Manheim will invest $13 million over the next three years in a wide-ranging program to create a safety culture at its auctions, the Atlanta-based company announced.
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Hertz's Q3 earnings are a 7% increase from the same time last year.
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Used vehicle prices reached $20,084 in the third quarter of 2018, representing a 3.5% year-over-year increase, and the highest price since 2005.
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Wholesale compact van values experienced the biggest decline at auction last week, depreciating 1.03% week-over-week.
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Revenues grew to a record $2.8 billion in the third quarter on both higher volume and increased underlying pricing in the Americas.
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Seasonal depreciation patterns are expected to take hold through the rest of the year, with vehicle values declining on a wider scale.
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Manheim has expanded its mobile auction network this year, and plans to expand its network further into new cities in the northeast, Midwest, mid-Atlantic, and southeast in order to meet dealer and consignor demand for remarketing options in those cities.
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Peterbilt announced a new warranty option for Red Oval Certified Pre-Owned truck customers.
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General Motors Financial Company Inc. reported operating lease originations for the nine months ended Sept. 30, 2018 at $17.3 billion, compared to $19.6 billion for the nine months ended Sept. 30, 2017.
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Commercial sales increased 10.3% in October, while sales to government agencies increased 1%. Sales into daily rental increased 0.2%.
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