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The 2019 Conference of Automotive Remarketing is less than two weeks away, and this year, the annual conference will feature a panel discussion led by managers of some of the leading commercial fleet leasing companies.
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.
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.
Cox Automotive's dealer technology unit vAuto has acquired iReconCars and relaunched the reconditioning management platform as iRecon to help dealers and other partners improve used vehicle reconditioning efficiency and speed, the company announced.
Manheim has named Fredrick Standfield as senior vice president of its assurance and reconditioning group, according to a company announcement.
Manheim has promoted four of its associates to general manager and expanded the roles of another, the auction company has announced.
Prior to 2018, sedans at auction had experienced three years of consecutive value declines. For sedan-heavy fleets, this may have meant an impact to total cost of ownership for those vehicles, as profits from remarketing them would have suffered. Now companies with sedan-heavy fleets may be finding that a window of opportunity to remarket those vehicles for better profit has emerged.
This investment follows years of online sales growth for Manheim. During the first half of 2018, digital sales for Manheim grew by 45% year-over-year. In 2017 sales were up 39% year-over-year during the same time period.
Segments such as compact cars and mid-size cars are outperforming the overall market. Meanwhile, vans, utility vehicles, and pickups are under performing the overall market.
After the heavy rains brought by Florence to the Carolinas stopped, estimates about the number of vehicles that were destroyed by the storm began to roll in that made it clear the storm would have far less of an impact that the pair of storms that reached Texas and Florida a year ago.