Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
A widespread auction data report points to the key question of: will the overall upside market last?
With the move to virtual and digital solutions, auction companies are evolving to meet the changing needs of rental fleet customers, with a focus on new technology tools.
A recent auction industry quarterly report shows a mix of up and down indicators that add up to more market balance.
Broken down, government fleets were up 5.9% YOY, commercial fleets down by 0.1%, and rental fleet volume down 33% from last May.
The Conference of Automotive Remarketing provided the ideal marketplace for industry businesses and attendees to see the latest in services and innovations for consignors and auctions.
Combined sales into large rental, commercial, and government buyers were down 30% year over year in February.
KAR will shed debt and can concentrate on digital sales, while Carvana gains access to more cars and dealer relationships. But questions remain.
IARA 20th Anniversary Issue: While the marketing, social media, and press/PR committees focus on specific roles and functions, their results all overlap toward the wide-reaching goal of spreading the consignors' voice.
IARA 20th Anniversary Issue: The purpose of the annual awards is to encourage and publicize excellence among remarketing professionals while setting examples for others to follow.
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