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Used Fleet Vehicle Prices Fell 2% in October

The average price of fleet vehicles sold at auction in October fell 2%.

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.

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Used Values Stabilize After Big Drop

Overall, car segment values decreased by 0.41% last week, compared to 0.69% the week before....

Vehicle values were stable last week. Seasonal trends and lower demand have accelerated depreciation higher than where it’s been for most of the year, but this recent week represented an improvement over the market’s performance two weeks ago.

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Bobit Business Media Sold to Gemspring Capital

Bobit Business Media will remain headquartered in Torrance, California.

Bobit Business Media has been acquired by Gemspring Capital, a middle-market private equity firm. Bobit, which bought HDT in 2012, was founded by Ed Bobit in 1961 with Automotive Fleet and today is a successful business-to-business media company in the fleet, transportation, beauty, and law enforcement industries.