Rental risk units were up from a year ago due to mix shifts and mileage changes as well as a weakness in the used vehicle market last year, according to Manheim. The Manheim Used Vehicle Value Index stood at 124.6 for February.
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Manheim has opened its first auction in Arkansas with Manheim Little Rock, and will hold weekly sales. The company's expansion into Arkansas was driven by dealer demand in an under-served area in the U.S., the company said.
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Tim Meta, national remarketing manager of Fifth Third Bank, was honored with the Consignor of the Year award, while the Nichols family of BSC America received the honor of Remarketer of the Year. Both awards are sponsored by Bobit Business Media.
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Howse brings more than 30 years of automotive industry leadership to the role, which will focus on developing customer solutions that integrate KAR’s capabilities and businesses.
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Mike Hockett, who founded the Auction Broadcasting Company and ADESA, accepted the Ed Bobit Industry Icon award at a March 1 ceremony at the Conference of Automotive Remarketing (CAR) for his contribution to the industry.
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Retiring General Motors remarketing manager Dan Kennedy accepted the Industry Leadership award from Bobit Business Media at the 2017 Conference of Automotive Remarketing (CAR).
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Tony Moorby accepted the International Automotive Remarketers Alliance's (IARA) Circle of Excellence award for his contributions to the betterment of society and the remarketing industry at a luncheon preceding the opening of the Conference of Automotive Remarketing (CAR).
Read More →The RMS Automotive platform integrates with its OEM clients' technology, enabling commercial consignors to manage the complete vehicle lifecycle – from new car build to used car sale – as well as enhance the value of their remarketing inventory.
Read More →In January, all model classes showed month-over-month and year-over-year price gains — except full-size SUV/CUVs, according to ADESA. Overall, wholesale used vehicle prices were up 2.8% compared to December and up 6.7% year-over-year.
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For full-year 2016, Hertz Global Holdings Inc. has reported total revenue of $8.8 billion, a decrease of 2% from $9 billion for 2015. In 2016, Hertz’s net loss was $474 million compared to $115 million in 2015.
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