Wholesale vehicle prices for former fleet vehicles at auction increased 0.8% in May from April and have increased 6.8% from a year ago in a "seasonally strong" market, according to Tom Kontos, KAR Auction Services' chief economist.
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Off-lease vehicles from fleet consignors in the rental, commercial, and government sectors increased 2.3% in April from March and increased 5.8% from a year ago, according to analysis from KAR Auction Services.
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Disruption in the automotive industry will affect many businesses with close ties to it, including those in wholesale remarketing, health care, and accident litigation.
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With an eye toward the future, Costabile focuses on relationship building, networking, and growth.
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Late-model auction volume was down 1.6% year-over-year in April, according to J.D. Power’s May Used Car and Light Truck Guidelines.
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Bobit Business Media's VehicleRemarket.com has undergone a complete redesign that makes the website a robust, efficient resource for consignors, auctions, and other remarketing professionals.
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The last 2018 Dodge Challenger SRT Demon and 2017 Dodge Viper will be auctioned off at Barrett-Jackson's Northeast auction as part of a charity sale, according to the auction company.
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Used-vehicle sales will rise and new-vehicle sales will fall in 2018, while total sales will reach 56.2 million, which would represent a second year of declines for the automotive industry, according to a Cox Automotive forecast.
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Average wholesale car segment values were down last week, breaking a two month streak of rising car values, according to Black Book’s May 14 Market Insights report.
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Merchants Fleet Management has hired a regional sales manager for northern and central California and a manager for its Merchants GuaranteeTRAC resale program, the fleet management company announced.
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