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Franchise dealers now view the used car market more optimistically than the new vehicle market, according to a new sentiment index from Cox Automotive. The finding speaks to the current shift of car buyers with prime and subprime credit toward the used market.
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The funding, provided by TRP Capital, will help the company expand retail locations that serve corporate fleet customers including fleet management companies.
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Fleet lease consignor prices moved higher in August, increasing 1.4% over July and 2.3% through the first eight months of the year compared with 2016, according to the Sept. 20 Kontos Kommentary.
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While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.
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Five ADESA auctions remained closed Monday as Hurricane Irma moved through Georgia and Alabama, and two ADESA auctions in those states curtailed hours and staff, the KAR Auction Services unit announced.
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Preparations for Hurricane Irma had been made long before the hurricane made landfall in Florida.
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For some fleets, a truck’s value does not come up until it’s time for remarketing. But getting the most profit for these assets requires careful planning long before the truck goes up for sale.
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Auction prices for fleet lease vehicles have increased 1.8% through July even with a 0.1% decline in the month amid "price softening," according to Tom Kontos' latest commentary.
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While summer hasn’t quite reached its end, the approaching fall season is already having some effect on the types of cars selling at Midwest auctions.
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Households have set a new nominal record for debt, according to Manheim Chief Economist Jonathan Smoke’s Industry Insights. This, the report added, is a sign that consumer confidence is high and that credit is readily available
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