Manheim Pennsylvania is hosting its largest and most extensive Xtreme Spring sales event for specialty consignment on Thursday and Friday. Officials said the sale will feature seven vehicle types across eight sales lanes, including modern muscle, rare classics, Corvettes and motorcycles as well as cars priced $75,000, $100,000 and $200,000. “If dealers haven’t attended the […] [Read More]

This week, KAR Auction Services announced that Sriram “Srisu” Subrahmanyam has joined the company as senior vice president of business transformation. The company noted Subrahmanyam brings more than 20 years of executive operations and consulting experience to the role, including leadership positions across multiple Fortune 1000 companies and industries such as aviation, technology, logistics and […] [Read More]

Used-car managers looking for luxury cars might be finding deals in the lanes, according to the latest Black Book Market Insights Report. Black Book senior vice president of automotive valuation and analytics Anil Goyal said, “Luxury brand cars have shown higher drops in value on a percentage basis in the recent weeks in comparison to […] [Read More]

On Monday, Black Book announced another regular analysis offering covering the wholesale market — the Black Book Used Vehicle Retention Index — saying this product is designed to offer an “unbiased, accurate” view of the strength of today’s used wholesale market values. Editors explained the Black Book Used Vehicle Retention Index is calculated using Black […] [Read More]

The XLerate Group has purchased Corry Auto Dealers Exchange, the auction group announced Friday. This marks XLerate’s first foray into Pennsylvania and brings its auction brand count to 10. The group now has auction sales in California, Florida, Michigan, Pennsylvania, South Carolina, Texas and Wisconsin. “CADE is the latest step in XLerate’s plan to grow our […] [Read More]

Manheim announced that it is hosting a grand opening of Manheim Little Rock, its first location in Arkansas, on Wednesday as part of its strategic plan to expand into underserved areas in the U.S. this year. The company said it made the decision to open the Little Rock location after considering dealer demand in the […] [Read More]

Continuing education provider Auction Academy — which starts sessions for its  two-year program on April 6 — announced that this is the first year it has opened enrollment to commercial account representatives and dealers. Auction Academy’s program began as a course of study just for the children of independent auction owners in 2012. “We have successfully […] [Read More]

Along with releasing its latest weekly price movement update via the Black Book Market Insights report, the firm’s data also indicated the average price of a used vehicle for model years 2011 through 2015 depreciated by 0.8 percent in February. Editors noticed cars overall produced depreciation of 0.8 percent versus trucks, which saw 0.7 percent […] [Read More]

Insurance Auto Auctions announced its  expansion of auction locations in Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania and Oregon in order to meet and anticipate increasing customer demand. Its facilities which now occupy 173 locations in the U.S. and Canada. The salvage vehicle auction company says its plans for growth within the seven states exhibits its commitment to […] [Read More]

Cox Automotive chief economist Tom Webb explained why February’s wholesale price data reinforced a possible market moniker — stability. Manheim reported on Tuesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) fell by 0.2 percent in February. However, Webb pointed out that given a sharp decline in pricing in February of last […] [Read More]