Thanks to the approval of an additional $10,000 by the National Auto Auction Association’s executive committee, the 2016 NAAA Auto Auction of the Year winner will receive a total of $25,000. The four chapter auction winners receive $5,000 each for the regional win, and the final auto auction champion for 2016 will be announced and […] [Read More]

Edie Hirtenstein has been named director of business development for instaVIN, a business unit of KAR Auction Services. She will report to instaVIN chief executive officer and president Jim Irish. Hirtenstein will be responsible for managing customer relationships and identifying and implementing innovative products and services. Her key areas of focus will be to develop […] [Read More]

Along with explaining why last month’s new-vehicle sales performance might have been good for the used market, Cox Automotive chief economist Tom Webb pointed out the Manheim Used Vehicle Value Index for August rose more than 2 percent year-over-year. Manheim reported that wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) declined […] [Read More]

As I walk through auction lanes on sale day, at locations across the country, I see a lot of dealers multi-tasking. Buyers are seamlessly using cell phones to gather information about vehicles lined up outside the lanes, accessing mobile apps to make offers via simulcast, and bidding on the car that is live on the […] [Read More]

JMN Transportation recently opened drive-away locations in Dallas and Daytona Beach, Fla., that will serve local auctions in those cities. The new sites joined JMN’s existing locations in Atlanta, Orlando, San Antonio and St. Louis. The Daytona location opened in February and the Dallas location opened in May.  JMN aims to match customer needs, whether […] [Read More]

Volume weighted, overall car values decreased by 0.75 percent last week — higher than the average depreciation rate of 0.66 percent observed in the previous four weeks. Meanwhile, overall truck values decreased by 0.37 percent last week, which was similar to the average depreciation rate of 0.40 percent seen in the previous four weeks. “Most […] [Read More]

KAR Auction Services Inc. has promoted Stacey White to senior vice president of enterprise optimization. In addition to her other responsibilities, White will now oversee transportation at the corporate level. She will continue to oversee the company’s procurement and sourcing strategies, while still leading the team charged with standardization of operations and processes at all […] [Read More]

Scott Finkle is transitioning out of his leadership position with Auction Edge into an advisory role, the company announced Wednesday. Dan Diedrich takes over as president. Diedrich, previously a senior vice president, has been part of Auction Edge’s management team since 2012 and has worked in the industry for more than 18 years. He was also a […] [Read More]

There was a bit of role reversal when it came to vehicle depreciation last week. “The steeper depreciation seen recently in the car segments slowed last week while the depreciation on crossovers and SUVs accelerated,” Anil Goyal, senior vice president of automotive valuation and analytics, said in the latest Market Insights report. Volume-weighted, overall car […] [Read More]

RVI Group’s latest Market Update report shows that used-car prices increased in July when compared to June, but were down from a year ago. Adjusting for inflation, the RVI Used Vehicle Price Index increased by 0.4 percent month-over-month in July. But the index was down 3.4 percent from last July. On a nominal basis, the […] [Read More]