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The value of used fleet vehicles sold in wholesale channels increased 0.4% to $13,812 in July and are now up 4.1% through the first eight months of 2019, according to Tom Kontos, chief economist for KAR Auction Services.
Depreciation among car and truck segments improved slightly last week, but overall remains fairly stable, according to Black Book's July 29 Market Insights report.
Black Book's latest Used Vehicle Retention Index for June (115) shows a 0.6% increase from May (114.4), which reflects an incremental improvement in used vehicle values.
Used vehicles from fleet consignors in ADESA sales increased 2% in May to $14,043 and were 5.5% above a year ago, according to monthly commentary from Tom Kontos, chief economist for KAR Auction Services.
Over the past three years commercial remarketers have cut the time it takes to sell a vehicle from the moment it arrives at auction by five days.
Spring has come to an end, with cars declining in values greater than trucks.
Sedan wholesale values are expected to improve as more SUVs and crossovers return to the used market. Meanwhile, SUV and crossover wholesale values are beginning to decline
The 2019 International Automotive Remarketers Alliance (IARA) Spring Roundtable was co-located with the 2019 Conference of Automotive Remarketing at the Caesars Palace Las Vegas.
The 2019 Consignor of the Year award was given to Chris Clarke of ARI this year. He spoke with Automotive Fleet to talk about his win, the remarketing industry as a whole, and ARI's remarketing operations.
Fleet management company remarketers discussed trends affecting their day-to-day jobs and the industry as a whole.