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Avis Reports Year-End Revenue of $9.1B
Revenues grew 2% to $2.1 billion in the fourth quarter and 3% for the full year to $9.1 billion.
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Revenues grew 2% to $2.1 billion in the fourth quarter and 3% for the full year to $9.1 billion.
Bidding was strong ahead of presidents day, which helped truck and car used values improve slightly last week.
The average sale price for used vehicles from fleet leasing consignors increased 1.9% to $12,706 in January from the prior month and 3.9% from January of 2018, according to Tom Kontos, KAR's chief economist.
Three trucks and SUVs were listed as having the highest depreciation after a year in a recent report from iSeeCars.
This growth was in large part fueled by the strong performance of lower-priced vehicles. Compact cars and midsize cars, in specific, saw the strongest growth among all vehicle segments and outperformed the overall market.
Subcompact crossovers, compact luxury crossovers/SUVs, and compact vans fell by 1.78%, 1.61%, and 1.55% last week, representing the highest depreciation among all vehicles.
The Bank of America digital car shopping and financing platform will now add more than 15,000 Carvana vehicles to its existing inventory of both new and used vehicles.
The addition of the new location was motivated, in part, by the company's commitment to adding vehicle storage capacity in California, said Copart CEO Jay Adair.
The two months of falling vehicle values may be an indicator of what depreciation might look like in 2019.
Depreciation for cars grew slightly last week, but overall values are continuing to stabilize, according to Black Book's Feb. 4 Market Insights report.