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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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Houston's auto auctions have begun assessing the impact of Hurricane Harvey so they can resume full business activity to supply replacement vehicles for those who lost cars, trucks, and SUVs in the flood.
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Prices consignors booked from off-lease fleet vehicles fell 0.2% in May, but remain up 3.5% from a year ago, Tom Kontos wrote in his monthly Kontos Kommentary.
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Average wholesale prices increased in April from March and from a year ago on the strength of truck values, but several benchmark segments in fleet lease sales are showing weakness, said Tom Kontos in his monthly commentary.
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February provided "further concrete evidence of softening" of used vehicle prices during a month that usually shows improvement from January, ADESA's Tom Kontos wrote in his monthly Kontos Kommentary.
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The average wholesale used price in July was $10,362, a 2% decline from June but a 4.9% increase from year-ago period, according to ADESA Analytical Services.
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In May, average wholesale values fell relative to April, though they remain up on a year-over-year basis largely because of the price strength of trucks, according to ADESA.
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Diesel-powered pickup trucks sell for more than 30% of their gasoline counterparts after three years of fleet usage and return greater value with higher odometer readings, according to data from ADESA.
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ADESA, a business unit of KAR Auction Services, has announced that Lisa Scott has been promoted to chief client officer for ADESA Canada.
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ADESA, Inc., has signed an agreement to acquire eight Brasher family auctions for $283 million under an agreement announced by parent KAR Auction Services.
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