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The average value of used fleet vehicles increased 1.5% in June from May, but remain 4.3% higher than a year ago, according to KAR Auction Services' ADESA unit.
Used vehicles from fleet consignors in ADESA sales increased 2% in May to $14,043 and were 5.5% above a year ago, according to monthly commentary from Tom Kontos, chief economist for KAR Auction Services.
Over the past three years commercial remarketers have cut the time it takes to sell a vehicle from the moment it arrives at auction by five days.
Volvo Trucks and Mack Trucks are offering factory-backed warranties for each brand’s certified pre-owned trucks.
Used vehicles from fleet consignors in ADESA sales increased 4.3% to $13,771 in April compared to March, and were up 4.4% from a year ago, according to monthly commentary from Tom Kontos.
Following this Q1 start, the managing board of Sixt confirms its outlook for the entire fiscal year of 2019 and plans investments of around 8 billion euros ($9 billion).
Total U.S. rental car revenues increased 7%, compared to the first quarter of 2018.
The 2019 Consignor of the Year award was given to Chris Clarke of ARI this year. He spoke with Automotive Fleet to talk about his win, the remarketing industry as a whole, and ARI's remarketing operations.
Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.
Current sales of electric vehicles are largely driven by incentives, and while incentives help move the metal on the new-vehicle front, they have a negative effect when it comes to residual values.
Peterbilt has expanded its 90-day Vehicle Assurance Warranty to cover all Peterbilt Red Oval Certified trucks.
The cars, yellow with black stripes, were placed at airports throughout the country and rented out to travelers last year.
Revenues grew 2% to $2.1 billion in the fourth quarter and 3% for the full year to $9.1 billion.
The average prices for used fleet vehicles sold at auction increased 6.2% to $12,464 in 2018, despite a weaker finish to the year that saw a 0.4% decline in December, according to Tom Kontos, KAR Auction Services' chief economist.
Used Class 8 truck volumes, based on same dealer sales, fell for the second straight month in December while average pricing increased.
