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According to Manheim, wholesale used vehicle prices increased 5.74% in the first 15 days of May compared to the month of April. New and used retail vehicle sales show substantial gains from March’s free fall.
Automotive Fleet has released its fourth report in the new State of the Fleet Industry weekly video series summarizing the latest news in the fleet market, which is presented by AF Editor Mike Antich.
To support social distancing measures related to COVID-19, customers can search through an extensive online inventory, speak with an expert via phone or email, and schedule a safe delivery or pick-up.
Merchants Fleet is expanding capacity for its in-demand commercial vehicle remarketing services and has hired Jesse Hopperstad as a remarketing sales manager, where he will be responsible for assisting new and existing Merchants Fleet clients in the Western half of the country with remarketing their vehicles.
Companies such as Manheim and ADESA have invested time and money to bolster the digital side of their business to meet the demands of this growing field, and so have fleet management companies.
Online remarketing has been a growing trend for the past few years and it promises to continue. As more remarketers are selling and buying wholesale vehicles online, some new trends have emerged.
The winner is announced at the annual Conference of Automotive Remarketing, which this year will be held on March 24-25, 2020 at Caesars Palace Las Vegas.
Quanta Services has partnered with Ritchie Bros. to develop a new online inventory management system that will help improve how the company redeploys assets across its operating locations and subsidiaries.
Former fleet vehicles sold by KAR Global's ADESA remarketing unit fell 3.2% in value in November from the prior month but remain 3% ahead of a year ago partly due to a softening wholesale market.
CUV/SUVs saw year-over-year declines to their wholesale values, but are still performing well due to continued demand for these segments and cheap gas prices, but an inflection point is approaching.