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Rental Fleet Sales Skating Just Above 2025 Levels
The U.S. economy's continued growth and positive business investment are creating a favorable environment for fleet vehicle demand.
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SEARCHMENUSEARCHThe U.S. economy's continued growth and positive business investment are creating a favorable environment for fleet vehicle demand.
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Some 600,000 to 1 million vehicles were severely damaged or lost as a result of Hurricanes Irma and Harvey, resulting in a spike in vehicle sales and buoyed depreciation.
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Enterprise Holdings will recognize 14 automotive auction partners with its 2017 Auction Achievement Awards.
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Vehicles over 100,000 aren’t depreciating at the same as they used to due mostly to a tight supply of late-model used vehicles, according to Edmunds’ Q3 Used Vehicle Market Report.
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Wholesale used vehicle prices rose for the sixth month in a row in October, increasing by 1.02%, according to Manheim’s October Used Vehicle Value Index. This brought the index to 136.3, an 8.1% rise from a year ago.
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Both cars and trucks saw a noticeable rise in depreciation last week, according to Black Book’s Nov. 6 Market Insights report.
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The firm attributed the strong vehicle retention in October to increased replacement activity stemming from Hurricanes Harvey and Irma. However, the increased replacement activity seen in October is expected to be the last boost to come from the hurricanes.
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Average wholesale values saw little change last week compared to the week before it, with depreciation falling in both the car and truck segment, according to Black Book’s Oct. 30 Market Insights report.
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Depreciation trends for both car and truck segments are seasonally lower than what is normally expected this time of year, according to Black Book’s Oct. 23 Market Insights report.
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The average price of used vehicles model years 2012-2016 fell 0.7% in September, with the lion’s share of that depreciation coming from the car segment, according to Black Book. As of September, all vehicles are averaging a 12-month depreciation of 14.5%.
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Wholesale used vehicle prices rose 2.77% in September on a month-over-month basis, which drove Manheim’s Used Vehicle Value Index up 6.3% from a year ago to 134.9, marking five months of consecutive growth.
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