Cox Automotive has named a chief sales officer. Hired to the position is Sid Nair, who joins the company from DXC Technology, an IT services company. Nair will report to Cox Automotive president Sandy Schwartz and will head up the company’s U.S. sales operation and marketing functions, which includes nearly 2,500 employees. His direct reports […] [Read More]

The used-car market is now hitting “normal depreciation patterns” that should amplify in 2019, according to a recent analysis from Black Book. Used vehicles from model years 2013 through 2017 saw their average prices dip 1.9 percent in October, the biggest decrease since January, the company said.   There was a 2.4-percent decrease in car […] [Read More]

Late-model auction volume for full-year 2018, consisting of vehicles up to 5 years in age, still appears poised to beat year-ago figures by an estimated 6 percent to 6.5 percent. That’s according to J.D. Power Valuation Services, which included an auction volume forecast in its latest edition of Guidelines released Tuesday. Through 10 months of […] [Read More]

As October wholesale-price shifts fell in line with movements witnessed during the past five years, J.D. Power Valuation Services is expecting November readings to edge slightly lower. And with the end of the year in sight, analysts also touched on where wholesale prices could land by the time 2018 closes. Included in the latest installment […] [Read More]

Two kinds of vehicles that might turn the quickest on your lots might have become a little more affordable at the sale you frequent. The latest Market Insights Report from Black Book noted a pair of vehicle segments sustained the largest price drops of 2018. Here’s how Anil Goyal, executive vice president operations for Black […] [Read More]

General Motors Financial rewarded dealers who were quick to acquire vehicles from the consignor with a speed-themed experience. Last month, 24 GM dealers from across the U.S. and Canada answered the challenge and won the trip of a lifetime in the fourth annual GMF Challenge. As top purchasers on GMF DealerSource over a two-month period […] [Read More]

Wholesale vehicles with dents, dings, squeaky wheels and other mechanical hiccups near the Alamo now can be buffed and repaired by Manheim more efficiently. To deliver a better way for clients to do business and prepare for their growing needs, Manheim recently invested $1.8 million in a new 11,000 square-foot mechanic shop for Manheim San […] [Read More]

The International Automotive Remarketers Alliance had a golf outing planned for its 2018 IARA Summer Roundtable in August, and decided to use the event to honor Ken Osborn, the late general manager of ADESA Dallas who passed away early this year, and dedicate the net proceeds in his memory. Less than two months later, that […] [Read More]

XLerate Group Auctions has made two moves that the company’s chief executive says help the auction group “continue leading independent auctions beyond their physical lanes.” XLerate promoted Kelly McAllister to serve as executive director of digital strategy, while also hiring a digital manager of remote markets. Named to that position is Keith Fetz, who most recently […] [Read More]

UPDATED: Sixth paragraph corrected for clarity.  Jim Hallett talked about a lot more than just TradeRev during KAR Auction Services’ recent earnings call. During the third-quarter 2018 report discussed on Nov. 7, the KAR chairman and chief executive covered the company’s 11-percent third-quarter 2018 revenue increase, the proposed spin-off of its Insurance Auto Auctions (IAA) business, the […] [Read More]