Used Prices Rise on Strong Compact, Midsize Sedans Demand
Used vehicle prices are on the rise and that's unlikely to change in the near term, especially for compact and midsize sedans.
According to the latest data from Manheim, used vehicle values set a new record for the third month in a row, which is unusual. The abnormal summer bounce began in mid-June and drove prices higher for 11 straight weeks.
Read the article in The Detroit Bureau
All-Electric Volvo Trucks Coming To California Next Year
Volvo Trucks announced that it will begin testing eight multi-configuration battery Class 8 electric demonstration units using technology currently found in the Volvo FE Electric in California in 2019.
The company will deploy 15 more "precommercial and commercial units" throughout California's South Coast Air Basin as part of the project, which Volvo says will reduce 3,020 tons of greenhouse gases a year.
Read the article at Forbes.
Understanding the Value of Equipment Leasing in an Era of Rising Expenses and Changing Consumer Demands
By Anthony Sasso, Head of TD Bank Equipment Finance
The transportation industry is experiencing a fundamental shift as fleet companies are adjusting to increasing expenses and changing industry dynamics.
Fuel prices have surged, wages have increased due to the driver shortage, and the federal funds rate, which has surfaced from historic lows, is expected to continue to rise.
To stay competitive, fleet companies are looking to acquire capital equipment that mitigates expense and meets the ever-changing consumer demands. And with the rapid pace of technological and efficiency improvements, such as increased mileage per gallon, collision avoidance, automatic transmission and alternative fuel options, many companies are looking to engage in shorter term lease options. According to 63% of fleet managers surveyed in April at the NAFA Institute & Expo, the expected cycle of upgrading to newer trucks and trailers will be shortened in the next three to five years.
Brian DeFoney Joins Merchants Fleet Management
Merchants Fleet Management is pleased to announce Brian DeFoney has joined their team as Regional Sales Manager. His territory will be focused on Michigan, Indiana, Illinois and Missouri.
“We’re excited to have Brian as part of the Merchants sales team,” said Jon Keller, Regional Vice President, East Region. “His extensive experience in fleet sales and his excellent record with customer retention make him an outstanding addition to the company.”
A Smartphone-Like Ecosystem Could Unlock the Winner in the EV Race
Cars, SUVs, crossovers and trucks certainly could be the “ultimate mobile devices” if automobiles and the transport industry learned how to develop and leverage a “smartphone ecosystem” for electrified vehicles, integrating the emerging trends of autonomous, connected and shared vehicles.
The value lies in the seamless integration of renewable energy, connectivity, access to charging networks, smart use of parking and people-friendly spaces in cities, recognition of more fleet operators and the myriad of technology enablers required for self-driving. Some have claimed that a car is only a smartphone on wheels.
Read the article at Forbes.
