News
Used EVs Strengthen Overall Electric Vehicle Market
The latest sales data point to several reasons for the divergent trends in new and used EVs that can factor into fleet cycling decisions.
Read More →The latest sales data point to several reasons for the divergent trends in new and used EVs that can factor into fleet cycling decisions.
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For the first quarter 2017, Hertz Global Holdings Inc. reported declines in revenue and earnings. Hertz’s total revenues were $1.9 billion, a 3% decline year-over-year, while adjusted earnings were negative $110 million — compared to positive $27 million in Q1 2016.
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Manheim has named Peter Grupposo as vice president of dealer sales and Holly Capps as vice president of inventory solutions commercial and wholesale sales, according to a company announcement.
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First announced in September of last year, Cars.com's separation from TEGNA as its own publicly traded company will be completed on May 31; shares of the new separate company will begin regular trading on the New York Stock Exchange (NYSE) the next day.
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Ron Shoemaker, who founded Flexco Fleet Services, is moving out of his role as CEO to lead The Hourglass Foundation, which he co-founded with son Chad, who will step into the top role with the remarketing company.
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Overall wholesale used-vehicle prices (on a mix-, mileage-, and seasonally-adjusted basis) improved 0.5% month-over-month in April. On a year-over-year basis in April, only pickups saw gains greater than the overall market.
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More than 100 auctioneers will compete in Manheim Pennsylvania Auto Auction's 2017 World Automobile Auctioneers Championship (WAAC) on May 12 during a one-day event to determine the best auctioneer, ringperson, and two-person team for $12,500 in prize money.
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Avis Budget Group has reported revenue of $1.8 billion for its first quarter 2017, a 2% decrease. This is primarily due to a 5% decline in pricing partially offset by a 3% increase in rental days.
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Vehicle manufacturers sold 12.2% fewer cars, trucks, vans, and SUVs to rental, commercial, and government fleet buyers in April compared to a year ago in what has become a softening market for new vehicle sales.
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Used vehicle values increased slightly in April as tracked by Black Book's Used Vehicle Retention Index that measures values of 2- to 6-year old vehicles, according to the company.
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Three people were killed and nine were injured as a result of a vehicle losing control during a sale at LynnWay Auto Auction in Billerica, Mass., the Chicago Tribune reported.
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