With pumpkins permeating everything from lattes to yard décor, the appeal of summertime vehicles, especially sporty cars, is softening. This week’s edition of Black Book Market Insights showed the premium sporty car segment experienced the biggest drop, sliding by 0.53 percent or $209. Reviewing overall car segment values, editors found their volume-weighted information represented a […] [Read More]

Manheim says it will have invested more than $100 million in its digital platforms, through upgrades that started at the beginning of this year and will continue through 2019.  This comes amid a growing push of online wholesale sales, both at Manheim and elsewhere in the auction business. At Manheim, specifically, in the first half […] [Read More]

Carolina Auto Auction expanded its management team, naming two assistant general managers on Monday. General manager and managing partner Eric Autenrieth announced that Joe LeMonds has been promoted to the post of assistant general manager of sales and marketing. And new to the auction is Vann Humphrey, who has been named assistant general manager of […] [Read More]

Following an 11-week “summer bounce” in Manheim Market Report prices, September ended up being the third consecutive month of record used-vehicle values, according to Cox Automotive's news release and analysis accompanying the latest Manheim Used Vehicle Value Index. And though weekly prices evened out during the month, analysts are still expecting lofty used-vehicle prices to […] [Read More]

Mike Broe, the president and chief executive of Auto Auction Services Corp. and a longtime fixture in the remarketing business, will retire at the end of the year. The company, typically referred to by the AutoIMS moniker, said Friday that Broe would retire on Dec. 31, with AutoIMS chief operating officer Venkat Krishnamoorthy leading the […] [Read More]

RVI Group elevated one of its experts this week to lead its passenger vehicle insurance and analytics businesses. Now under the leadership of Wei Fan, the firm announced its passenger vehicle insurance and quantitative analysis teams — which partner closely on business development and operations of RVI Analytics — are being consolidated. The company explained this move will […] [Read More]

Perhaps the first autumn leaves are starting to fall on your lot. And according to Black Book, so are car prices. The latest Black Book Market Insights Report highlighted that car segment depreciation has accelerated during the past two weeks, with sporty cars, midsize cars and full-size cars seeing some of the largest weekly depreciation […] [Read More]

A new alternative used-vehicle sourcing service is testing the market in Chicago. Swap Motors launched with an initial physical and virtual auction site in suburban Skokie. Chief executive officer Alex Johnson described Swap Motors as a private-party inventory source, primarily for independent dealers. Though originally launched in 2016 as a peer-to-peer site for consumers to […] [Read More]

It’s been about two weeks since Hurricane Florence lashed the Carolinas with rain measured in feet in some places. Now the task given to the wholesale industry — contending with flood-damaged vehicles — is gaining steam. To accelerate catastrophe response in the Carolinas and Virginia, Insurance Auto Auctions (IAA), a business unit of KAR Auction Services, announced […] [Read More]

By this time next year, KAR Auction Services should be nicely settled into its sterling, new headquarters. One year after announcing its $80 million investment in central Indiana, KAR on Wednesday said its new corporate headquarters and campus in Carmel, Ind., is on track for summer 2019 completion. Officials highlighted construction of the 250,000-square-foot office […] [Read More]