Cox Automotive chief economist Tom Webb tipped his cap, so to speak, with regard to dealers being able to turn used metal after reviewing how wholesale prices behaved during the opening month of the year. Manheim reported on Tuesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) slipped slightly in January. […] [Read More]

I want to wish everyone a Happy New Year and continued success in our industry in 2017. I have made the decision to make this my final year of writing these editorials and again, I thank Bill Zadeits and his team for the opportunity and I hope to light a fire under key issues in […] [Read More]

Black Book found that both its vehicle value data and mood in the lanes reflected an upbeat direction as the industry approaches spring activities. This week’s Black Book Market Insights report again showed compact cars demonstrating better retention heading into the early spring selling season. Editors mentioned the overall truck segment values decreased by only […] [Read More]

The International Automotive Remarketers Alliance has launched a new website and opened up its membership renewal and member enrollment period for North America, the organization said in a news release. Starting today, current IARA members or those interested in becoming members can go to www.iara.biz to renew or apply, respectively.   IARA said in the […] [Read More]

RMS Automotive — Cox Automotive’s portfolio management solutions provider — announced on Wednesday that four of its key personnel have transitioned into new and expanded roles; they include Zach Hallowell as general manager, David Gaynoe as assistant vice president of global sales and marketing, Connie Suozzo as assistant vice president of operations and Ilana Kearns as […] [Read More]

ADESA’s auction at the NADA Convention and Expo on Saturday raised $94,423 for the NADA Foundation’s Frank E. McCarthy Memorial Fund, which supports Canine Companions for Independence — a non-profit organization that provides people with disabilities highly trained service dogs. “We asked dealers and attendees to bid high in honor of the 100th anniversary of […] [Read More]

Auto Remarketing learned on Friday afternoon that America’s Auto Auction is growing to 19 locations through the acquisition of Auction Broadcasting Co. America’s Auto Auction president and chief executive officer Ben Lange confirmed in a statement to Auto Remarketing that the deal is effective immediately. “America’s Auto Auction is proud to announce the acquisition of Auction […] [Read More]

As 2016 came to a close, RVI Group’s latest Market Update revealed that while used-car prices decreased in December compared to a year earlier, prices posted a slight uptick when compared to the prior month and making an economic adjustment. The RVI Used Vehicle Price Index for December decreased by 0.2 percent when compared to November. And […] [Read More]

ACV Auctions said Wednesday that it has expanded into northeast Ohio, Washington D.C., and eastern Massachusetts, while also announcing it will debut  a new incentive program for multi-site dealerships at the NADA Convention & Expo this week.  In addition to the three new territories, the company ended 2016 entering upstate New York, western Massachusetts, Pittsburgh and […] [Read More]

Value retention for car segments is at a six-month high, according to Black Book, and the movement in one particular segment is proving to be “an encouraging sign.” Overall, car segments saw a 0.39-percent depreciation rate last week, the company reported in the latest Black Book Market Insights report. It was at 0.43 percent for […] [Read More]