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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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A record number of newer model year off-lease vehicles returning to dealer lots this year will be putting significant upward pressure on the late-model used market, according to the February 2017 Edmunds Used Vehicle Market Report.
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The service from Enterprise Rent-A-Car generated $575 million in loan volume to more than 31,000 credit union members during 2016 — a 15% increase in loan volume compared to the previous year.
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Small and large pickups were among the top performing segments in January with a 1.1% depreciation rate among two- to six-year-old vehicles sold in auction lanes, according to Black Book.
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The National Auto Auction Association (NAAA) estimates that its members sold 9.9 million vehicles in 2016, a 6% improvement over the year before, according to Manheim’s 2017 Used Car Market Report.
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On a year-over-year basis, 2017 started the same as all of 2016 — trucks and vans up and cars down, according to Manheim. New vehicles sales into rental declined by approximately 7% in January compared to January 2016.
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Cox Automotive has awarded Linda Silverstein, general manager, remarketing and rental operations, Ford Motor Company, as this year’s Barbara Cox Automotive Woman of the Year.
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Toyota, Porsche, General Motors and Subaru were some of the big winners in Kelley Blue Book’s 2017 Best Resale Value Awards, annual awards that recognize vehicles expected to best retain their value over the first five years of ownership.
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In December, the average mileage on rental risk units sold (38,600 miles) was similar to recent months, but it was 13% lower than a year ago, according to Manheim. The Manheim Index for December finished at 124.9, a decline of 0.6% year-over-year.
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The merger will consolidate the fleet-related services of both companies with the goal of targeting new markets and service lines.
Read More →A new threat to used vehicle prices seems to be arising from increased new vehicle incentives, which have been relatively benign through this cycle of price softening.
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