October 20th, 2023
As we quickly approach the end of the year, many organizations are working to balance their budgets and position their business for success in 2024 (and beyond). From a fleet perspective, this often entails looking at excess or underutilized assets that could be liquidated to general capital that can be reinvested in your operating budget.
With that in mind, Holman’s Jim Jackson recently spoke with Autosphere to examine some of the latest remarketing trends and offer some advice for fleet operators who may be looking to take advantage of an exceptionally strong resale market. In the article, Jim notes that while supply constraints have pushed the secondary market higher, vehicle condition is still the primary factor that influences resale value, and for most fleets, drivers are often the x-factor in this equation.
“Condition is king in the used car world. The better your drivers take care of that vehicle while it’s in service, the better the return you’re going to get.”
Jim goes on to highlight that a clean, well-maintained vehicle can sell for several thousands more than a mistreated unit. He recommends working closely with your employees to ensure they take proper care of their company vehicles. Later in the article, Jim discusses employee sales and shares why this option typically benefits your drivers as well as your organization by eliminating disposal costs such as transportation and auction fees.
“We’re seeing an uptick in employee sales. In today’s used car market, buying a quality vehicle can be a challenge. So if I needed a car, I’d be crazy not to buy the vehicle I’ve been driving for the last three or four years, because I know everything about it and how well it was cared for.”