As part of the September NAAA Convention issue of Auto Remarketing, we are launching a new project: High-Performance Auto Auctions.  Essentially, this is a roundup of "Auto Auction of the Year"-type awards from consignors, auction groups and other industry stakeholders. We are spotlighting the award-winning auctions throughout the industry.  For example, if you are a consignor, this […] [Read More]

Manheim said Thursday it has opened its first-ever physical auction location n in Northwest Ohio with the launch of Manheim Montpelier. The auction, which held its grand opening sale Tuesday, was formerly Montpelier Auto Auction, which appears to have previously been closed. A Manheim spokesperson said via email that this would not be considered a […] [Read More]

If you can find the inventory you want, maybe you won’t be paying as much for it. Black Book analysts spotted multiple positive developments for dealership personnel tasked with finding profitable inventory. While prices might be softening noticeably, the latest installment of Market Insights also mentioned that volume still is down — especially units that […] [Read More]

IAA looked to improve services for its customers in the United Kingdom on Tuesday. IAA — again the presenter of this year’s Auto Remarketing 40 Under 40 — announced that its UK-based business unit has expanded its payment offerings through the addition of Payit by NatWest, a fast, safe and secure mobile transaction and digital […] [Read More]

XLerate Group has purchased Liquid Motors, the auction group said Monday. It’s a move that can help bulk up XLerate’s digital sales, which the company says have seen significant growth in the last five years. In a news release, XLerate chief executive officer Cam Hitchcock said Liquid Motors management will continue to operate the company. […] [Read More]

Wholesale vehicle prices have peaked and it will likely be “several years” before they return to the record levels seen in recent months. That’s according to analysis around Cox Automotive’s Manheim Used Vehicle Value Index, which reached an all-time high of 203 in May, but fell to 200.4 in June. That ended a four-month string of […] [Read More]

Fleet management company Donlen has named a new director of remarketing. Hired for the position is Larry Knapp, whose background includes time with BMW Financial, UB Vehicle Leasing, Hertz and Mercedes-Benz Financial and Black Book. “We have a real opportunity to reshape the lifecycle of the vehicle by creating additional channels for customers to sell […] [Read More]

And then after 23 consecutive weeks, wholesale prices finally dipped ever so slightly. On Tuesday, Black Book spotted the first value decrease since January during the week that closed on Saturday as the United States prepared to celebrate the Fourth of July on the following day. [Read More]

It might be hard to begrudge Hertz Global Holdings executives and new board members if they shot off some fireworks ahead of the Fourth of July holiday. This week, Hertz announced that it has successfully completed its Chapter 11 restructuring process and has emerged as a “financially and operationally stronger company that is well-positioned for […] [Read More]

It’s hard to argue with the statement McConkey Auction Group chief executive officer Bob McConkey made Wednesday when announcing details for DAA Northwest’s Rock & Roll Sale. “After the year we’ve all been through, we are ready for a party,” McConkey said in a news release, announcing the headlining musical act for the auction’s signature […] [Read More]