Responding to what the company says is “increasing demands” for its business in North Carolina, online vehicle auction company Copart has opened a new 20-acre location in Mocksville, N.C. “I am glad we will be able to serve our buyers and sellers with added convenience and vehicle options, with this new location,” Jay Adair, chief […] [Read More]

Perhaps winter isn’t quite finished yet in the auction lanes. This week’s Market Insights report from Black Book contained emphasis on the stabilization of retention heading into late winter as certain vehicle segments triggered noteworthy activity as dealers looked to shore up inventory for potential buyers using tax refunds toward a purchase. “With no early signs […] [Read More]

Updating one of the developments from this previous Auto Remarketing report, RumbleOn late on Tuesday afternoon announced the closing of its previously announced underwritten public offering of 1,276,500 shares of its Class B Common Stock at a price of $5.55 per share. The e-commerce company whose mission is to simplify how dealers and customers buy, […] [Read More]

Black Book’s dealer-focused subscription application, Black Book Cherry, helps dealers identify the most desirable vehicles at auction, and it provides valuation and appraisal functionality. Black Book announced Monday that Black Book Cherry would replace Black Book Digital as the company’s flagship mobile app and that it would feature new enhancements such as the ability of users […] [Read More]

Manheim has seen how consumer brands such as Amazon and Netflix have increased customer engagement by deploying personalized services. Now, Manheim is following that example to enhance its own offerings, like its mobile app and Simulcast service. In other Manheim news, the company is now integrating with vAuto’s Provision to help dealers value consumer trade-ins and […] [Read More]

The latest wholesale market analysis from RVI Group described price trends also highlighted by Manheim and Black Book for the opening month of the year. In the United States, analysts determined the RVI Used Vehicle Price Index (UVPI) came in at 1.014 in January compared to 1.059 in December and 1.004 in January of last […] [Read More]

These are busy days for Bel Air Auto Auction and GAA Classic Cars Auction. At Bel Air Auto Auction, which is the flagship auction of the BSC America Auto Auction, phase 2 of its lot expansion is underway, and the auction plans for 12 acres of vehicle parking to be ready in time for its 72nd anniversary […] [Read More]

RumbleOn announced a trio of major developments during the past two weeks, including the pricing of its previously announced underwritten public offering, an acquisition and another partnership The latest development from the e-commerce company whose mission is to simplify how dealers and customers buy, sell, trade or finance pre-owned vehicles through one online location arrived on […] [Read More]

The wholesale price movement both Manheim and Black Book spotted to round out 2018 continued into their analysis of January data. Beginning with Manheim, the company determined wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) decreased 1.62 percent month-over-month in January, representing a softening for the third month in a row. This move brought […] [Read More]

If you listen to lyrics from a rock and roll classic performed by The Who and other bands, you might agree there is “no cure for the summertime blues.” But the auction industry had no such blues in 2018. Jonathan Smoke, chief economist for Manheim’s parent company, Cox Automotive, said during the Manheim Used Vehicle […] [Read More]