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]

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]

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]

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]

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]

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]

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 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]

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]