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]

Perhaps the industry is taking its collective foot off of the gas in regards to wholesale car prices. Black Book shared in its latest Market Insights report that overall car segment values decreased by 0.20 percent last week. In comparison and reflecting the unusual summer it has been at the auction, volume-weighted car values had […] [Read More]

The unusual summertime wholesale price movements seen by both KAR Auction Services and J.D. Power Valuation Services might push the costs that dealers face in the lanes nearly 3 percent higher by the time the year ends. The August price updates from both companies conveyed notable wholesale price surges, with KAR chief economist Tom Kontos […] [Read More]

In the Nov. 1 issue of Auto Remarketing, we are celebrating both the NAAA Convention and a huge milestone for the association: its 70th anniversary. Given the magnitude of this anniversary, we want auctions to participate in the editorial content of this issue In a big way. Here's how auctions can get involved: 1. Submit photos for […] [Read More]

There are some phonetic similarities, but there’s a key difference between the words “insurance” and “assurance.” It boils down to protection from what you can't necessarily control (insurance), versus an added layer of protection designed to allow greater freedom for choice in decision-making (assurance).   And the latter is what is being offered through wholesale vehicle return […] [Read More]

Auction Management Solutions (AMS) expanded its client portfolio again earlier this month. Now leveraging the firm for business development consulting is Lake Charles Auto Auction (LCAA) located in Lake Charles, La.   Established in 1991, Lake Charles Auto Auction was started by Mike Pedersen as a two-lane night sale, catering to independent dealers in the area. […] [Read More]