After four straight record months in the Manheim Used Vehicle Value Index, used-car prices began to ease in November. Wholesale used prices fell 1.32 percent from October, according to analysis included with Manheim’s latest release of its index. The resulting reading of Manheim’s index was 139.0. While that’s up 3.3 percent year-over-year, the dip from […] [Read More]

Black Book’s representative watching a sale in California as November closed shared this observation: “The most common complaint from the dealers was the continued high prices paid to secure inventory.” Reinforcing that dealer claim is the fact that Black Book’s Used Vehicle Retention Index climbed for the seventh month in a row. The November reading […] [Read More]

When it comes to international expansion strategy, KAR Auction Services has typically emphasized “being asset light,” says chief executive Jim Hallett. But even in its latest international purchase — the planned acquisition of Belgium-based CarsOnTheWeb that was announced late last month — there are parts of KAR’s existing business that it can “layer on” to […] [Read More]

Among other honors the association shared throughout the week, the National Auto Auction Association announced its annual Auto Auction of the Year for Excellence in Community Service award at its convention last month. During the event, which was held in partnership with the National Remarketing Conference at Used Car Week in Scottsdale, Ariz., NAAA presented […] [Read More]

A question often asked is how auctions will adjust to an automotive industry where mobility ventures and digital sales are more commonplace.  Manheim is looking at that proactively, creating  a new leadership structure for its assurance and reconditioning group designed to better position the company as the industry grows further toward these types of ventures. The […] [Read More]

We live in the age of data. Every day, people create at least 2.5 quintillion bytes of data  and we’ve generated 90 percent of the world’s data since 2016, according to this Forbes piece from May. While these statistics may seem startling, they underscore a new reality: An incredible amount of data exists with insights hiding […] [Read More]

This week, automotive logistics provider ACERTUS announced three key personnel moves to bolster its leadership team, leveraging a trio of executives who possess vast industry experience. Moving into leadership roles with the company are: • Jason Caporrino as chief operating officer • Michael Malakhov as executive vice president of sales and marketing • Lainey Strohmeyer […] [Read More]

KAR Auction Services chief economist Tom Kontos didn’t need an elaborate explanation to describe movements associated with the October wholesale price data he and his team assembled. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale prices in October averaged $11,059. That’s 0.7 percent higher compared to September […] [Read More]

For the second time this month, KAR Auction Services has announced plans for a major purchase. And this time, it’s an international move that gives KAR an “anchor” in Continental Europe’s wholesale market and beyond. KAR said Wednesday morning it has reached a definitive agreement to buy CarsOnTheWeb, a digital wholesale auction platform out of Belgium, […] [Read More]

Consumers might have been elbowing each other for bargains this past week, but it appears dealers were not behaving similarly as auctions held their sales around Thanksgiving. As a result, Black Book’s newest Market Insights Report showed that prices for both cars and trucks didn’t soften as much last week as they had during the […] [Read More]