Well, the convergence of cars and trucks depreciating at the same rate lasted all of a week. The newest Black Book Market Insights report showed truck segments deprecating only by 0.9 percent last week, much less that in comparison with the car segments, which depreciated by 0.31 percent overall. In fact, editors noticed three specific […] [Read More]

In the past, Manheim has hosted mobile auctions in some pretty unique locations — dealership lots, convention centers, NASCAR race tracks, even a minor league baseball park — but the company insisted the latest location tops them all. Recently, Manheim UK held what is believed to be the first vehicle auction at sea. The unique […] [Read More]

With fireworks popping because of the Fourth of July, Auction Management Solutions is celebrating too, and not just for patriotic reasons, as the consulting firm started by industry veterans Tom Stewart and Richard Curtis has reached its one-year anniversary. This past year, AMS highlighted that it has seen explosive growth in its core business of providing […] [Read More]

Along with taking a closer look at how volume will impact compact cars’ residual values, RVI Group’s Risk Outlook for June indicated that used-vehicle prices in May softened on a year-over-year comparison but ticked slightly higher on a sequential basis. The report indicated that real used-vehicle prices for 2- to 5-year-old units on a seasonally […] [Read More]

Since launching its Auction Safety Certification and Lane Safety Training series 14 months ago, the National Auto Auction Association said that more than 7,000 people within the industry have been certified under the safety program. The courses, NAAA said in a news release on Thursday, include educational videos that aim to promote safety and prevent accidents. […] [Read More]

Franchise Services of North America (FSNA) — which among its subsidiaries includes U-Save Car & Truck Rental, U-Save Car Sales, Auto Rental Resource Center (ARRC), Xpress Rent A Car, Sonoran National Insurance Group and Peakstone Financial Services — filed for Chapter 11 bankruptcy protection this week. The company said it made the move in the […] [Read More]

It’s no secret or surprise that used-car volumes are up, but a survey released Tuesday sheds some light on where a significant portion of those cars are going: the $100 billion business of vehicles moving through wholesale auto auction lanes.  There were 17.7 million vehicles that reached the auction in 2016, which was 2.3 percent higher than the […] [Read More]

With some upbeat signs in the lanes that dealers are preparing to move used metal as the summer heats up, the Black Book Market Insights report showed car and truck segments depreciating at the same level. Editors determined that both overall segments softened by 0.25 percent last week. They also mentioned compact vans performed the […] [Read More]

Perhaps one day, self-driving vehicles will be coming down the off-rental lanes at the auctions you most frequent. On Monday, Avis Budget Group announced that it has signed an agreement with Waymo to offer fleet support and maintenance services for Waymo's self-driving car program at Avis Car Rental and Budget Car Rental locations. Under the […] [Read More]

The National Auto Auction Association held a mock auction on Capitol Hill to interactively educate policymakers about the wholesale auction business and the role it plays in both the auto industry and the U.S. economy. Staffers and legislative aides of the Senate Automotive Caucus joined NAAA in the Russell Senate Office Building on June 16, […] [Read More]