As part of our collection of podcasts originating from Used Car Week 2019, Black Book executive vice president of operations Anil Goyal returned for another episode. Nick asked for a comparison of Black Book’s initial forecast for wholesale values to where they might land as 2019 closes as well as how the firm is involved […] [Read More]

Wholesale values spotted in the auction lanes during the past couple of weeks appear to be dropping faster than your eyelids after that delicious Thanksgiving meal the industry will soon enjoy. According to the latest Black Book Market Insights report, value softening is especially prevalent among cars. Analysts indicated their volume-weighted data showed overall car […] [Read More]

For just the third time this year, analysts at J.D. Power Valuation Services spotted a downward move of its monthly index. J.D. Power’s Used Vehicle Price Index dipped by 2.2% in October. The softening placed the index 1.8% below September of last year. When looking at volume, analysts shared in the November Used Car and […] [Read More]

ADESA announced this month that its VirtuaLane multisite capabilities have been fully integrated into the auction company’s Marketplace mobile app. What this means is that users of that app can now view and bid on any of the inventory at VirtuaLane multisite events from any of the 26 ADESA locations that hold such sales, the […] [Read More]

Manheim has created a new vice president of industry partnerships position, and filling that role is a longtime company leader who is next in line to be president of a trade group that Manheim will continue to work with through this position. Named to the post is Julie Picard, who will be the National Auto Auction […] [Read More]

Autumns have been atypical in the auction lanes in recent years with wholesale prices behaving in ways not usually seen. Well, this fall has returned to more traditional patterns, according to the latest Black Book Market Insights report. In fact, Black Book executive vice president of operations Anil Goyal said, “Truck segments declined more than […] [Read More]

 When KAR Global spun off its Insurance Auto Auction business this year, that was about 35% to 40% of its total business. “We’ve become a much smaller company,” said Jim Hallett, who is chairman and chief executive officer of KAR Global. “We have to continue to look for ways to take costs out of this […] [Read More]

ACV Auctions said it has secured $150 million in Series E funding, noting that the new capital will go toward ACV Auctions’ investment in technology and data-driven products that it says will help dealerships source and sell used vehicles. Wellington Management Company and Fidelity Management & Research Co. led the investment in ACV Auctions, a […] [Read More]

Certified wholesale vehicles sell faster and at rates 4 to 8% higher than their uncertified counterparts, according to a recent white paper from Manheim Consulting. The paper, titled, “Certification Impact on Low Grade & High Mileage Units,” also showed that certification can mean one-third fewer arbitrations. According to the white paper, the benefits and returns of […] [Read More]

The Manheim Used Vehicle Value Index did something in October that Cox Automotive analysts determined the wholesale market metric had not done in 33 months. For the first time since January 2017, the index posted a year-over-year decline. Manheim determined wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased 0.29% month-over-month in […] [Read More]