While it appears dealers are having trouble fulfilling one specific segment on their inventory shopping lists, Black Book’s latest price update indicated dealers aren’t paying quite as much when they do find the units they want. The newest Black Book Market Insights report showed an increase in wholesale vehicle depreciation, especially in the car segments. […] [Read More]

Copart recently announced the opening of a new location in Andrews, Texas, growing its footprint to a total of 16 locations now operating within the Lone Star State. Auctions will occur regularly every Wednesday at the new location. The Andrews location will hold its first live online car auction on Wednesday at 12 p.m. (CT), […] [Read More]

For the second consecutive year, ADESA Winnipeg has been named the National Auto Auction Association's Eastern Chapter Auto Auction of the Year in recognition of its public service. The auction has planned and participated in more than 55 events to raise over $3.5 million for various regional causes, according to NAAA. “It's my privilege to […] [Read More]

J.D. Power said Monday morning it has rolled out a Used Vehicle Price Index Service that provides a monthly index monitoring current wholesale used-car prices and forecasting future movement. The analysis is done on both an industry and segment level. The company said it can forecast prices as far out as two years.  “Lenders, manufacturers, […] [Read More]

Seeking shelter from volatile residual values, rental car companies are selling more retired rental vehicles directly to dealers and consumers through non-auction sales channels. Avis Budget Group Inc. and Hertz Global Holdings Inc. said during their respective first quarter conference calls that per-unit fleet costs rose substantially in the quarter because of lower-than-expected used-vehicle values […] [Read More]

Each time a fender scratch is buffed out or a new set of tires is installed, KAR Auction Services chairman and chief executive officer Jim Hallett sees those reconditioning activities as wins for two of the company’s most important customer bases — dealerships and commercial consignors. And the victories appear to be increasing, significantly boosting […] [Read More]

A classic car auction set for Aug. 26 at Dealers Auto Auction of Idaho will feature 60-plus cars from a personal collection of classics ranging from the years 1919 to 1982. And the story of the man behind those cars has even more depth.  “The last 20 years he’s been buying beat-up classics and restoring them because he […] [Read More]

As the company released its second quarter financial statement, KAR Auction Services also announced on Thursday the creation of a new operating segment — KAR Remarketing Services. KAR Remarketing Services is designed to align the company’s AutoVIN, Dent Demon, High Tech Locksmiths and PAR North America businesses. Picked to serve as president of this new […] [Read More]

If there is a groundswell of momentum for Bob Wolfsen’s Auto Auction In The Round concept — which has earned a patent from the United States government — auctions could physically look much differently than they do today. Walk into most auto auctions today and the arena where the sales happen has a familiar appearance: […] [Read More]

Along with an update on the specialty markets, Black Book also shared the significant difference in how much car prices depreciated last week versus trucks. The latest Black Book Market Insights report indicated cars overall decreased in value by 18 percent more than trucks. Out of all vehicle categories, editors noticed midsized cars saw the […] [Read More]