Another major wholesale market index is showing consistency through the first two months of 2018. While the Manheim Used Vehicle Value Index remained unchanged from January to February, the Black Book Used Vehicle Retention Index edged only slightly higher year-over-year. Black Book released its index on Thursday and reported just a slight uptick to 113.3 […] [Read More]

Manheim announced Thursday that its five-year, $10 million-plus investment in four Arizona businesses this year has already brought several enhancements to its physical auction and digital channels in the region. Altogether, Manheim operations in Arizona have touched a combined 8.9 million vehicles annually and cover more than 230 acres. Manheim said the significant investment the […] [Read More]

The Manheim Used Vehicle Value Index certainly is consistent to begin 2018. According to Cox Automotive chief economist Jonathan Smoke, the index reading for February landed exactly where it did in January — 131.0. While the reading showed wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) remained flat month-over-month, the February figure […] [Read More]

KAR Auction Services chairman and chief executive officer Jim Hallett has won the Ed Bobit Industry Icon Award, which is presented by IARA and NAAA.   This honor was announced Tuesday afternoon during the Conference of Automotive Remarketing in Las Vegas. Tim Meta and Tony Long of IARA along with Frank Hackett and Warren Clauss […] [Read More]

Dealers are banking on the hope consumers aren’t using their federal tax refunds any place other than their store to make a vehicle purchase. The latest Black Book Market Insights report showed continued spring season momentum for cars such as sub-compacts and midsize models. And even though compact cars and full-size cars declined, editors emphasized […] [Read More]

Eighteen independent auctions took home honors Monday night in Las Vegas at the ninth annual OVE.com Awards show. OVE recognized top-performing partners in several categories. Both the first-place winner and second-place winner in each respective OVE.com Award category are listed below, in order: Highest Commercial Volume — Southern Auto Auction and Norwalk Auto Auction  Highest Commercial Mix — […] [Read More]

An auction executive who gained experience in Florida now is overseeing an operation in Virginia Auction Management Solutions client Richmond Auto Auction recently announced that Wyatt Carter has been promoted from assistant general manager to general manager, effective immediately.  Carter has been with Richmond AA since the beginning of 2017, previously working for ADESA Orlando […] [Read More]

I had to Google it. (and whatever you call checking “Wikipedia” these days). But thanks to a story I found in The Guardian among other online search results, I now know that the moniker for a 70th wedding anniversary — at least in the case of Britain’s Queen Elizabeth and Prince Philip, who celebrated theirs […] [Read More]

In this episode, we're talking Canada. As in, next month's Women & Automotive: Canadian Leadership Forum. Plus, Auto Remarketing Canada correspondent Sarah Rubenoff chats with KAR Auction Services chief economist Tom Kontos about his upcoming presentation at the Auto Remarketing Canada Conference and the Canadian used-car market. Check out the conversation below. Download and subscribe […] [Read More]

KAR Auction Services said late Tuesday afternoon that it is pursuing a spin-off of its Insurance Auto Auctions business unit. KAR said in a news release the proposed tax-free spin-off is designed to “increase shareholder value and focus each company’s strategic priorities on its respective marketplace and unique customers” and is likely to close within […] [Read More]