The deal will allow the operation to apply its blueprint and roadmap in southeastern Ohio.
Several ServNet auctions consigned roughly 8,000 vehicles during special events at a number of locations this summer, and the organization has plans to host more events in the coming months.
Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.
Fiat Chrysler Automobiles will establish its own captive finance company by 2022 in a move that could involve the purchase of Chrysler Capital from Santander Consumer USA, the companies have confirmed.
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.
Prices for vehicles from fleet lease consignors increased 6.6% in March and are 4.9% higher than a year ago driven in part by a strong spring selling season that boosted the values significantly from February levels, according to KAR Auction Services.
Consignors throughout the country have presented accolades to a number of ServNet auctions through the first four months of the year, according to a ServNet release.
Average wholesale prices for fleet lease vehicles were down 1.9% month-over-month, but up 0.4% year-over-year, according to Tom Kontos, KAR Auction Services' chief economist.
The International Automotive Remarketers Alliance (IARA) will be hosting its spring roundtable at Caesars Palace Las Vegas on March 5, and will be holding various sessions March 6-7, concurrent with the Conference of Automotive Remarketers.
Wholesale prices for fleet lease consignor vehicles fell 1.6% in October from the prior month and 4.5% higher than a year ago, Tom Kontos said in his monthly commentary.
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