The average sale price for used vehicles from fleet leasing consignors continued to outpace vehicles cosigned to auction by manufacturers and dealers in February, according to Tom Kontos, KAR's chief economist.
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The recipients of the recognition were David Vignes, KAR Auction Services president of remarketing services, and Kenny Jones, Cox Automotive Safety and Environmental senior director.
Read More →The new general managers will assume their roles at ADESA auctions in Las Vegas, Birmingham, Little Rock, Orlando, and Tulsa.
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ADESA has launched VirtuaLane auctions, a live in-lane auction virtual marketplace for customers at 20 of its physical auction locations.
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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.
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Online sales of used vehicles in the wholesale market likely exceeded 2 million in 2018, as remarketing technology made it easier for dealers to evaluate, bid, and buy vehicles beyond physical auction locations.
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The average prices for used fleet vehicles sold at auction increased 6.2% to $12,464 in 2018, despite a weaker finish to the year that saw a 0.4% decline in December, according to Tom Kontos, KAR Auction Services' chief economist.
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Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
Read More →KAR Auction Services, Inc. has promoted Peter Kelly from to its newly created role of president.
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The National Auto Auction Association (NAAA) named ADESA Winnipeg Auto Auction as its 2018 Auto Auction of the Year for Excellence in Community Service.
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