TradeRev chooses one of its co-founders who brings deep experience in the retail and wholesale sides of the automotive marketplace.
Combined sales into large rental, commercial, and government buyers were down 36% year over year in January. Sales into rental declined 61% YOY, sales into commercial increased 4% YOY, and sales into government declined 23%.
As was the case in each of the last prior months, much of the reported increase was a result of the seasonal adjustment.
One of the biggest changes to come out of the second year of the COVID-19 pandemic is dealers directly wholesaling from their lots.
The average 12-month depreciation through the end of November for all vehicles was 12.5%.
The average price for used fleet vehicles fell 2% at auction in October, but remained 6.1% higher than a year ago amid a strong month for wholesale prices, according to Tom Kontos, KAR Auction Services' chief economist.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In
