News
Wholesale Values Decline Eighth Week in a Row
Volume-weighted, overall car and truck segments both experienced continued softening in values, with the overall market decreasing by 0.60% this past week.
Volume-weighted, overall car and truck segments both experienced continued softening in values, with the overall market decreasing by 0.60% this past week.
Volume-weighted, overall car and truck segments both experienced continued softening in values, but rate of decline slowed with the overall market decreasing by 0.52% this past week.
The largest fleet expense is vehicle depreciation, so managing it is critical to operating a well-run fleet. Remarketing is core to fleet management. In many ways, fleets are very much the “factories” that manufacture used vehicles.
The new Lumberton location consists of 89 acres. Eligible buyers can register and join auctions to bid on inventory through the Copart website or via the Copart Mobile App for iOS and Android devices.
McConkey Auction Group (MAG) has acquired ABS Auto Auctions, which remarkets over 40,000 vehicles annually, expanding the auction group’s U.S. footprint.
KAR Auction Services has acquired BacklotCars, expanding the auction company’s digital transformation strategy with the new digital dealer-to-dealer platform.
BSC America has named Ben Winkler as the new general manager for its Tallahassee Auto Auction operation in Tallahassee, Fla.
Wholesale used vehicle prices increased 0.47% month-over-month in October, bringing the mid-month Manheim Used Vehicle Value Index to 161.9, a 15.4% increase from October 2019.
KAR Auction Services has amplified its “recommendations carousel” on ADESA.com to include dealer trade-ins from TradeRev
The restart of physical auction sales will look different for each location and comes with limitations intended to protect the health and safety of team members and clients.
XLerate Group Auctions’ Charleston Auto Auction in South Carolina has hired Andy Shaffer as specialty sales/fleet lease remarketer, who brings an extensive amount of knowledge in the specialty and auto remarketing industry.
America’s Auto Auction has given its November Spotlight Award to Mechelle Montgomery, fleet/lease manager at America’s Greenville auction in South Carolina, who has worked for the auction since 2007.
The remarketing industry observed a lower number of off-lease units in 2020 than anticipated; fleets extending asset lifecycles; and fewer repossessions than what would occur in a normal year.
