Challenging winter weather led to a slight year-over-year decline in auction sales through January in the Midwest region of the U.S. However, as January concluded and February progressed, sales began to pick up.
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Large pickups and mid-size SUVs, especially those vehicles with all-wheel drive, sold particularly well in December and January in Colorado and Idaho, as a mild winter didn't affect Colorado, while heavy snow and ice muted auction activity in Idaho.
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By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.
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As the Northeast region deals with what the Weather Channel has called Winter Storm Decima, certain trends at auctions across the nation remain consistent with locations in the region, such as the popularity of trucks and a decline in activity at auction as the result of the holidays.
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With Canadian membership its fastest growing segment, the IARA wanted to give credence to the “International” part of its name by holding its first Roundtable Conference outside the U.S.
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Auctions in the Pacific Northwest and across the northern tier of the U.S. have seen a healthy influx of Canadian units over the past two years as a result of a softening economy in western Canada and a weak Canadian dollar.
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A higher portion of pricier off-lease units that made their way onto the market in September, along with higher truck prices, which resulted in a flat wholesale market for the month in the Southwest region.
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While depreciation is the biggest fleet expense, there are steps fleet managers can take before purchasing a vehicle, while it’s in the fleet, and when it’s being remarketed that can make this expense manageable.
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In South Carolina, one auction is seeing an increase in former fleet vehicles. In South Florida, another auction is bucking lower luxury residual values.
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The new Centralized Vehicle Data Repository offers a single place for remarketers to access build data, MSRP, recall, and warranty information at the VIN level — and potentially see better pricing as a result.
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