While the September used-vehicle sales projection might not show it, dealers are certainly bracing for additional sales stemming from hurricane-damaged vehicles that need to be replaced. And it’s reflecting in how prices are moving, according to the latest this week’s Black Book Market Insights report. Editors found that prices for both compact cars and crossovers […] [Read More]

Janet Barnard has been named the new chief people officer of Cox Automotive, and Grace Huang has been chosen as the new president of Cox Automotive Inventory Solutions, which includes Manheim, among other brands. Rock Anderson, who had been chief people officer, is retiring. Both Barnard and Huang will move into their new roles Monday. […] [Read More]

After a 30-day window of studying auction sales and their associated auction charges earlier this year — a period that included more than 347,000 vehicles sold by clients — AutoIMS was able to determine the 10 most common charges spotted in the auction marketplace. And while some, like sale fees, transportation and detailing, were reported […] [Read More]

Florida. The Mid-Atlantic. New England. Illinois, Texas, Colorado and Arizona. California. Not only do these areas contain some of the largest cities in the country, but they are also areas where the commercial consignors utilizing CarLotz have heavy volumes of vehicles for the company to remarket at retail. So with a $30 million round of […] [Read More]

The National Auto Auction Association Convention — which is held in partnership with the National Remarketing Conference at Used Car Week — is just around the corner. And Auto Remarketing is celebrating the annual event and the auction industry with our yearly NAAA Convention issue. One of the special sections in that magazine (our Nov. 1 edition) is the […] [Read More]

Year-to-date auction volume on late-model vehicles wrapped up August just a shade under 2 million units, with nearly a 22-percent sequential hike for last month alone. According to the latest Guidelines report from J.D. Power Valuation Services, the late-model auction volume tally of 1.94 million units through August is up 6.67 percent from a year ago. The […] [Read More]

Like KAR Auction Services noticed as well, both Cox Automotive and J.D. Power Valuation Services are watching closely how Hurricanes Harvey and Irma are impacting used-vehicle prices in September. And evidence is prompting analysts to modify their expectations for where the price readings might be by the end of the month. According to a note shared […] [Read More]

Hurricane Harvey landed in Texas with a week left in August, and its flooding left an immediate impact on wholesale price movements for the month, according to KAR Auction Services chief economist Tom Kontos. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class released on Wednesday, wholesale used-vehicle prices […] [Read More]

CarLotz announced Tuesday it closed on a $30 million round of equity capital funding from TRP Capital Partners. The chain of used-car consignment stores will use the capital to continue its national expansion, as CarLotz seeks to set up retail locations in Florida, Texas, California, the Midwest, New England, and the Mid-Atlantic. “Over the last few […] [Read More]

With some interesting anecdotes about how dealers are handling hurricane fallout, Black Book also highlighted how one specific segment impacted the entire truck segment. This week’s Black Book Market Insights report mentioned compact SUVs increasing their value noticeably, giving the truck segment an overall boost in retention value. Editors noticed the car segment depreciated by […] [Read More]