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]

Manheim announced that it recently installed indoor and outdoor LED lighting throughout its Manheim Orlando facility at 11801 West Colonial Drive, saving an estimated 951 tons of carbon per year — the equivalent of over two million miles driven by the average passenger vehicle. After replacing 7,452 bulbs and 1,311 fixtures, Manheim said the installation […] [Read More]

ADESA has made management changes at three of its 77 North American auction locations in Arizona, Tennessee and Florida. Rance Rudy has been named general manager of ADESA Phoenix, Jay Smith will now serve as general manager of ADESA Knoxville and Lisette Minton has been appointed general manager of ADESA Sarasota. “Rance brings to his […] [Read More]

Going into Memorial Day weekend, Black Book learned dealers weren’t overly eager to spend their floor plan funds as vehicle depreciation trends told editors “that summer is fast approaching.” According to the latest Black Book Market Insights report, editors found that car segments are picking up more weekly depreciation compared with trucks, “signaling that summer […] [Read More]

XLerate Group recently announced that it has brought on Tom Francois as the new general manager of the group’s Badger State Auto Auction in Fond du Lac, Wis. Francois succeeds Tim Netz, who is retiring after 18 years of service at the auction. “We are grateful to Tim Netz for his leadership, service and dedication to […] [Read More]

The National Auto Auction Association said Wednesday that its campaign with the Massachusetts Independent Automobile Dealers Association to raise $100,000 for the victims of the fatal crash at Lynnway Auto Auction earlier this month has almost reached its goal.    NAAA, which said $76,775 has been raised so far, urged people to make donations. The […] [Read More]

Insurance Auto Auctions recently announced the expansion of both its Savannah and Tifton facilities in Georgia, two of its seven locations in the state. "The Savannah and Tifton expansions advance our pace of proactive operational growth in this important marketplace to better serve our loyal base of buyers and sellers," IAA chief executive officer and […] [Read More]

The owner of a South Dakota auction dubbed the “classic car graveyard” is currently selling his 40-plus-year-old collection of over 300 collector vehicles from the 1920s to 1990s. Kerry Droog, owner of K&K Auto and the son of an auctioneer, has been buying from auctions and picking out finds from local farms for most of […] [Read More]

The spring season in the wholesale vehicle market has passed and auction values have returned to seasonal depreciation patterns, says Black Book. Car segment values were down 0.36 percent last week and trucks fell 0.47 percent, according to the latest Black Book Market Insights report. This just a couple weeks after a stronger than expected […] [Read More]