Fleet Costs Spike in First Quarter 2024
According to Vincentric, fleet costs per mile in all five vehicle categories accelerated higher in the first quarter of 2024 compared to the fourth quarter of 2023.
According to Vincentric, fleet costs per mile in all five vehicle categories accelerated higher in the first quarter of 2024 compared to the fourth quarter of 2023.
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Fleet/lease sales were responsible for the increase in auction volume in the first quarter as dealer sales fell 5.4% YOY and fleet/lease sales rose nearly 29%.
The charity events included more than 2,000 classic, specialty, and exotic vehicles that raised $86,000 to provide recreational opportunities.
The average daily sales conversion rate increased to 62.5%, showing that demand improved relative to February.
The veteran leaders bring a combined 60 years of experience at Manheim and worked their way up through formative roles in auction operations.
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The devices will capture electric vehicle battery health information and transmit that information to Manheim CRs and vehicle detail pages, where battery health information will be displayed on Manheim.com listings.
The company’s SmartHaul TMS platform allows dispatchers to send SMS and MMS messages seamlessly to any device or app drivers are using.
Prices in all vehicle market classes dive by double-digit teen percentages with electric vehicles down the most by 19% compared to March 2023.
Total days’ supply at the start of March fell to 44, compared with the revised 53 at the beginning of February, a 20% decline.
With new-vehicle inventory rising in the U.S., downward price pressure and higher incentives appear to be key drivers of the market’s momentum.
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