West Michigan Auto Auction has earned the inaugural 2016 Midwest Auction of the Year Award from the National Auto Auction Association, which is celebrating National Auto Auction Week from Monday through Friday. The Wayland, Mich.-based auction is one of four auctions from each of NAAA’s membership regions to win the award. Each regional chapter award winner receives […] [Read More]

ADESA Winnipeg has earned the inaugural 2016 Eastern Auction of the Year Award from the National Auto Auction Association, which is celebrating National Auto Auction Week from Monday through Friday.  ADESA Winnipeg — located in Winnipeg, Manitoba — is one of four auctions from each of NAAA’s membership regions to win the award, which honors excellence in […] [Read More]

John Kett, president and chief executive officer of Insurance Auto Auctions Inc., received the Pat Dalton Outstanding Achievement Award during the 52nd. annual SkillsUSA National Leqadership and Skills Conference in June. The award was presented before a crowd of 12,000 during the opening ceremony of the conference, which was held in Louisville, Ky. The award, which […] [Read More]

Auction sales volume has declined on a sequential basis in each of the last four months, but year-to-date it’s up 6 percent, according to NADA Used Car Guide. The four-week period ending July 25 showed auction sales volume (of units up to 8 years old) down by more than 4 percent from the prior period, […] [Read More]

Wholesale prices of vehicles up to 8 years old fell by 2.3 percent in July compared to June, tying June for the biggest monthly drop thus far in 2016. Perhaps not unsurprisingly, losses were steeper for cars than for trucks. “Price movement at the segment level followed the trend we’ve witnessed the past few months […] [Read More]

Manheim has named Denis Nazarenkov to general manager of Manheim San Diego. Nazarenkov, who has been with Manheim for a decade, most recently led people strategies for several Cox Automotive brands including DealShield, Ready Logistics, and Manheim Retail Solutions and Inspections. “The general manager role is a natural fit for Denis because of his exceptional […] [Read More]

If dealers aren’t already looking through the rental-risk unit run sheet at the auctions where they typically buy inventory, perhaps they should be — considering what might be crossing the block nowadays. “It’s interesting as we note the typical rental-risk unit comprises a much more diverse mix of models, makes and colors than there used […] [Read More]

Like dealers, executive vice president and chief economist of ADESA Analytical Services Tom Kontos is grappling with the challenge of stop-sales, too. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, wholesale used vehicle prices in July averaged $10,362 — down 2.0 percent compared to June but up […] [Read More]

Record auction sales volumes are expected this year (9.7 million units) and next (10 million) thanks to continued gains in commercial consignment, according to National Auto Auction Association chief economist Ira Silver. In a July webinar, Silver explained that unlike dealer consignment — a metric that more immediately reflects the new-car environment, which has slowed — […] [Read More]

It was the same story, different week for vehicle values — sort of.  “Last week, the depreciation rate on car segments accelerated to the highest level in the year, while truck segments, including pickups and SUVs, continue to show strength,” Anil Goyal, senior vice president of automotive valuation and analytics for Black Book, said in […] [Read More]