Analysis: The actions of the UAW will reverberate through the larger auto business, but nowhere near what was experienced in April 2020. Sales into fleet could suffer in 4Q if a strike is wide and persists. Rental car companies may return to the used car market like they did in 2021 and 2022, driving prices higher.
A widespread auction data report points to the key question of: will the overall upside market last?
Openlane will serve as both the parent company brand and the market brand for the company’s digital marketplaces in the U.S., Canada and Europe.
A recent auction industry quarterly report shows a mix of up and down indicators that add up to more market balance.
Online wholesale vehicle remarketer ADESA Europe will grow its reach into Denmark, Finland, Iceland, Norway and Sweden.
The pace of change in the used car market only seems to accelerate. How can fleets adjust?
Broken down, government fleets were up 5.9% YOY, commercial fleets down by 0.1%, and rental fleet volume down 33% from last May.
The Conference of Automotive Remarketing provided the ideal marketplace for industry businesses and attendees to see the latest in services and innovations for consignors and auctions.
Combined sales into large rental, commercial, and government buyers were down 30% year over year in February.
KAR will shed debt and can concentrate on digital sales, while Carvana gains access to more cars and dealer relationships. But questions remain.
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