, publisher of Automotive Fleet, celebrated its 20th anniversary in Las Vegas from March 18-19. Highlights included keynote addresses by Hall of Fame Buffalo Bills quarterback and cancer survivor Jim Kelly and Auction Broadcasting Co. Founder and CEO Mike Hockett Sr. Photos by Chris Wolski and Steve Reed.
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Black Book has announced the hire of Laird Popkin as its chief technology officer and senior vice president.
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The average price of a used vehicle fell 1.2 percent in February as colder weather brought strength to SUV segments for the month, according to Black Book.
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Ricky Beggs will retire from Black Book on April 1 as one of the leading authorities in the vehicle remarketing industry after a 34-year career with the used-vehicle data provider.
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While hybrid vehicle sales are increasing, the total percentage of overall sales is not. Alternative-fuel vehicles are still garnering interest, but several factors are impacting sales.
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Full-size cars finished January with the strongest retention value in a month that saw used vehicles depreciate 1.2 percent, according to Black Book's monthly report.
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Last year the depreciation rate on used vehicles reached 12.1 percent, which was lower than the initial forecast. For 2015, depreciation levels are expected to hit 14.5 percent, according to a new report from Black Book and Fitch Ratings.
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The depreciation rate for cars is expected to outpace trucks and vans, which will be aided by strong demand from small fleet buyers.
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A crop of 2015 model-year mid-size sedans that offer greater fuel efficiency and more safety features than ever before are expected to return less residual value to buyers in part due to higher supply volumes, according to a Black Book forecast.
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Used vehicles fell 12.1 percent in value during 2014, which represented a slight improvement from 2013, which saw a 12.8 percent depreciation, according to Black Book.
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