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The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
Read More →Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
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Several North Carolina used vehicle auctions closed as a result of Hurricane Florence sweeping into the state, while others shifted to online sales or delayed on-site sales.
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The market is shifting and you don’t want to be caught off guard. Pay attention to gas prices and retail buying trends, as well as the resale market so you don’t get caught with the wrong vehicle at the wrong time.
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Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.
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Three-year-old full-size vans retained the most value among trucks, vans, and SUVs in the wholesale used vehicle market, according to Tom Kontos, KAR Auction Services' chief economist.
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Wholesale used vehicle prices for vehicles from fleet or lease consignors increased 4.1% in January from the prior month, but fell 0.3% from the same month a year ago, according to the latest Kontos Kommentary.
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KAR Auction Services ADESA unit is partnering with fleet management company Emkay to raise $267,000 over six years to support JDRF, which funds type 1 diabetes research.
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KAR Auction Services has named John Hammer as president of ADESA following a resignation of Stéphane St-Hilaire, who served as CEO and president of ADESA since 2014.
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Manheim and ADESA reopened their Florida auction facilities on Tuesday, as Hurricane Irma moved north toward Tennessee.
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