Wholesale
Cox Automotive’s Barnard receives Leadership Character Award
Monday, Oct. 10, 2016, 01:48 PM
Auto Remarketing Staff
Janet Barnard, president of Cox Automotive Inventory Solutions, received the 2016 Leadership Character Award in the CEO/President/Managing Partner — Large Company category. The company said Barnard was recognized for her integrity; her commitment to treating clients, suppliers, co-workers and others with respect; and for maintaining a culture in which everyone takes responsibility for achieving results […] [Read More]
Joe George named SVP of Manheim vehicle solutions
Friday, Oct. 7, 2016, 08:19 PM
Auto Remarketing Staff
Cox Automotive announced Friday it has appointed Joe George senior vice president of Manheim Vehicle Solutions, replacing Shane O’Dell, who recently was named president of Cox Automotive Financial Services. George will move into the position on Oct. 17 and report to Janet Barnard, president of Cox Automotive Inventory Solutions. “Joe is a proven leader with […] [Read More]
Sept. update: Manheim on prices & Black Book on depreciation
Friday, Oct. 7, 2016, 08:03 PM
Auto Remarketing Staff
Whether looking from the dealer perspective of used-vehicle prices for units running down the lanes or movements in depreciation that finance companies might consider, neither Manheim nor Black Book spotted dramatic shifts when analyzing their respective September data. First, Manheim determined wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) remained unchanged between August […] [Read More]
Black Book’s Q3 depreciation rundown
Tuesday, Oct. 4, 2016, 08:05 PM
Auto Remarketing Staff
Along with looking at last week’s movements, the Black Book Market Insights report also examined what happened this past quarter. Editors noticed overall depreciation in trucks performed better than cars. Black Book reported that full-size pickups represented the best-performing segment in the third quarter with 3 percent quarterly depreciation. Conversely, editors pointed out the sub-compact […] [Read More]
New GMs at 3 ADESA locations in Florida
Monday, Oct. 3, 2016, 06:31 PM
Auto Remarketing Staff
On Monday, ADESA announced changes to its auction management teams at ADESA Orlando, ADESA Sarasota and ADESA Tampa, effective immediately. The business unit of KAR Auction Services said Jeff York, previously general manager of ADESA Sarasota, will lead ADESA Orlando as general manager. The company indicated Curt Farris, previously general manager at ADESA Tampa, will […] [Read More]
Manheim broadens AutoGrade availability to non-NAAA auctions & more
Monday, Oct. 3, 2016, 01:19 PM
Auto Remarketing Staff
To meet the growing demand from consignors for more consistency in vehicle valuation processes, Manheim on Monday morning announced plans to expand its AutoGrade condition score licensing program. Initially distributed only to National Auto Auction Association member auctions, the company highlighted the electronic vehicle condition reporting system will now be made available to all non-NAAA auctions […] [Read More]
KAR names vice president of IT Shared Services
Friday, Sep. 30, 2016, 06:15 PM
Auto Remarketing Staff
KAR Auction Services announced a vice president of KAR IT Shared Services on Thursday, promoting Gary Fields to the position. Fields has been with the company since 2003, when he joined the IT department of subsidiary Automotive Finance Corp. His most recent post was as director of KAR IT Shared Services. “Throughout Gary’s career at […] [Read More]
RVI sees used prices softening 7.2% by 2019
Wednesday, Sep. 28, 2016, 07:59 PM
Sara Schweiger, Staff Writer
An increase in supply plus growing incentive activity will push used-car prices down 7.2 percent from current levels over the next three years, RVI Group said in its September Risk Outlook report. RVI’s lease supply index — a measure of off-lease vehicles in the market — rose 24.9 percent in August compared to the same […] [Read More]
Subcompact car depreciation slower last week
Tuesday, Sep. 27, 2016, 06:38 PM
Sara Schweiger, Staff Writer
On the whole, cars depreciated faster than trucks last week — a return to recent trends after the previous week’s reversal. But subcompact car values got a reprieve last week, according to Black Book's weekly Market Insights report released Tuesday. Volume weighted, overall car segment values decrease by 0.68 percent last week. This was similar […] [Read More]
Manheim expands Enhanced Vehicle Imaging to 74 locations
Tuesday, Sep. 27, 2016, 04:22 PM
Auto Remarketing Staff
In response to client demand, Manheim highlighted on Tuesday that the company has nearly tripled the availability of Enhanced Vehicle Imaging (EVI), expanding from 25 to 74 auction locations throughout North America. Manheim reiterated that EVI is designed to provide a consistent set of quality high-resolution images that can showcase vehicles in an optimal way. […] [Read More]
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