While prices for truck decreased last week by a higher figure than Black Book had seen in a month, auction observers watched more vehicles of all segments roll over the block without the hammer falling. Multiple Black Book personnel reported that no-sales moved higher last as November closed and December began. A lane watcher in […] [Read More]

Cox Automotive chief economist Tom Webb shared his theory as to why wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined 1 percent in November. Webb explained that what brought the Manheim Used Vehicle Value Index to a reading of 124.7 for November — a decrease of 0.3 percent from a year […] [Read More]

Effective Dec. 1, Columbus Fair Auto Auction announced that Greg Levi has been promoted to president and chief operating officer. Levi had served as general manager for three-and-a-half years and has been COO since August of last year. Now, he has the role of president of CFAA, too. “Our auction has gone through a transformation this […] [Read More]

Copart, the global online vehicle remarketer, announced the expansion of its Newburgh, N. Y. location on Thursday. "Our recent expansions and openings of new locations across the country are a reflection of our vision to provide an unmatched experience, every day and everywhere that is driven by our people, process and technology," said Jay Adair, […] [Read More]

Boosting its presence in Texas, the XLerate Group on Thursday announced it has added a new member to its auction family with the acquisition of Lone Star Auto Auction (LSAA). Company leadership highlighted the Lubbock-based auction complements XLerate’s existing Texas locations in Dallas and El Paso as well as the two sites in Austin.  XLerate […] [Read More]

Cox Automotive and Jive Software will discuss best practices for building an engaged workforce in a free live webinar next Thursday entitled, "Building an Engaged Workforce at Cox Automotive." Cox Automotive communications manager Billy Auer will join Darshita Maniar, senior manager of product marketing at Jive Software, to examine the tools and technologies used to support employees […] [Read More]

Cox Automotive presented its Community Impact Award to Karlea Marin of J.P. Morgan Chase during the National Remarketing Conference/National Auto Auction Association Convention at the Red Rock Casino and Resort in Las Vegas. Presented by Manheim senior vice president of inventory services Grace Huang, this award recognizes a remarketing industry leader for his/her outstanding contributions […] [Read More]

Alliance Inspection Management (AiM) made a pair of personnel announcements on Tuesday. First, the third-party inspection company said that 20-year industry veteran Michael Connolly has joined the AiM team as vice president of auction operations. Concurrently, AiM has promoted Jeff Gaetz to the newly created position of vice president of business development, with an initial […] [Read More]

Manheim’s mobile auction program now produces a higher sales rate than the company’s other channels, such as in-lane, mobile and online. The auto auction company says its clients are averaging 70 percent sales rates through mobile auctions. “Mobile auctions extend the reach and bring the excitement of the live, wholesale auction experience anywhere there is […] [Read More]

Typically, compact luxury crossovers/SUVs have retained their values well. In fact, a graph of Black Book data going back to January 2013 shows that 3-year-old vehicles in this segment have maintained retention above 54 percent in recent years, sometimes as high as roughly 63 percent. That is, until this autumn. According to Black Book’s latest […] [Read More]