Manheim said Thursday it is amid what’s close to a $100 million investment to further connect its digital and physical offerings to meet the needs of its clients. As Manheim executives emphasized in a call Wednesday, the “digital transformation” of auction processes are not limited to sale day — there’s a lot that happens in […] [Read More]

Black Book reported on Tuesday that all 22 vehicle segments its analysts watch for weekly wholesale price updates moved higher. In a follow-up message to Auto Remarketing on Wednesday, Black Book said that across-the-board climb has happened only seven times since the company began to track the week-over-week changes in 2009. And in perhaps a […] [Read More]

March Madness isn’t just happening on the college basketball court. The newest Market Insights from Black Book released on Tuesday showed that each of the 22 vehicle segments analysts track for the weekly update moved higher a week ago. The across-the-board rise pushed car prices higher by 1.11% and truck prices up by 0.58%. In […] [Read More]

Not only did soaring wholesale prices push the Manheim Used Vehicle Value Index to a new record, but the February reading also smashed the previous high by 5.5 points. Cox Automotive reported on Friday that wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 3.79% month-over-month in February. That climb brought the […] [Read More]

Editor's Note: This is Part II of a three-part series on how the auto auction industry was impacted by and responded to the destructive winter storm that hit the central U.S. in mid-February. This piece examines the strategies of independent auto auctions.  Part I looked at ADESA's use of technology to facilitate remote sales allowed it […] [Read More]

Global digital marketplace IAA has opened a new Kansas City branch location, with the company’s president of U.S. operations Tim O’Day saying the location provides much-needed capacity in a rapidly growing market. The new Kansas City East location, at the Southeast corner of Old State Hwy. 40 and Reich Rd., in Odessa, Mo., more than […] [Read More]

Nearly new, late-model vehicles are in high demand, especially by franchised stores with tight new-vehicle inventory because of manufacturing challenges. Units with much lower actual cash values are wanted, too, as dealers of all stripes cater to budget buyers who got a financial bump via a stimulus or federal income tax refund. Put the trends together […] [Read More]

America’s Auto Auction has promoted Jordan Clark to fleet/lease manager at America’s Auto Auction Bowling Green. America’s Auto Auction senior vice president Brian Thomas said Clark did well in helping the Bowling Green auction’s clients get through the challenges of remarketing vehicles during the pandemic. Clark, who has worked at the Bowling Green facility since […] [Read More]

KAR Global will have a new chief executive officer on April 1. The company announced Tuesday afternoon that KAR president Peter Kelly will succeed Jim Hallett as CEO. Hallett, who has been CEO since 2009 and KAR’s chairman since 2014, will become the company’s executive chairman. He will continue in an advisory role with KAR. […] [Read More]

VINData Products LLC has added Manheim Market Report and Black Book wholesale and retail vehicle values to its vehicle history reports, saying the vehicle values provide accurate, independent information for auto dealers. The company said the reports help used-car dealers more effectively source the right vehicles for their markets, and they can also help boost […] [Read More]