The average 12-month depreciation for vehicles from the 2011-2015 model years was 17.3 percent last year, according to Black Book, which said depreciation rates began to stabilize at the close of 2016. Twelve-month depreciation for car segments was at 20 percent, with truck segments averaging 15.5 percent. In the final month of the year, overall […] [Read More]

Auction Academy, a continuing education program developed by TPC Management Co. for professionals in the auto auction industry, reports that it closed the year graduating its fourth class, and hosting the last session of its recently expanded annual Seminar Series. “In planning both our two-year Program and the shorter focused Seminar Series, we continue to cover topics that […] [Read More]

TradeRev, a mobile appraisal and auctioning app for dealers, opened its U.S. headquarters in Carmel, Ind., on Tuesday. The company, which is part of KAR Auction Services, has been expanding globally but wanted a “centralized headquarters” for its U.S. operations. “We are officially planting our roots in the U.S. with our new headquarters office that […] [Read More]

Manheim is now the exclusive remarketing partner of Maserati North America, the auction company said in a statement Thursday. Manheim will work with the car company to centralize its wholesale processes, a move that will include revamping its fleet management program and selling Maserati’s off-lease, buyback and company owned units. As part of the deal, […] [Read More]

OVE and DealShield are offering an online-only promotion through March 31 that gives dealer clients who participate exclusive access to inventory not seen at auction. “This promotion is ideal for first-time and repeat users of our digital services,” said Derek Hansen, vice president Digital and Inventory Services at Manheim. “Everyone reaps the rewards that come […] [Read More]

On Tuesday, Hertz announced the appointment of Kathryn Marinello as president and chief executive officer. Marinello has been elected by the boards of directors of Hertz Global Holdings and Hertz Corporation to replace John Tague in early January. Tague will retire as Hertz president and chief executive officer on Jan. 2. "Kathy (Marinello) is a […] [Read More]

JMN Transportation’s Florida location in Orlando created a new position for a local transportation manager and on Tuesday announced the appointment of Evelyn Rodriquez to the post. The company said the expansion of business and along with a recent contract renewal led to the decision to establish the new role. “Evelyn comes to us with […] [Read More]

On Friday, Copart announced plans to expand its location in Tifton, Ga. "Our Copart Tifton expansion is a great compliment to the six other locations we have in Georgia," said Jay Adair, chief executive officer of Copart. "We recently announced six other expansions and two new locations along the East Coast.” The online vehicle auction […] [Read More]

Cox Enterprises announced it elected Henry Parry-Okeden to its board of directors Thursday. The entrepreneur in the hospitality industry is also the great-grandson of James Cox, the company's founder. Parry-Okeden joins business leaders and three generations of Cox family members, Anne Cox Chambers, Jim Kennedy, Alex Taylor and Jamie Kennedy. "We are excited that Henry […] [Read More]

Manheim announced general manager appointments at four locations on Wednesday: Trevor Enge at Manheim Georgia, John Duplanty at Manheim Tucson, Gus Jones at Manheim Arizona and Maxine Vega at Manheim New Mexico. “Backed by their experience and passion for the business, these general managers will help Manheim deliver outstanding client service and continuously improve the […] [Read More]