Off-lease fleet vehicles sold in the wholesale market at auction fell 1% in value in June from the prior month but increased 7% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.
The National Auto Auction Association will begin raising awareness among its members about dealing with open recalls on vehicles that are sold at wholesale auctions under a new partnership with the National Safety Council.
All vehicles are Avis Certified — meaning they have passed a rigorous multi-point, bumper-to-bumper inspection process completed by certified mechanics, including ASE-Certified and ASE Master Technicians.
Enterprise Car Sales has joined the SiriusXM Pre-Owned Program, meaning that customers who purchase a used vehicle from an Enterprise Car Sales location will be offered a three-month subscription to SiriusXM’s All Access audio package, according to a company announcement.
The used-vehicle industry reached a record-breaking 39.2 million in sales in 2017, representing a 1.6% year-over-year increase, according to the latest Used Car Report from Edmunds.
iBidSmart has launched a new platform that allows rental car companies to auction wholesale inventory directly to dealers.
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.
While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.
The 2016 Conference of Automotive Remarketing (CAR) took place March 16-17 at Caesars Palace, Las Vegas. Now in its 21st year, CAR delivered high-quality discussions and information on subjects ranging from automating the if-bid system to how to maximize auction earnings to a look forward to residual values for 2016-2017. In addition, attendees had plenty of opportunities to network and build their personal and professional connections. Photos by Chris Wolski and Steve Reed.
The South American automotive market has tremendous potential. IHS Insights forecasts the continent’s automotive market will grow significantly by 2025, becoming one of the top three growth markets globally for light-vehicle sales.
The Conference of Automotive Remarketing (CAR), which is produced by Bobit Business Media, publisher of Automotive Fleet, celebrated its 20th anniversary with special events and contests — and a cake provided by sponsor ServNet.
At the ADESA Auto Auction in Mira Loma, Calif., car rental companies received updates on Toyota’s repurchase programs and attended a condition report demonstration. Photos by Chris Brown.
A car rental operator is interested in learning more about the terms of repurchase programs and how he can take advantage of them.
The overall fleet vehicle market depreciated by 12.1% over the previous year; however, the depreciation rate for cars was 14.8% and is expected to increase in 2015.
Next year's wholesale market will see more off-lease and program vehicles in the market, as well as competition from incentivized new cars. Are you up for the new remarketing challenges?
The 2016 Conference of Automotive Remarketing (CAR) took place March 16-17 at Caesars Palace, Las Vegas. Now in its 21st year, CAR delivered high-quality discussions and information on subjects ranging from automating the if-bid system to how to maximize auction earnings to a look forward to residual values for 2016-2017. In addition, attendees had plenty of opportunities to network and build their personal and professional connections. Photos by Chris Wolski and Steve Reed.
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