Auction/Wholesale News
Hertz Continues to Claim It Has Lead Over Avis in Potential DTAG Merger
-- September 02, 2010
PARK RIDGE, N.J. — In a presentation Hertz provided to its Institutional Shareholder Services/RiskMetrics Group earlier this week, Herz management revealed that a merger by Avis Budget and Dollar Thrifty "poses a far higher anti-trust risk than a merger of Hertz and Dollar Thrifty." As part of the presentation, the company showed ... [ Full Story ]
Manheim Daytona Beach Security Guards Help to Thwart Robbery Attempt
-- September 02, 2010
DAYTONA BEACH, Fla. — Watchful security personnel at Manheim Daytona Beach apparently overcame intimidating ploys by would-be thieves and started the process that included a high-speed chase and ended with the arrest of four men and a 17-year-old juvenile who attempted to steal four vehicles. According to Volusia County deputy sheriffs, the incident began when ... [ Full Story ]
Remarketing Execs to Share Insights at NRC
-- September 01, 2010
CARY, N.C. — Remarketing is a critical tool within the automotive industry, and during the opening keynote panel at the 2010 National Remarketing Conference, some of the key players in remarketing will discuss the strategies they use to ... [ Full Story ]
IARA Honors AmeriCredit Exec, Names New Officers at Summer Roundtable
-- September 01, 2010
MT. ARLINGTON, N.J. — One of AmeriCredit's top executives received the Special Recognition Award during the International Automotive Remarketers Alliance's Summer Roundtable. IARA executive director Matt Marks handed the honor to ... [ Full Story ]
Fleet Lease Disposal Representative Passes Away
-- September 01, 2010
DELRAY BEACH, Fla. — Fleet Lease Disposal (FLD) said its fleet sales representative recently passed away. FLD executives indicated Gary Ward ... [ Full Story ]
Beggs: Are Used Vehicles Like Snowflakes?
-- August 31, 2010
GAINESVILLE, Ga. — Try this for an analogy: Are cars and trucks like snowflakes? Black Book managing editor Ricky Beggs thinks they are when looking at ... [ Full Story ]
Rea Brothers' to Host First GM/GMAC Sale Next Month
-- August 30, 2010
CHARLESTON, S.C. — Rea Brothers' Mid-South Auction confirmed it has been selected to hold sales for General Motors and GMAC and will conduct the first of these on ... [ Full Story ]
Wells Fargo Now Sending Inventory to an Additional Manheim Location
-- August 30, 2010
ATLANTA — In addition to announcing the launch of a new Total Resource Auction facility, Manheim also reported that another of its auctions will now be offering Wells Fargo Auto Finance inventory. Which auction is now ... [ Full Story ]
ADESA Opens New Auction
-- August 26, 2010
CARMEL, Ind. — ADESA announced late Wednesday that it has opened a new auction called ADESA Queen City in ... [ Full Story ]
Beggs: We're Getting Better Handle on More 2010 Model Prices
-- August 26, 2010
GAINESVILLE, Ga. — As overall wholesale prices for both cars and trucks slid down again, Ricky Beggs and other Black Book editors tried to obtain an accurate reading on how more 2010 model-year units are performing. The Black Book managing editor pointed out ... [ Full Story ]
Industry Insight Series to Benefit Dealers
-- August 26, 2010
CARMEL, Ind. — ADESA and NADA University are teaming up for what they're calling the Industry Insight Series, a gathering of experts such as Tom Kontos and Dale Pollak to discuss the current state of the used-vehicle market and where it's headed. The free lunch is followed by ... [ Full Story ]
AAAG CEO Earns Military Praise
-- August 26, 2010
CHARLESTON, S.C. — The Department of Defense recently bestowed some high praise upon American Auto Auction group chief executive officer Steve Simons to thank him for ... [ Full Story ]
What Drove Luxury Wholesale Values Down?
-- August 25, 2010
IRVINE, Calif. — Overall, used-vehicle values were essentially static in July, but the wholesale values of late-model luxury units have softened from ... [ Full Story ]
OPENLANE Unveils New AutoCheck History Report Availability
-- August 25, 2010
REDWOOD CITY, Calif. — OPENLANE recently decided to make full versions of Experian Automotive's AutoCheck Vehicle History Reports available for free when connected with certain sales. These reports are for dealers who search ... [ Full Story ]
Goldman Sachs Reduces Expectations for KAR Shares
-- August 25, 2010
CARMEL, Ind. — Due to lower expected volume, Goldman Sachs Group has apparently trimmed its price target for KAR Auctions Services shares down to ... [ Full Story ]
Panel Discussions to Play Major Role at NRC, CPO Forum
-- August 24, 2010
CARY, N.C. — While listening to the insight from a single speaker at a conference certainly can prove to be highly beneficial, industry professionals can also learn a great deal when a presentation has more of a conversational approach with several executives sharing their input. Bearing that in mind, a key ... [ Full Story ]
AmeriCredit Reveals 2Q Auction of Excellence Winners
-- August 24, 2010
FORT WORTH, Texas — AmeriCredit recently unveiled the second-quarter winners in its 2010 Auction of Excellence program. Receiving honors were ... [ Full Story ]
Hertz and DSC of Indiana Announce New Partnership
-- August 24, 2010
CARMEL, Ind. — Hertz Corp. and Dealer Services Corp. of Indiana announced Monday a new partnership designed to benefit DSC customers by offering ... [ Full Story ]
National Auto Auction Week Coincides with Manheim's 65th Anniversary
-- August 24, 2010
ATLANTA — As National Auto Auction Week rolls on through Friday, officials from Manheim stressed that this year's special week carries extra meaning for the company. The reason: company employees also are celebrating ... [ Full Story ]
ADESA Seattle to Hold Hot Rod Show, Classic Car Sale This Week
-- August 23, 2010
CARMEL, Ind. — ADESA Seattle will be offering a broad spectrum of vintage models when it holds its second annual Hot ADESA Night Event Sale later this week. There will be ... [ Full Story ]