Hertz Global Holdings’ monthly net per unit vehicle depreciation expense decreased 13% to $302 for its U.S. operations, during its first quarter of 2018.
Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.
Used compact and midsize passenger cars held their value better than pickups and cargo vans in April, and overall vehicle depreciation eased due to a strong spring selling season, according to Black Book.
All vehicles are Avis Certified — meaning they have passed a rigorous multi-point, bumper-to-bumper inspection process completed by certified mechanics, including ASE-Certified and ASE Master Technicians.
Car values were up for the second month in a row last week, however, the segment's wholesale values show signs of leveling off, according to Black Book’s May 7 Market Insights report.
Carvana has opened its newest car vending machine in Charlotte, N.C., bringing the number of vending machines it operates nationwide up to nine and the number it operates in the state up to two, according to a company announcement.
Westlake Financial Services will now list its vehicles on SmartAuction, as part of an agreement between Westlake and Ally Financial, according to a company announcement.
AutoNation saw more used vehicle sales and higher used vehicle profits during its most recent quarter, on a same-store basis, according to AutoNation’s first quarter earnings call.
Revenue growth was driven by a 5% increase in total rental days and strong pricing.
Manufacturers may choose to absorb higher federal interest rates on new vehicles to keep prices from rising higher than they have been with heavier incentives, but this could have an adverse effect on residual values.
The Jeep Wrangler Unlimited retained the highest percentage of its value after the first year of ownership, according to analysis conducted by ISeeCars.com, a consumer shopping portal for used cars.
Insurance Auto Auctions, a business unit of KAR Auction Services, has opened a new branch in Casper Wyoming, according to a company announcement.