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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Both the car and truck segments experienced an overall reduction in depreciation during the week of Oct. 28. Overall truck wholesale values decreased by 0.58% during that week, compared to 0.76% the week before. For cars, overall wholesale values decreased by 0.53%, compared to 0.80% the previous week.
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Hertz Global Holdings Inc. has reported revenue of $2.5 billion for its third quarter 2016, a 1% decline compared to last year, due to higher vehicle depreciation and a decline in rate per day.
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Depreciation for 1- to 5-year-old vehicles saw a significant increase to 2.9% for October from the 2.3% September rate with passenger cars seeing greater weakness, according to Black Book.
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Enterprise Holdings and Enterprise Fleet Management increased revenue 8.1% to $20.9 billion for the 2016 fiscal year for its rental and fleet management businesses, the privately-held company has announced.
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Manheim has hired Aaron Cervantes as its assistant general manager of customer at its Riverside, Calif., auction facility, the company announced.
Read More →The XLerate Group has added a new reconditioning center to its Charleston Auto Auction in South Carolina that will expand services for dealer and institutional clients. The 6,500-square-foot center opened on Nov. 3.
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ADESA has officially opened its new ADESA Chicago auto auction, a location that cost the company $40 million to develop, according to a company announcement.
Read More →ServNet Auctions and Automotive Finance Corporation are offering dealers the opportunity to floorplan their purchases with AFC for up to 90 days for an exclusive promotional rate of $90.
Read More →The estimated average transaction price for a light vehicle in the U.S. in October was $34,663, a 2.3% increase over the same time last year, according to Kelley Blue Book.
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Pricing for car and truck segments weakened heading into the fourth quarter, which is typical this time of year. Crossovers and SUVs led the way with the highest value decline last week — the full-size crossover/SUV segment fell 1.12%.
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