Depreciation slowed a bit last week for both cars and trucks. According to Black Book’s weekly Market Insights report, overall car values (volume weighted) decreased by 0.53 percent, which was lower than the average rate of 0.75 percent seen in the previous four weeks. Overall trucks values, also volume weighted, decreased by 0.58 percent last […] [Read More]

A retired farmer and auctioneer who is a champion for America’s Wounded Heroes raised $15,706 toward the cause during GAA Classic Cars’ recent three-day sale. Ivan Stoltzfus is travelling across the U.S. on a 1948 John Deer Model A with the goal of raising $1 million to benefit veterans’ organizations that support physical and mental […] [Read More]

More of the consignment at ADESA has moved toward the commercial side, and that has led to an increase in the revenue that company generates from each unit — whether that car is being sold online or in the auction lane. That’s according to comments made by Jim Hallett, chief executive officer of parent company KAR […] [Read More]

Cox Automotive chief economist Tom Webb reiterated many of the foundational blocks of how the Manheim Used Vehicle Value Index is constructed when explaining why the October reading came in the way it did. Manheim indicated wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) dipped 0.7 percent in October, while non-seasonally […] [Read More]

It started with a letter in the mid-1990s. Now working with 50-plus auctions and various companies in the car business, TPC Management Co. celebrated its 20th anniversary this summer.   “When we opened our doors in 1996 we could not, in our wildest imagination, have conceived of all the companies and projects we would become […] [Read More]

Copart has opened its 14th location in California. Copart Sun Valley is the global online auction company’s sixth location in Southern California. “Identifying and purchasing land in such a densely populated area such as Los Angeles is a real testament to our team,” said Jay Adair, chief executive officer of Copart. “This location is our sixth location in Southern California and will […] [Read More]

Auto Remarketing has announced its 2016 National Remarketing Executives of the Year, and earning this year's distinction are Greg Thibault and Todd August of Avis Budget Group.  Thibault, who joined Avis Budget in 1997, is the company’s vice president of fleet disposal, and August (who joined the previous year) is director of wholesale operations. Auto […] [Read More]

Prices of used vehicles from model years 2011-2015 depreciated by an average of 2.9 percent in October — steeper than the average 2.3 percent depreciation seen in September. According to Black Book, domestic cars are exemplifying ramped-up depreciation that is typically seen going into the fourth quarter. During the last three months, domestic cars have […] [Read More]

XLerate Group announced on Wednesday the opening of a detail and reconditioning center for its South Carolina location, Charleston Auto Auction. “Our new detail and reconditioning facility brings exciting new capabilities and supports our continuing growth,” said Laura Taylor, general manager at Charleston Auto Auction. “The detail shop offers a multi-line production process and is […] [Read More]

Here’s some scary good news: MetroGistics’ fifth annual Monster Mash Halloween Party raised nearly $19,000 for the Humane Society of Monroe County, Ill., and the Humane Society of St. Clair County, Mich. In addition to food, drinks and prizes, the Oct. 15 event at the Living World Building at the Saint Louis Zoo included a […] [Read More]