Remarketing professionals at several leading FMCs are observing a strong truck market in the wholesale market, a continued shift of fleet portfolios moving toward more crossovers/SUVs, and an increase in digital auction activity.
The shutdowns come to fight the spread of COVID-19/coronavirus after workers at multiple plants tested positive.
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.
These personalized vehicle suggestions are driven by M LOGIC, a suite of advanced decisioning products from Manheim that bring the power of Cox Automotive data to the remarketing industry.
Quanta Services has partnered with Ritchie Bros. to develop a new online inventory management system that will help improve how the company redeploys assets across its operating locations and subsidiaries.
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.
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.
In the 2019 fiscal year, the organization recorded more revenue, transactions, vehicles, locations, and customer miles logged than ever before.
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.
There is a lot that sellers — and buyers — should know about the pre-owned alt-fuel market before selling or purchasing alternative-fuel trucks.
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.
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.
Adjusted net income for the second quarter 2019 was $71 million.
Second quarter revenues featured a 2% increase in rental days.
Investors are encouraged to dial in approximately 10 minutes prior to the call.