SAFETY, US ECONOMY TOP OF MIND. With the end of the year fast approaching our Q4 Fleet Manager Sentiment Index shows that while top fleet managers feel much the same about our basket of 7 key indicators, conversations with them are starting to expose some divergence in their thinking and concerns about some of the potentially more critical categories like safety and the US economy, with one of our customer advisors saying the economy “felt like 2008 all over” as tariffs and a long few years of high interest rates have stifled growth. Fleet managers also continue to be negative on talent availability – especially when it comes to drivers – as well as expressing concerns about vehicle service and maintenance, citing rising costs and increased repair times as especially concerning. *Mouse over any quarter to see its specific chart.
In 2024, the wholesale used vehicle market returned to more “familiar” patterns after years of volatility. Values declined about 15% across most classes, with smaller vehicles holding value better than larger ones. High-mileage, lower-quality units were abundant, while newer, low-mileage vehicles remained scarce—a trend expected to persist in 2025. Economic uncertainty, interest rates, and a […]
The 2024 White Metal Market Report (Q3) highlights a stable yet uncertain used vehicle market. While consumer spending remains strong despite inflation and high interest rates, economic uncertainty lingers, and any major disruption could push the market downward. Housing prices are rising, unemployment is slightly up, and a strong U.S. dollar is limiting international demand. […]
The 2024 White Metal Market Report (WMMR) provides a detailed review of the used vehicle market, which has stabilized after a challenging start to the year. While prices softened by about 10% in the third quarter compared to 2023, trends vary across segments. Passenger and light-duty vehicles remain in steady demand, while larger vehicles, such […]
Fleet managers face challenges with visibility during the remarketing process, particularly after the pandemic, leading to costly consequences like selling assets for less than their worth. This issue is exacerbated by the geographical spread of fleets and the complexity of managing assets remotely. Despite using advanced software, fleets often struggle to track assets’ locations and […]
Remarketing used fleet assets is fraught with risks, including potential financial losses, extended remarketing timelines, and hidden costs that erode return on investment (ROI). The pandemic exacerbated these issues, with many fleets holding onto aging vehicles due to supply chain disruptions and a lack of replacements. Vehicles now often exceed 12 years in age, increasing […]
The Q2 2024 White Metal Market Report reviews the state of the used vehicle market and offers predictions for the rest of the year. The used vehicle market, particularly affected by the pandemic and supply chain disruptions, shows signs of stabilizing in 2024. Although the year started slowly, the market picked up in spring, and […]
As he has the last 3 years, our Director of Business Development Richard Mallek was asked by industry bible Fleet Management Weekly to give us thoughts on this year’s Work Truck Week conference and some of the new innovations he saw while there. Must see!
This White Metal Market Report provides an overview of the 2023 fleet and wholesale used vehicle market, as well as predictions for 2024. The year started steadily, with vehicle pricing and volume aligning with 2022 trends. However, by May, the market saw a sharp decline in wholesale vehicle prices, which dropped by around 10%. This […]
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