MANAGING 10-50 COMPANY VEHICLES
The passenger car segment was a main contributor to the the rise in used-vehicle prices in 2018.
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.
More SUVs, the retention of higher mileage vehicles, and new methods of remarketing are some trends fleets are observing in the wholesale market.
TradeRev started as a dealer-to-dealer mobile app, but has expanded its offerings to give more real-time auction access to commercial fleets and fleet management companies.
Used-vehicle values have held strong this year. A strong economy and more efficient remarketing strategies are helping make 2018 a banner year for used-vehicle values.
Vehicles that were taken out of commercial, government, and daily rental fleets and sold at auction in July were worth 8.1% more than they were a year ago and 0.4% more than in June, according to Tom Kontos, KAR Auction Services' chief economist.
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.
Your primary goal is to spec a truck to meet the intended job function, but how it is spec’ed has a direct bearing on future resale value. Therefore, it is similarly important to maintain a remarketing mindset when identifying specs.
At a fundamental level, the fleet management industry is an aggregator of data upon which it executes actions designed to optimize vehicle asset lifecycle – from acquisition to disposal – and to fine-tune operational efficiencies to maximize employee productivity. A cognitive computing platform, such as IBM Watson, would thrive in this type of data-rich environment.
Wholesale used vehicle prices rose for the sixth month in a row in October, increasing by 1.02%, according to Manheim’s October Used Vehicle Value Index. This brought the index to 136.3, an 8.1% rise from a year ago.