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.
Key reasons: Prices paid moved higher, incentives declined, and estimated median incomes fell.
The fleet management company's new vehicle remarketing program shortens the needed selling time.
According to the mid-month Manheim Used Vehicle Value Index average mileage for rental risk units in the first half of January — 49,800 miles — was down 3% compared to a year ago and down 4% month-over-month.
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