Roger Penske on How His Dealer Group Gained Used Car Profits

Penske Auto Group increased used vehicle revenue 21.9% during the fourth quarter of 2013 – and reached $1.1 billion in used vehicle sales revenue during that time period. When asked by investors during the quarterly conference call on how this was accomplished, here’s what Chairman Roger Penske had to say: Internet sales have helped move […]

Manheim Used Vehicle Value Index – January 2014

Manheim’s Index reached 122.3 in January 2014 – 0.5% over prior month and 0.9% decline from year ago
Not surprising to see uptick in January even though general consensus is that wholesale used vehicle prices will be dropping this year
Recent price increase consistent with strong retail used vehicle profits that dealers earned in Q4 2013, and looked to be continuing to earn in January

PHH May Sell Fleet Business, Mortgage Business, or Both

Company cites desire to maximize shareholder value

PHH Corporation's fleet business continued to rack up "solid results" last year, and the company announced that - despite an uptick in fleet segment sales and profits in 2012 - it has retained J.P. Morgan Securities LLC, Centerview Partners LLC, and Kirkland & Ellis LLP to assist in exploring ways to maximize shareholder value through the separation or sale of the Company's fleet business, its mortgage business, or both.

PHH's VP of Corporate Communications, Dico Akseraylian, reassured the company's customers that "the recent announcement has absolutely no impact on the focus and commitment of our Fleet business. Our customers and their drivers remain our top priority. Our focus is squarely on continuing to deliver leading fleet management solutions for customers that drive their businesses forward, including raising the bar on customer service and developing new tools and technology."

Study: High Satisfaction Among Fleet GPS Operators

Study Shows High Satisfaction and Continuing Strong Intent to Purchase GPS Fleet Management Systems among Fleets in a Wide Range of Categories

C.J. Driscoll & Associates, a leading supplier of market research and consulting services for the GPS and wireless communication industries, has released a new multi-client marketing research study covering interest, use, and satisfaction of U.S. fleet operators with Mobile Resource Management systems and services.

CAFE′ chase at root of problem? Smaller engines, along with transmission problems lead to first decline in 15 years.

For the first time in 15 years, the overall dependability of vehicles has slipped as measured by J.D. Power & Associates’ annual U.S. Vehicle Dependability Study, which was conducted late last year among 41,000 customers who have vehicles from the 2011 model year. Overall vehicle dependability, as measured by Power, fell 6% from last year’s study.

Dependability is a major determinant for fleets as well as consumers considering their next vehicle selection. More than 50 % of owners who report trouble free ownership remain loyal to that brand, and nearly 20% will avoid brands that rank in the bottom 25% of the J.D. Power study.