The XLerate Group has purchased Corry Auto Dealers Exchange, the auction group announced Friday. This marks XLerate’s first foray into Pennsylvania and brings its auction brand count to 10. The group now has auction sales in California, Florida, Michigan, Pennsylvania, South Carolina, Texas and Wisconsin. “CADE is the latest step in XLerate’s plan to grow our […] [Read More]

Manheim announced that it is hosting a grand opening of Manheim Little Rock, its first location in Arkansas, on Wednesday as part of its strategic plan to expand into underserved areas in the U.S. this year. The company said it made the decision to open the Little Rock location after considering dealer demand in the […] [Read More]

Continuing education provider Auction Academy — which starts sessions for its  two-year program on April 6 — announced that this is the first year it has opened enrollment to commercial account representatives and dealers. Auction Academy’s program began as a course of study just for the children of independent auction owners in 2012. “We have successfully […] [Read More]

Along with releasing its latest weekly price movement update via the Black Book Market Insights report, the firm’s data also indicated the average price of a used vehicle for model years 2011 through 2015 depreciated by 0.8 percent in February. Editors noticed cars overall produced depreciation of 0.8 percent versus trucks, which saw 0.7 percent […] [Read More]

Insurance Auto Auctions announced its  expansion of auction locations in Arkansas, Idaho, Indiana, Louisiana, Maine, Pennsylvania and Oregon in order to meet and anticipate increasing customer demand. Its facilities which now occupy 173 locations in the U.S. and Canada. The salvage vehicle auction company says its plans for growth within the seven states exhibits its commitment to […] [Read More]

Cox Automotive chief economist Tom Webb explained why February’s wholesale price data reinforced a possible market moniker — stability. Manheim reported on Tuesday that wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) fell by 0.2 percent in February. However, Webb pointed out that given a sharp decline in pricing in February of last […] [Read More]

Subprime auto finance company Consumer Portfolio Services recently announced its top performing auctions for 2016. The event, attended by the 2016 winners along with CPS remarketing manager Mike Scott and senior vice president of asset recovery Laurie Straten, was held at the CAR Convention last week in Las Vegas. Award winners for 2016 are as […] [Read More]

Manheim Orlando, one of the largest operating facilities of Manheim North America, was recently named Big Business of the Year by the Orlando Chamber of Commerce in recognition of the location’s local economic impact and the team’s dedication to community service. The Orlando Chamber of Commerce presented the Manheim Orlando team with its Big Business […] [Read More]

Automotive industry veteran Richard Howse has joined KAR Auction Services as its new chief commercial officer, the company announced on Wednesday. Most recently, Howse served as senior vice president of marketing and business development at Volkswagen Credit. Howse’s automotive industry leadership background spans over 30 years. “Rich has led growth and change in a variety […] [Read More]

To support its efforts to drive future region growth, Manheim this week announced general manager appointments in three locations: J.D. Guerrero at Manheim El Paso, Heath Sanderson at Manheim Birmingham and Steve Robinson at Manheim Omaha. “With significant leadership experience in our organization, these new general managers will help us deliver an outstanding experience at […] [Read More]