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The spring / tax season market uptick helped make March a strong month for used vehicle sales, and late-model sedans from fleet leasing consignors continue to outperform their SUV/CUV counterparts, according to Tom Kontos, KAR's chief economist.
Overall truck segments are declining but some truckmakers saw increases of up to 5% due to new 1/2-ton pickups.
View photos from the 2019 Conference of Automotive Remarketing, which took place from March 25 to 27 at Caesars Palace Las Vegas.
Westlake Financial Services has selected America's Auto Auction Harrisburg as its auction of the year and named five auctions that were the top in their regions in 2018.
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.
A steady supply, thriving shipping market, and increased demand helped stabilize wholesale values going into 2019.
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.
Volume-weighted, overall truck segment (including pickups, SUVs, and vans) values decreased by 0.42% last week. In comparison, the market values decreased by 0.58% on average during the prior four-week period.
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.
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.