Warren Clauss knows first-hand that auction industry jobs can lead to dynamic careers. The former certified public accountant snagged the controller job at the Auto Dealers Exchange Buffalo, in Akron, N.Y. — then owned by ADESA founder Mike Hockett, who went on to found Auction Broadcasting Co. — when the site opened in 1992. Two […] [Read More]

Whether it’s just a momentary slowdown or the sign of a longer-term dealer trend, Black Book watched vehicle depreciation slightly intensify as store managers opted not to load up on potential inventory coming through the auction. The latest Black Book Market Insights report shows both car and truck segments decreasing more in value than usual. […] [Read More]

Entrepreneur George Chamoun is driven by his desire to change the wholesale industry via technology as head of ACV Auctions. After graduating from the University at Buffalo in 1997, the North Syracuse, N.Y., native would go on to launch technology and services company Synacor with his college roommate Darren Ascone, a year later. Chamoun, an […] [Read More]

During the President’s Gala held during next week’s NAAA Annual Convention festivities in the second block of Used Car Week, there will be a new fundraiser (Chapter Charity Auction) to benefit five charities. The Gala itself is on Nov. 16 from 7 p.m. (PT)  to 9 p.m. In addition to identifying the four charities to support, each […] [Read More]

Black Book sees two elements coming together to prop up used-vehicle prices and, in turn, push its Used Vehicle Retention Index higher for the second month in a row. Black Book recently released its October index and noticed an increase of 0.6 percent month-over-month from 113.9 to 114.6. It’s the second straight monthly increase dating back […] [Read More]

Manheim recently announced it has appointed Noel Kitsch as general manager of Manheim Georgia and Joey Satfield as general manager of Manheim Fort Myers.   Kitsch most recently served as senior assistant general manager at Manheim Central Florida. He joined Manheim in 2001 as a dealer sales representative before taking on various roles with increasing […] [Read More]

It was quite the quarter and it has been quite the year for KAR Auction Services. The multi-pronged impact from two hurricanes that bear some influence on KAR’s whole-car and salvage auction businesses. Purchasing DRIVIN and Dependable Auto Shippers, and buying the remaining interest in TradeRev. All while keeping pace with a dynamic wholesale marketplace […] [Read More]

Dealers have submitted over 100,000 live trades on the Appraisal Lane app since its launch in just over two years, the company announced Tuesday. This follows The Appraisal Lane’s September announcement that it recently expanded into the Upper Midwest. The company now has markets across the entire Eastern Seaboard, Pennsylvania, Ohio, Illinois, Michigan, Indiana, Wisconsin […] [Read More]

Leaders from Black Book and General Motors Financial recently used the adjectives “steady” and “stable” when describing how the wholesale market is behaving. The latest Black Book Market Insights report indicated used vehicles across most segments are depreciating at a “steady” rate. Editors determined only two vehicle segments — compact vans and sub-compact luxury crossovers […] [Read More]

Barrett-Jackson recently raised $1 million for Las Vegas first responders during its 10th annual Las Vegas Auction at the Mandalay Bay Resort and Casino. The five charity vehicles featured in the sale included a rare 2007 Ford Shelby GT500 Super Snake owned by Barrett-Jackson president Steve Davis, which sold for $1 million, according to Barrett-Jackson. “As […] [Read More]