THE CAR AND TRUCK FLEET AND LEASING MANAGEMENT MAGAZINE
The used industry's seasonally adjusted annual rate (SAAR) was 39.8 million during June, down from the 41.1 million SAAR from the same time last year, according to Cox Automotive estimates.
Manheim made its first digital sale a little over 20 years ago. Over the past 20 years, the company's digital sales have grown from fewer than 100 annual digital sales to over 600,000.
Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
The lull that the wholesale market experienced through January and February was upended in March, as the industry saw the traditional spring bounce in values, according to the most recent Manheim Index report.
Following a lower-than-expected February, Cox Automotive is forecasting March U.S. auto sales volume to hit 1.547 million, an increase from last month, but a nearly 7% decline from March 2018.
The 2019 Conference of Automotive Remarketing is less than two weeks away, and this year, the annual conference will feature a panel discussion led by managers of some of the leading commercial fleet leasing companies.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
Pivet embodies the broader vision of the mobility future the Cox Automotive Mobility Group envisions, grounded in the art and science of moving people.
Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.