Eric Gandarilla works on Automotive Fleet and Vehicle Remarketing.
Companies such as Manheim and ADESA have invested time and money to bolster the digital side of their business to meet the demands of this growing field, and so have fleet management companies.
Online remarketing has been a growing trend for the past few years and it promises to continue. As more remarketers are selling and buying wholesale vehicles online, some new trends have emerged.
The outlook for the 2020 used market is positive, at least according to three remarketers from three fleet management companies.
Kenneth Jack, a 25-year fleet industry veteran was awarded the 2019 Fleet Executive of the Year award. Jack has held various fleet positions throughout his career and currently serves as VP of Fleet Operations for Verizon.
Through the 12-month period ending in June 2019, overall manufacturer incentive spend has declined, and the strength of fleet sales this year has been a big reason why.
Change is constant in the remarketing industry, and 2019 continues to see new trends emerge. Here are four trends that remarketers should have on their mind.
Overall used vehicle values are at strong levels. Crossover values are holding steady but there is cause for concern in the near future. Sedan values are expected to improve or stabilize as more crossovers enter the market.
Fleet managers are constantly tasked with coming up with new ways to reduce costs. Two fleet industry professionals present multiple strategies to help facilitate that goal.
Over the past three years commercial remarketers have cut the time it takes to sell a vehicle from the moment it arrives at auction by five days.
Sedan wholesale values are expected to improve as more SUVs and crossovers return to the used market. Meanwhile, SUV and crossover wholesale values are beginning to decline
Outside factors such as a record-spanning government shutdown, the polar vortex, and a hit to consumer confidence led to a slow start to used sales in 2019.
Prices and volume are not expected to plummet in 2019, but industry experts seem to feel that the best-case scenario will be a plateau, and more realistically, will fall slightly.
Using telematics and fuel card integrations, a fleet manager identified driving habits that helped improve one of his truck's cost per mile.
Deprecation was low through most of 2018. Segments such as sedans performed better than they have in years past, while trucks and SUVs continue to retain their values well.
AUX Home Services has used its new telematics platform to improve the number of appointments its fleet drivers are able to accomplish per day. The company has also been able to improve its on-time performance.
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