Your Top Resource for Consignor and Auction News
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.
The average value of used fleet vehicles increased 1.5% to $13,758 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.
