Wholesale prices of used vehicles up to eight years old fell by 2.6 percent in August, and for the first time in several months, depreciation in luxury segments outpaced that of mainstream ones, according to NADA Used Car Guide’s latest Guidelines report. August’s results, while in line with expectations for the month, represented the largest […] [Read More]

Auction Broadcasting Co. has been actively involved in flood relief for its employees at ABC Baton Rouge. ABC Baton Rouge’s facility was not damaged by the flooding, but the company said 13 of the employees who reside in the Louisiana capital lost everything. “You just cannot imagine how devastating the damage is until you see it with your […] [Read More]

Auction Management Solutions (AMS) finalized partnerships with two more independent operations for business development consulting on Wednesday. AMS, which was started in early July by industry veterans Tom Stewart and Richard Curtis, now has relationships with Rochester Syracuse Auto Auction in Waterloo, N.Y., and Greater Quad City Auto Auction in Milan, Ill. Adding these two […] [Read More]

Sporty cars saw the highest depreciation among cars last week at 1.45 percent, according to Black Book’s latest Market Insights report. All other car segments tracked by Black Book stayed under the 1 percent mark last week. “The sporty car segment declined the most, following typical seasonal patterns as summer draws to a close,” said […] [Read More]

Copart has launched its first location and online auction in Germany, the company announced Monday. The car storage and auction location is in Bad Fallingbostel, near Hanover. “This is an incredible milestone for Copart. We are now offering the full Copart model to the German market, the 10th country in which our model has been […] [Read More]

Thanks to the approval of an additional $10,000 by the National Auto Auction Association’s executive committee, the 2016 NAAA Auto Auction of the Year winner will receive a total of $25,000. The four chapter auction winners receive $5,000 each for the regional win, and the final auto auction champion for 2016 will be announced and […] [Read More]

Edie Hirtenstein has been named director of business development for instaVIN, a business unit of KAR Auction Services. She will report to instaVIN chief executive officer and president Jim Irish. Hirtenstein will be responsible for managing customer relationships and identifying and implementing innovative products and services. Her key areas of focus will be to develop […] [Read More]

Along with explaining why last month’s new-vehicle sales performance might have been good for the used market, Cox Automotive chief economist Tom Webb pointed out the Manheim Used Vehicle Value Index for August rose more than 2 percent year-over-year. Manheim reported that wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined […] [Read More]

As I walk through auction lanes on sale day, at locations across the country, I see a lot of dealers multi-tasking. Buyers are seamlessly using cell phones to gather information about vehicles lined up outside the lanes, accessing mobile apps to make offers via simulcast, and bidding on the car that is live on the […] [Read More]

JMN Transportation recently opened drive-away locations in Dallas and Daytona Beach, Fla., that will serve local auctions in those cities. The new sites joined JMN’s existing locations in Atlanta, Orlando, San Antonio and St. Louis. The Daytona location opened in February and the Dallas location opened in May.  JMN aims to match customer needs, whether […] [Read More]