Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
Association of Fleet Professionals' board chair says the most popular fleet EVs have seen residual value reductions of 10-20% in the past 12 months.
With the move to virtual and digital solutions, auction companies are evolving to meet the changing needs of rental fleet customers, with a focus on new technology tools.
Broken down, government fleets were up 5.9% YOY, commercial fleets down by 0.1%, and rental fleet volume down 33% from last May.
Combined sales into large rental, commercial, and government buyers were down 30% year over year in February.
KAR will shed debt and can concentrate on digital sales, while Carvana gains access to more cars and dealer relationships. But questions remain.
IARA 20th Anniversary Issue: Industry observer, media figure, and conference host Charlie Vogelheim has circulated throughout the automotive world, qualifying him to sum up the legacy of the IARA.
IARA 20th Anniversary Issue: Chairman and immediate past President Paul Seger and current President Jeff Bescher see positive signs of a more stable vehicle marketplace ahead.
Commercial clients stand to benefit from more streamlined and standardized reporting and timely performance results.
The annual conference will offer plenty to talk about and act on as the remarketing industry strategizes for a reset marketplace.
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