In the first half of 2019, there were 5.2% more vehicles 5 years old or younger running through the auction lanes than there was a year ago, according to J.D. Power Valuation Services. The company’s latest Guidelines report showed a slight uptick (0.3%) in auction volume for this group of vehicles in the final month […] [Read More]

While J.D. Power Valuation Services saw wholesale prices edge lower in June, analysts are holding on to their projection that used-vehicle prices will tick up on a year-over-year basis by the time 2019 closes. In its latest installment of Guidelines, analysts repeated that they expect prices for vehicles up to 8 years in age to […] [Read More]

After a little more than seven months, Cox Automotive has a new chief sales officer. According to a news release distributed on Tuesday, Cox Automotive promoted Tim McKinley from his position as senior vice president of sales for Manheim to chief sales officer for Cox Automotive, reporting to president Sandy Schwartz. Cox Automotive said McKinley […] [Read More]

While affordability appears to be pushing potential vehicle buyers to the used market, recent lane activity and wholesale price trends chronicled by Black Book are reflecting that some dealers have yet to see that swell of possible purchasers. The newest Black Book Market Insights report values for both cars and trucks softened last week at […] [Read More]

A new Hartford, Conn., location for Copart marks the second Connecticut site for the global online vehicle auction company. The location, formerly named Hartford-Springfield Auto Auction, provides capacity for Copart’s continuing volume growth in the region, and it means more convenience for the company’s buyers in the area, Copart chief executive officer Jay Adair said […] [Read More]

Former NAAA president Dave Angelicchio, who was the longtime chairman and chief executive officer of his family’s auto auction before retirement, died Sunday in Pittsburgh, the National Auto Auction Association announced. Angelicchio, who fought a long bout with cancer, was 67. In the 1990s, he became the general manager of the D-A Auto Auction opened […] [Read More]

Black Book’s Used Vehicle Retention Index for June showed how the impact from the spring market still left its mark even as summer began. Editors released the June index reading on Tuesday, noting that it ticked up 0.6% from the previous month to land at 115.0. Black Book explained the strong spring season continued into […] [Read More]

Following its recent spin-off from KAR Auction Services, Inc., IAA Inc. named the members of its board of directors. John Larson, who was the lead independent director of KAR since June 2014, was named IAA chairman of the board. IAA completed the spin-off in June; it was first announced in February 2018. Eight individuals will serve […] [Read More]

While movements aren’t regaining spring-market strength, Black Book is seeing wholesale prices being supported by Fourth of July demand. According to the latest Black Book Market Insights report, car depreciation decelerated while truck prices landed near the four-week average. “Used-vehicle demand remains relatively strong as we approach the Fourth of July weekend. Truck values continue […] [Read More]

The auto industry has dramatically changed in the past decade. Car shoppers have more data and details on vehicles than ever before, putting pressure on retail pricing and profit margins. Dealers, in turn, must adjust and get smarter about the inventory they acquire. As used-car margins are tighter, dealers must be confident of the wholesale […] [Read More]