Since launching its Auction Safety Certification and Lane Safety Training series 14 months ago, the National Auto Auction Association said that more than 7,000 people within the industry have been certified under the safety program. The courses, NAAA said in a news release on Thursday, include educational videos that aim to promote safety and prevent accidents. […] [Read More]

Franchise Services of North America (FSNA) — which among its subsidiaries includes U-Save Car & Truck Rental, U-Save Car Sales, Auto Rental Resource Center (ARRC), Xpress Rent A Car, Sonoran National Insurance Group and Peakstone Financial Services — filed for Chapter 11 bankruptcy protection this week. The company said it made the move in the […] [Read More]

It’s no secret or surprise that used-car volumes are up, but a survey released Tuesday sheds some light on where a significant portion of those cars are going: the $100 billion business of vehicles moving through wholesale auto auction lanes.  There were 17.7 million vehicles that reached the auction in 2016, which was 2.3 percent higher than the […] [Read More]

With some upbeat signs in the lanes that dealers are preparing to move used metal as the summer heats up, the Black Book Market Insights report showed car and truck segments depreciating at the same level. Editors determined that both overall segments softened by 0.25 percent last week. They also mentioned compact vans performed the […] [Read More]

Perhaps one day, self-driving vehicles will be coming down the off-rental lanes at the auctions you most frequent. On Monday, Avis Budget Group announced that it has signed an agreement with Waymo to offer fleet support and maintenance services for Waymo's self-driving car program at Avis Car Rental and Budget Car Rental locations. Under the […] [Read More]

The National Auto Auction Association held a mock auction on Capitol Hill to interactively educate policymakers about the wholesale auction business and the role it plays in both the auto industry and the U.S. economy. Staffers and legislative aides of the Senate Automotive Caucus joined NAAA in the Russell Senate Office Building on June 16, […] [Read More]

Fiserv has named Manheim Louisville of Clarksville, Ind., its top performing automobile auction of 2016, in recognition of the auction’s sales effectiveness and operations last year, the company recently announced. The financial services technology solutions provider annually scores its top three auctions on overall sales effectiveness, operational excellence, sales preparation and marketing. An auction must be a […] [Read More]

While various wholesale channels are an efficient way to remarket large volumes of end-of-cycle inventory, retail remarketing generates significantly higher proceeds and is playing an increasingly important role in remarketers’ portfolios. But how do fleet management companies and other commercial consigners that utilize retail remarketing decide what vehicles in their portfolio to retail versus wholesale? […] [Read More]

With dealer consignment activity softening for a variety of reasons, the newest Black Book Market Insights report showed that small cars continue to feel heavy depreciation. And editors added that small crossovers are also sustaining larger valuation drops, as well. Out of all vehicle categories within the car segment, the report indicated sub-compact cars declined […] [Read More]

AutoBuy plans to open four new locations in Florida, having served more than 100,000 private car sellers and appraised over $1 billion in inventory, the company recently announced. Since last year, AutoBuy said it has increased its available inventory by more than 110 percent and seen its revenue growth reach nearly 70 percent year-over-year, via both its brick […] [Read More]