Fleet Professionals Share Ideas, Find Solutions at IFA

Giovanni Tortorici, Phil Russo, Ermanno Molinari, and Joe LaRosa pose for a handshake at NAFA's International Fleet Academy. Their smiles reflect the buoyant mood at the event -- where speakers and attendees enthusiastically interacted in a workshop setting to share ideas and find solutions. It was networking nirvana!

Auction Values – Calendar Year 2011 to 2013

• Auction values have dropped about 1.7%, or nearly $285, since late September 2013
• However, auction values are still doing pretty well on year-over-year basis
• Current auction average price about $220 more than they were a year ago

Nearing 75, Wheels’ Original Value Proposition Still Resonates

Wheels, Inc. will celebrate its 75th anniversary next year. Zollie Frank and Armund Schoen founded the venerable company in 1939 and in doing so, created the fleet leasing industry. When we asked Scott Pattullo, Senior Vice President of Sales, Marketing & Account Management, to tell us what makes Wheels successful today, he said, "To me, it is about the consistency of the values. It is about the customer service values; about understanding that we are a service company and we only get to survive if we serve our clients well, if we treat them well, if we bring value to them, if we serve them however they want to be served."

How Avis Budget Group is Changing Car Rental Remarketing

Remarketing has been changing for the car rental industry in recent years – with less volume going through auctions and more emphasis on upstreaming. Automakers are keeping fleet sales limited, too.

That’s improving conditions for used vehicle prices.

Avis Budget Group is showing significant signs of how car rental companies have been rethinking their role in the world of used vehicle remarketing.

During a third quarter call, executives explained how the car rental company “cascades” cars between its Avis, Budget, Payless, and Zipcar brands for maximum usage.

About half the cars go to auctions, and the other half go directly to dealers and consumers.

Read how car rental companies are rethinking their strategies for renting and remarketing cars…….

Kelley Blue Book Analyzes October Wholesale Market Prices

Kelley Blue Book tracked wholesale used vehicle trends in October in its latest edition of Blue Book Market Report. Values are still performing well on a year-over-over year basis. Here’s some of the significant market trends reported……