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Merchants Hires New Remarketing Sales Manager to Meet Service Demands

Merchants Hires New Remarketing Sales Manager to Meet Service Demands

Merchants Fleet is expanding capacity for its in-demand commercial vehicle remarketing services and has hired Jesse Hopperstad as a remarketing sales manager, where he will be responsible for assisting new and existing Merchants Fleet clients in the Western half of the country with remarketing their vehicles.

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Used Fleet Vehicle Values Soften in November

Fleet vehicle values fell in November, but remain up 3% for the year to date.

Former fleet vehicles sold by KAR Global's ADESA remarketing unit fell 3.2% in value in November from the prior month but remain 3% ahead of a year ago partly due to a softening wholesale market.

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Used Fleet Vehicles Fall 0.6% in October

Used fleet vehicle values were slightly lower in October but performed better than other segments.

The values of vehicles sold at ADESA auctions from fleet consignors fell 0.6% to $13,309 in October but remain 2.4% higher from a year ago, according to Tom Kontos, KAR Global's chief economist.

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Used Fleet Vehicles Fall 1.6% in September

Former fleet vehicles fell 1.6% in September in wholesale sales.

The value of former fleet vehicles sold at physical auctions and through other wholesale channels fell 1.6% in September compared to August but were 0.9% higher than a year ago, according to commentary by KAR Global's chief economist.

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Used Fleet Vehicle Values Increase 4.1% This Year

Fleet consignors have seen a 4.1% increase in used vehicle values so far in 2019.

The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.

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In Memoriam: IFS Founder Tim Janssen

Tim Janssen, the retired president of IFS (Innovative Funding Services LLC), passed away on Aug. 14 in Largo Vista, Texas. He was 55. Janssen founded IFS in 2007 and served as president of IFS for more than 12 years until his retirement in Jan. 1.