Vehicles from fleet consignors increased 1.5% in value in August compared to July.

Vehicles from fleet consignors increased 1.5% in value in August compared to July.

Screenshot via KAR Auction Services.

The average value of used fleet vehicles increased 1.5% in August from the prior month and are now up 8.5% from a year ago, according to Tom Kontos, KAR Auction Services' chief economist.

Fleet lease vehicles were below used vehicles from manufacturers, which increased 3.2% on the month, but are up only 2% from a year ago. Vehicles from dealer consignors increased 1.9% from July and are up 0.6% from August 2017.

Overall wholesale values increased 1.4% to $11,049 and were up 0.9% on the year. Used cars were up 2.2% for the month, while truck values increased 1%, which indicates a "better supply-demand balance," Kontos said.

From a year ago, segments that typically have fleet vehicles, including midsize cars and midsize SUVs increased 7% to $12,460 and 5.6% to $20,932 respectively.

Originally posted on Automotive Fleet

About the author
Staff Writer

Staff Writer

Editorial

Our team of enterprising editors brings years of experience covering the fleet industry. We offer a deep understanding of trends and the ever-evolving landscapes we cover in fleet, trucking, and transportation.  

View Bio
0 Comments