Just like the temperatures outside, Black Book is expecting used-vehicle values to cool for the remainder of the year. On Tuesday, Black Book released its Used Vehicle Retention Index for September, which came in at 115.9. The reading marked a 0.6% decrease from August, when it was 116.6. “The used market held up pretty well […] [Read More]

At its 71st annual convention last week in Indianapolis, the National Auto Auction Association bestowed a bevy of award honorees, including its auction of the year and two NAAA Hall of Fame inductions. Starting with the association’s Auto Auction of the Year for Excellence in Community Service, that honor went to DAA Northwest. In a […] [Read More]

The softening of wholesale prices has accelerated, according to the latest Black Book Market Insights report. Analysts spotted decreases a week ago significantly higher than the average seen during the previous four weeks for both cars and trucks. “Used-vehicle market strength is waning as depreciation rates increased week over week,” Black executive vice president of […] [Read More]

Manheim said on Tuesday that it’s continuing to follow its strategy to promote talent from within the company. As a result, Manheim announced two new general manager selections at locations in the West. Assuming new leadership roles are Eddie Lafferty at Manheim Seattle and Danny Brawn at Manheim Nevada. Lafferty has been named general manager […] [Read More]

Based on input from users, ACV Auctions launched three new features to its nationwide online wholesale marketplace in an effort to increase efficiency for dealers buying and selling on the platform. Coming on the heels of reinforcing its workforce with several industry veterans, the new updates to ACV Auctions’ platform revealed on Monday include: — Run […] [Read More]

A big focus for KAR Global, parent company of the ADESA auto auction chain, will continue to be providing ancillary services in the wholesale marketplace and driving additional revenues per unit. “I think what you’ll see for us is growing dealer consignment, relatively flat commercial volumes, but increased revenue per transaction in the physical auction, […] [Read More]

These days, dealers and consignors have an abundance of choices of how to transact in wholesale, thanks to auction companies like Manheim and ADESA and independent auctions who provide a blend of digital and brick-and-mortar, plus a host of standalone online providers and marketplaces. One of the advantages for independent auctions, in particular, says Independent […] [Read More]

There are some basic fundamentals just to be able to enter the auto auction game. One of those is having the ability to offer online sales. Think of it like a hand of poker. “Every auction, whether you’re Manheim, ADESA or an independent, there’s certain things you have to have these days just as your […] [Read More]

Just over a year ago, there were about 38,000 people certified in the safety training program used by the National Auto Auction Association. As of August, there were around 88,000 people certified in the Safe T. Sam program, which was created by KAR Global and ADESA and used by NAAA and throughout the auction industry. […] [Read More]

KAR Auction Services is now KAR Global. The rebranding announced Monday follows years of expansion, both geographically across North America and Europe and in terms of the services the company provides, thanks to its acquisitions and technolgical development. Those purchases include the online sales (CarsOnTheWeb, TradeRev), data science/analytics (DRIVIN), recovery management (Clearplan) and mobility fleet services […] [Read More]