Hurricanes Harvey and Irma took a chunk out of auction volumes for late-model vehicles. According to the latest Guidelines report from J.D. Power Valuation Services, late-model auction volume was down 18.1 percent month-over-month in September. It dropped 9.3 percent year-over-year. More specifically, auction volume for this age group (vehicles 3 years old or less) was […] [Read More]

Following the company purchasing the remaining interest in TradeRev, KAR Auction Services ironed out a few leadership updates on Wednesday. Becca Polak, who had been KAR’s executive vice president, general counsel and corporate secretary the past decade, is now the president of TradeRev. She also earned a promotion to the role of chief legal officer […] [Read More]

With a stronger than normal performance pushing September price readings, the analyst team at J.D. Power Valuation Services is projecting that October’s wholesale movements will be less than half of what was recorded during the same month a year ago. According to their latest issue of Guidelines, analysts expect that wholesale prices of vehicles up […] [Read More]

The first thing you might have noticed at Manheim Atlanta earlier this year was a countdown and buttons worn by employees that notified sale attendees that “a change is coming.” That change they were specifically referring to was Manheim’s investment in a widespread technology update and redesign of some of its auction processes, a change […] [Read More]

If you’re looking for compact crossover SUVs for your inventory, chances are you’re dipping deeper into your floor-plan account to get them. This week’s Black Book Market Insights report indicated compact crossover SUVs are showing “significant” price strength against the rest of the market. In fact, editors put the increase at 1.1 percent looking at […] [Read More]

TradeRev found a way to help dealerships that are still trying to get their businesses back in order after Hurricane Harvey. On Tuesday, TradeRev launched a special offer to help Houston-area dealers replenish inventory lost during the Category 4 storm. For a limited time, Houston-area dealers will receive free transportation through CarsArrive Network on any […] [Read More]

The Barrett-Jackson Auction Company and the NASCAR Foundation will host the charity sale of a 2016 Jeep Wrangler Red Rock Edition on Thursday to raise funds for the UNLV School of Medicine Dept. of Emergency Medicine Residency Program Fund. The fund helps provide physicians training as emergency medicine specialists at UMC, Nevada’s only Level 1 […] [Read More]

Perhaps the recent hullabaloo about a potential used-car price collapse was much ado about nothing. Retention values for 1- to 3-year-old vehicles in 2017, as calculated by Kelley Blue Book, were at 56 percent at the beginning of October, which is slightly ahead of year-ago levels (55 percent). “The lack of normal depreciation in used-vehicle […] [Read More]

The Federal Emergency Management Agency said Friday that during the next seven days, 20 million meals and more than 11 million liters of water would be arriving on Puerto Rico.    After confirming the safety of all 30 employees on the island, Cox Automotive put in motion a variety of initiatives to help the Manheim Caribbean team […] [Read More]

The XLerate Group has a new chief operating officer. The auto auction company said Monday it has named former ADESA executive Pat Stevens to the post. The COO position had been unoccupied for a while after Darris McClure moved over to lead XLFunding, a floor planning business the auction group recently launched. As for Stevens, […] [Read More]