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Used Class 8 truck volumes, based on same dealer sales, fell for the second straight month in December while average pricing increased.
Asset disposition solutions provider Remarketing by Element, a business unit of Element Fleet Management, has joined the National Independent Automobile Dealers Association's network of National Member Benefit partners.
Overall average wholesale prices softened in November from a year ago mostly due to 2017 prices that were elevated due to increased demand from hurricanes Harvey and Irma, even though values of former fleet vehicles increased, according to Tom Kontos, KAR Auction Services' chief economist.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
A significant part of the automotive value chain, Enterprise’s operations result in over 1 million used vehicles that become available for sale every year.
Hertz's Q3 earnings are a 7% increase from the same time last year.
Revenues grew to a record $2.8 billion in the third quarter on both higher volume and increased underlying pricing in the Americas.
Commercial sales increased 10.3% in October, while sales to government agencies increased 1%. Sales into daily rental increased 0.2%.
Matt Dyer was previously the managing director for LeasePlan UK, and has more than 20 years of experience working for the fleet management company.
Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
The Mt. Vernon, N.Y., mayor alleges that a city bucket truck was repossessed because the city comptroller refused to pay the bills.
More SUVs, the retention of higher mileage vehicles, and new methods of remarketing are some trends fleets are observing in the wholesale market.
In the interim period prior to Jamere Jackson formally joining Hertz, Robin Kramer, currently Hertz's senior vice president and chief accounting officer, will assume the additional role of acting CFO effective immediately.
Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.
