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]

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]

ADESA chief economist Tom Kontos noticed prices in the lanes moved as he expected in August. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, prices in August averaged $10,738, which was 0.6 percent lower compared to July but 4.6 percent higher relative to August of last year. […] [Read More]

On Monday, ADESA promoted Trent Strauss to be director of dealer relations, effective immediately. He will report to Steve Dudash, the company’s vice president of dealer services. In his new role within the business unit of KAR Auction Services, Strauss will lead the local auction dealer relations teams throughout the United States and oversee deployment of the […] [Read More]

Time to take those lederhosen out of storage. Twelve northeast Manheim locations are taking part in a four-week Oktoberfest celebration featuring themed décor, games, food, pre- and post-sale giveaways, prizes and unique buying/selling opportunities.   “As we are transitioning from summer to fall, Oktoberfest is a great opportunity to have fun and showcase the 150,000-plus […] [Read More]

Be they online-only sales or simulcast, how big is digital in the wholesale marketplace? Kevin Brown, president of ServNet and the general manager and co-owner of Missouri Auto Auction, says he’s not aware of many that haven’t welcomed the technology. Sure, many were hesitant initially to embrace the digital wholesale space, Brown said, counting himself […] [Read More]

Auction Management Solutions Inc. announced it has partnered with Columbus Fair Auto Auction for business development consulting.  AMS, which was founded in early July by industry veterans Tom Stewart and Richard Curtis, provides consulting services to independent auto auctions and others in the auto industry. Greg Levi, chief operating officer for the Columbus, Ohio-based CFAA, […] [Read More]

Insurance Auto Auctions rolled out its newest tool on Tuesday — IAA Loss Advisor — which the business unit of KAR Auction Services highlighted as a solution that can help insurance claims staff. The company explained IAA Loss Advisor can quickly generate an early total loss recommendation based on information insurance personnel provide regarding the […] [Read More]

Price declines were seen across a variety of segments last week, but what’s notable is that car prices as a whole fell slightly less than truck prices — a deviation from recent trends. Volume weighted, overall car segment prices from model years 2008-2014 decreased by 0.46 percent last week, which was better than the depreciation […] [Read More]

Along with appointing a new chief executive officer, ACV Auctions this week announced that it has raised $5 million in venture funding, led by Tribeca Venture Partners, with participation from SoftBank Capital NY, Armory Square Ventures and Rand Capital. In addition, the company appointed Synacor founder George Chamoun as CEO. In conjunction with the financing, […] [Read More]