Eric Gandarilla is a former Bobit editor who worked on Automotive Fleet and Vehicle Remarketing.
Eric Gandarilla
Senior Editor
Senior Editor
Eric Gandarilla is a former Bobit editor who worked on Automotive Fleet and Vehicle Remarketing.
Insurance Auto Auctions has taken steps to prepare its auctions for Hurricane Florence with lessons the company's leaders learned from last year's hurricanes, said John Kett, the company's chief executive and president.
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Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
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The first half of 2018 has been a strong year for used vehicle values, and growth in upstream remarketing is playing a helpful role.
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The wholesale industry is in the early stages of a digital transformation that's boosting sales at ADESA, KAR Auction Services CEO Jim Hallett said earlier this month. Online sales have driven 7% in overall volume growth during the quarter, and have helped offset waning sales at physical auctions.
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Subcompact cars, compact cars, mid-size cars, and full-size cars all saw their wholesale values increase through the period between Feb. 1 and May 1. Respectively, these segments’ wholesale value rose by 2.6%, 5.3%, 3.1%, and 1%.
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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.
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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.
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Car values continued to rise last week, marking the seventh week of rising car values, driven in part by the performance of sporty and mid-size cars, according to Black Book’s April 30 Market Insights report.
Read More →Hall of Fame quarterback, Bob Griese to keynote 2018 IARA Summer Roundtable.
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SUV segments drove auction volume in March, according to J.D. Power’s April Used Car and Light Truck Guidelines Industry Update. Luxury compact utility volume was up 71.7% and large utility volume was up 27.8%.
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