It was a “down” week, according to the latest Black Book Market Insights report. Every segment — with the exception of small pickups — saw broad declines in the seven-day period ending Friday. Volume weighted, overall car values decreased by 0.43 percent last week, similar to the average depreciation rate of 0.40 percent seen in the previous […] [Read More]

On the same day but some 2,800 miles east of the 68th CarMax Auction’s grand opening in the San Francisco Bay Area, dozens of dealers gather under and around a garage-like structure on Tuesday morning. Much like the soggy weather here in the capital of North Carolina, the exterior of this building is gray. But […] [Read More]

The XLerate Group has purchased the EPI-El Paso auction from the McConkey Auction Group. With the addition of EPI, XLerate now has Texas auctions in Austin, Dallas and El Paso, plus its locations in California, Florida, South Carolina, Michigan and Wisconsin. “EPI is the latest step in XLerate’s plan to grow our business, footprint, and […] [Read More]

The weather forecast may be favorable, but new historical forecast data from Black Book shows the outlook for small cars — particularly subcompacts — is not so sunny. Vehicles in that segment, including such models as the Toyota Yaris and Prius, Nissan Versa, Kia Soul, Honda Fit, Ford Fiesta and Chevrolet Spark, have depreciated 26.1 […] [Read More]

Former National Auto Auction Association president Gregg Kobel passed away Thursday at age 67, NAAA said in a condolences message Monday. Kobel was the 2007-2008 NAAA president and also served as president and director of the Midwest Auto Auction Association, NAAA said. NAAA also recognized Kobel with its annual Industry Pioneer Award at last year's convention in […] [Read More]

Unless you’ve been living under a 2-ton truck, you likely haven’t missed the news that leasing hit a high during the first quarter this year, surpassing 30 percent of all new-vehicle transactions. Given that information, you’ve likely thought about what happens as all these off-lease vehicles start returning to the market in droves. Here at […] [Read More]

ADESA has promoted two within its dealer services team. C.J. Lopez, previously major dealer accounts manager, has been promoted to director of major dealer accounts. Kjersta Loyd, formerly general sales manager of ADESA Golden Gate, has been promoted to regional dealer sales manager for the Mideast/Midwest regions. Both positions will report to Steve Dudash, vice president […] [Read More]

Global online vehicle auction company Copart has announced the expansion of its Houston location. “For Copart, the saying of ‘everything is bigger in Texas’ rings true for us, especially this year. Expanding our Houston location is just one of many indications of our growth in this great state,” chief executive officer Jay Adair said in […] [Read More]

KAR Auction Services business unit Insurance Auto Auctions rolled out its newest offering on Tuesday, something the salvage auction company is calling IAA Express Notary. Officials highlighted this service allows for the electronic assignment of title documents in an attempt to shorten the cycle time significantly for total loss settlements. This tool is the newest […] [Read More]

In a Black Book graph showing year-to-date used-vehicle value movements, the trend line for trucks shows more waves than the line for car segments. But lately, both are consistently moving downward, the company said in the latest Black Book Market Insights report. “Both car and truck segments are starting to show a consistent depreciation rate […] [Read More]