It’s been a busy opening to the calendar year for Copart as the global online vehicle auction company also finished the second quarter of its 2019 fiscal year with increases in revenue, gross profit and net income. For the fifth time since the end of January, Copart announced the opening of a new facility or […] [Read More]

In 2018, Manheim’s Digital Marketplace helped make more than 2 million vehicle sales to digital buyers. Now, as part of Manheim’s $100 million investment in expansions to its Digital Marketplace through 2019, the company is offering a new service that teams dealers up with what it calls “a dedicated expert” to help them sell vehicles […] [Read More]

While also revisiting its outlook for the rest of 2019, J.D. Power Valuation Services looked back at the pair of challenges the used-vehicle industry encountered in January and the resulting impact on wholesale prices and more. According to the latest installment of Guidelines, the J.D. Power Valuation Services’ Seasonally Adjusted Used Vehicle Price Index declined […] [Read More]

While perhaps dealers might be seeing some instability at their stores, what they’re experiencing in the auction lanes appears to be the opposite based on what Black Book shared in its latest installment of the Market Insights report. Editors found that value decreases last week for both cars and trucks both landed within 5 basis […] [Read More]

In a move aimed at development, launch and delivery of products and services, ADESA named Kurt Madvig vice president of product development. Madvig joined parent company KAR Auction Services in 2001 as an auction general manager to establish and develop ADESA Long Island in New York.  Soon after the launch of the Long Island location, Madvig joined […] [Read More]

Auction accidents happen, especially when vehicles are driven through the lanes. To minimize the chances of vehicle accidents, ADESA has established what it calls VirtuaLane at 20 of its 75 physical auctions in the North America. A VirtuaLane sale has all the trappings of typical physical auction lanes: an auctioneer, ring men and dealers bidding […] [Read More]

In the finale of six panel discussions recorded at Used Car Week 2018, Bill Zadeits and Charlie Vogelheim moderate a session on the "Consignor's Perspective: The State of the Used-Car Industry." Panelists include Jason Alba of Ally, Chris Clarke of ARI Fleet, John Manchin of Subaru and Brooks Stewart of Bridgecrest, followed by closing words […] [Read More]

Manheim launched its Manheim Express app in 2018, helping dealers list and selling inventory from the palm of their hands. In 2019, the company launched what it describes as an “in-app buyer experience” that helps dealers purchase fresh, local inventory. The Virginia Auto Dealers Association took notice and decided to use the product to help […] [Read More]

As TPC Management Co. (TPC) rolled out details for the next installment of Auction Academy, an operation that has sent graduates through that continuing education program recently received a top industry accolade from United Auto Credit. Officials announced registration for Auction Academy Class 6 is now open as it's scheduled for May 16-18 in Nashville, Tenn. And showing how training […] [Read More]

Preparing for the Presidents Day weekend might have been a prelude to how this year’s spring market might behave. Black Book arrived at that assessment as part of this week’s Market Insights report that looked also at how spring is taking hold of the market with overall car retention coming in just slightly stronger than […] [Read More]