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Low dealer consignment levels and a 30 percent drop in off-rental volumes have kept used vehicle prices afloat.
Read More →There are signs of a philosophy shift toward higher-mileage rental cars.
Read More →HERNDON, VA - Audi today announced sales for the month of March totaling 6,433 units sold. Audi's share of U.S. import luxury vehicle sales increased a strong 1.3 percentage points to 7.77 percent in March.
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While rentals are down 10-15 percent, operators are aggressively adapting to new market conditions and reaping the rewards.
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Jim Hallett of ADESA shared his insights on the future of the remarketing industry, in particular, the impact of technology.
Read More →We are currently in the midst of the worst used-vehicle market in the past 25 years. Year-over-year prices declined every month in 2008; however, wholesale prices did improve the first 10 days of January. Despite this, many fleets now find that the depreciation rates established 24-36 months ago are insufficient for today's resale market. In many cases, resale values of fleet vehicles are significantly below the remaining book value. Here's a forecast for what lies ahead in the wholesale market.
Read More →I can’t recall a year as tumultuous as 2008. The year started with the Jan. 1 termination of the $1.8 billion merger between GE and PHH and ended with the near bankruptcy of GM and Chrysler. In between, we witnessed record fuel prices, then a spectacular freefall in fuel prices, a dismal used-vehicle market, unprecedented credit gridlock, the inability of some fleets to order new-vehicles, and fleet delivery disruptions due to a UAW strike and an epic Midwest flood that submerged rail lines.
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Wholesale auction prices have begun to stabilize, though the recent financial crisis could throw a monkey wrench into gains.
Read More →The bread-and-butter customers of out-of-service fleet vehicles are buyers with C and D credit, namely subprime buyers. However, funders have tightened underwriting standards to manage these higher risk borrowers. Some lenders have caps on how low a FICO score they are willing to fund, which is often above the threshold of subprime borrowers. If this continues, it will have significant long-term implications for the sale of used fleet vehicles.
Read More →The majors say most SUVs are bought as program cars, protecting them from the drop in the used car market.
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