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.
Vehicles from fleet consignors followed the broader used-vehicle market downward in September, as wholesale prices struggled to keep up with last year's hurricane-driven demand and a now robust upstream market, said Tom Kontos, KAR Auction Services' chief economist.
More SUVs, the retention of higher mileage vehicles, and new methods of remarketing are some trends fleets are observing in the wholesale market.
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.
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