ServNet has a new member. Joining the independent auction group is Louisiana’s 1st Choice Auto Auction, which opened back in 2002.   “We welcome Louisiana’s 1st Choice Auto Auction as the newest member of the ServNet Auction group,” ServNet president Kevin Brown said in a news release.  “The auction is highly regarded in the industry, […] [Read More]

Manheim is amid a three-year, $4.6 million investment in its three Chicago-area auctions, the company said Thursday. The upgrades to the auctions — Manheim Chicago, Manheim Arena Illinois and Manheim Milwaukee, which are located within 100 miles of one another — run the gamut from a new Retail Advantage facility  and increased lane capacity, to […] [Read More]

If dealers noticed they were paying about the same figure for a vehicle in September as they did in August, the latest data from ADESA Analytical Services indicated that was, in fact, the case. According to ADESA’s monthly analysis of wholesale used-vehicle prices by vehicle model class, wholesale used vehicle prices in September averaged $10,734, […] [Read More]

With a host of rivers in places such as North Carolina cresting at record levels, Hurricane Matthew has floodwaters rising throughout the Southeast, wreaking havoc in communities, damaging homes, businesses and vehicles. With the American Red Cross’ previous announcement that the this year’s flooding in Louisiana was the worst U.S. disaster since Hurricane Sandy in […] [Read More]

Soon, Doug Hadden says, the wholesale vehicle market will transition from the majority of cars being sold in the auction to most being sold online. Hadden, who is the director of strategic dealer sales and services at ADESA, was speaking to dealers at a breakout session during the DealerSocket User Summit in early October. It […] [Read More]

ADESA has announced changes to its management teams in Houston; Memphis, Tenn.; Seattle; and Tulsa, Okla.; effective immediately. Michael Schenks, who was general manager at ADESA Memphis, now has the same role ADESA Houston. Ron Schritenthal, previously assistant general manager at ADESA Memphis, has been promoted to general manager of that location. Dan Watt, who was assistant general manager […] [Read More]

In a “what comes up, must come down” type of scenario, certain vehicles that have seen fairly good retention thus far in 2016 are starting to see their values drop. “The truck segments, particularly SUVs and pickups, are beginning to see larger declines after experiencing strong retention so far this year,” Anil Goyal, senior vice […] [Read More]

DRIVIN has launched DRIVIN Marketplace, allowing dealers to list and remarket unwanted inventory at wholesale prices to a nationwide network of dealers. “Our Marketplace is a smart addition to the DRIVIN experience,” said John Manganaro, vice president of product and analytics. “Our goal is to help dealer partners confidently sell, search and buy the right inventory […] [Read More]

Cox Automotive chief economist Tom Webb described September’s reading of the Manheim Used Vehicle Value Index, which represented a 1.7-percent lift year-over-year, as “not extremely unusual.” When Webb hosted his quarterly conference call on Monday, he used a potentially troublesome adjective, “problematic,” when he touched on a figure that might push wholesale prices and the Manheim […] [Read More]

BSC America has named Paul Weekes as the transportation manager of its Bel Air Auto Auction. Before his time with BSC, Weekes was branch manager at Insurance Auto Auction in Baltimore, spending eight years with IAA.  He worked at Bel Air Auto Auction from 2001 to 2004.  “Paul comes to us with over 20 years […] [Read More]