KAR Auction Services chief economist Tom Kontos reported overall wholesale prices in May rose nearly 4 percent year-over-year. But a recent addition to Kontos’ analysis in order to give the industry a better understanding “once again shows significant price softening.” According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model […] [Read More]

The National Auto Auction Association’s deadline to submit nomination applications for its 2017 Auto Auction of the Year Award for Excellence in Community Service is July 14. Nominations close at 11:59 p.m. (PDT) that day. Click here for application submission details. Four Chapter Auto Auction of the Year Award recipients will be announced as part […] [Read More]

Insurance Auto Auctions has begun constructing IAA Fort Worth North, the company’s upcoming new branch scheduled to open in November. The new 18,000-square-fot branch will sit on 200 acres north of the Dallas-Fort Worth area, complementing IAA branches in Grand Prairie and Wilmer, IAA said. IAA Fort Worth North will include office, run and drive […] [Read More]

As lane watchers noticed dealers intensify their search for clean or better units, the latest Black Book Market Insights report showed truck segments continuing to out-perform their car counterparts. Ironically out of all segments — and perhaps a nod to the first official day of summer coming in a few days — editors found that […] [Read More]

Having reached 200 locations worldwide and updating its mobile app earlier this year, Copart made another significant move on Monday, announcing that it has acquired Cycle Express, which conducts business primarily as National Powersport Auctions (NPA). Officials highlighted NPA currently operates facilities in Atlanta, Cincinnati, Dallas, Philadelphia and San Diego. They explained NPA predominantly auctions […] [Read More]

Janet Barnard, the president of Cox Automotive Inventory Solutions, will deliver Wednesday’s opening general session at the NIADA Convention & Expo. Her address on “Driving Wholesale Velocity Together” is set for 8:30 a.m. (PT) and will delve into “how evolving digital and mobile solutions can address rising off-lease vehicle volumes, changing customer expectations and set […] [Read More]

KAR Auction Services announced that four of its leaders from KAR and its ADESA and Automotive Finance Corp. business units will be featured speakers and panelists at the National Independent Auto Dealers Association Convention & Expo this week in Las Vegas. The vehicle remarketing and technology solutions provider’s speakers include KAR chief economist Tom Kontos, AFC […] [Read More]

According to Black Book data, the average price of a used vehicle for model years 2011 to 2015 decreased in value by 1.2 percent in May. Editors explained that movement represented a reversal from April when values actually increased 0.4 percent. Black Book indicated overall car values dropped by 1.8 percent, and trucks decreased by […] [Read More]

 As the mobile auction format continues to attract more dealers across the country, companies within the industry are continuing to push the wholesale auction experience and communicate the benefits that many used-car managers praise. “We’re averaging well over 60 mobile auctions per month around the country right now, and that’s a huge increase from just barely […] [Read More]

Jim Yates, president and chief executive officer of Alliance Inspection Management (AIM), has announced his retirement from the company and is moving into a 12-month consulting role effective immediately, according to a news release from the company posted on Wednesday. Yates, an automotive industry veteran who began his career at an auto dealership in 1975, […] [Read More]