MANAGING 10-50 COMPANY VEHICLES
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.
While the effect that Hurricane Irma had on Insurance Auto Auction's and Copart's operations in Florida was relatively mild, Houston was a different story.
By implementing one or two new strategies — such as timing sales based on mileage or seasonality, expanding sales channels, or considering purchasing options — small fleet operators can return more money to their fleet’s bottom line.
On Carfax and AutoCheck’s vehicle history reports, the category “Total Loss” is often used for vehicles that are satisfactorily repaired. Is that fair?
The depreciation rate for cars is expected to outpace trucks and vans, which will be aided by strong demand from small fleet buyers.
Fleet Professionals have to not only be able to please executives, but also adhere to the company's bottom line when managing an executive fleet.
Many of the dynamics in today’s market are eerily familiar to the resale value softness that occurred in the last decade, which ultimately peaked in 2002. At that time, year-over-year increases of off-lease vehicles entering the wholesale market exerted downward pressure on resale prices. It appears that we are on the same trajectory, with off-lease volumes peaking in 2016. What are you doing to prepare for these different market dynamics?
If you asked fleet managers what the industry average is for personal use of company vehicles, most would say it is approximately 15-18 percent. But, is it? Most of us will agree that some drivers fudge their personal-use mileage, but no one knows by how much. There is a growing suspicion that personal-use mileage is far greater — perhaps substantially greater — than what the industry accepts as conventional wisdom.