KAR Auction Services announced that four of its leaders from KAR and its ADESA and Automotive Finance Corp. business units will be featured speakers and panelists at the National Independent Auto Dealers Association Convention & Expo this week in Las Vegas. The vehicle remarketing and technology solutions provider’s speakers include KAR chief economist Tom Kontos, AFC […] [Read More]

According to Black Book data, the average price of a used vehicle for model years 2011 to 2015 decreased in value by 1.2 percent in May. Editors explained that movement represented a reversal from April when values actually increased 0.4 percent. Black Book indicated overall car values dropped by 1.8 percent, and trucks decreased by […] [Read More]

 As the mobile auction format continues to attract more dealers across the country, companies within the industry are continuing to push the wholesale auction experience and communicate the benefits that many used-car managers praise. “We’re averaging well over 60 mobile auctions per month around the country right now, and that’s a huge increase from just barely […] [Read More]

Jim Yates, president and chief executive officer of Alliance Inspection Management (AIM), has announced his retirement from the company and is moving into a 12-month consulting role effective immediately, according to a news release from the company posted on Wednesday. Yates, an automotive industry veteran who began his career at an auto dealership in 1975, […] [Read More]

So much for the theory that rising wholesale volume would cause used-vehicle prices to soften — or even crash, as some doomsday observers feared. The Manheim Used Vehicle Value Index climbed to a new record high in May as analysts determined wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) rose 2.6 percent month-over-month. The […] [Read More]

Both Insurance Auto Auctions and Clark County Auto Auction celebrated grand openings on Wednesday. IAA, a business unit of KAR Auction Services, hosted the grand opening of IAA Portland West, its newest branch in Portland, Ore. The development marks IAA’s third facility in the state, with additional branches in Portland and Eugene. The company indicated […] [Read More]

Demonstrating what the companies say is the tremendous power of long-term collaboration, RMS Automotive and Mazda Motors UK this year are celebrating a decade-long partnership highlighted by innovation and performance-driven results. In that time, RMS Automotive has helped Mazda sell more than 14,500 vehicles and reach more than 75 percent of the Mazda Dealer Network […] [Read More]

Along with some other anecdotes about what’s happening in the lanes, the latest Black Book Market Insights report indicated the truck segment as a whole is remaining fairly stable. Editors found that three vehicle categories within the truck segment increased their values last week, including the sub-compact crossover, midsize crossover/SUV and full-size pickup. “Small cars […] [Read More]

J.D. Power Valuation Services (formerly NADA Used Car Guide) recently rolled out a white paper aimed at tackling two important questions when it comes to the impact off-rental has on the wholesale market. Analysts explained that the percentage of total new vehicle sales sold to rental companies — what is termed rental fleet penetration (RFP) […] [Read More]

Black Book’s Used Vehicle Retention Index for May dipped both on a sequential and year-over-year basis. With four car segments sustaining drops, the May index reading came in at 112.3, which was down by 0.7 percent from the April mark of 113.1. The May reading also represented a 5.6-percent decline versus the same month last […] [Read More]