Asset disposition solutions provider Remarketing by Element, a business unit of Element Fleet Management, has joined the National Independent Automobile Dealers Association's network of National Member Benefit partners.
Overall average wholesale prices softened in November from a year ago mostly due to 2017 prices that were elevated due to increased demand from hurricanes Harvey and Irma, even though values of former fleet vehicles increased, according to Tom Kontos, KAR Auction Services' chief economist.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
Insurance Auto Auctions Inc. has opened a new facility in Flint, Mich. for its salvage auctions, the KAR Auction Services division has announced.
KAR Auction Services, Inc. has consolidated its management team for two of its businesses — Recovery Database Network (RDN) and Clearplan — in order to improve synergies for the complementary business units.
As the year comes to a close, used sedan values are continuing to decline from the abnormally high levels that the segment saw through most of 2018.
Ryan Edwards has joined Dealers Auto Auction of Murfreesboro as the auction’s general manager.
November’s Index registered at 116.5, a 0.2% gain from the previous month.
KAR Auction Services, Inc. has reached a definitive agreement to acquire CarsOnTheWeb (COTW), an online auction company serving the wholesale vehicle sector in Continental Europe, according to a company announcement.
The small pickup segment experienced its highest depreciation of the year last week, according to Black Book’s Dec. 3 Market Insights report.
One tactic that OEMs are leveraging in order to offset some of this growth is the use of incentives.
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.