Element Financial Corp. recently announced a pair of new leadership roles on its fleet management remarketing team. The leadership of Element’s remarketing team now consists of Bill Cieslak and Paul Seger, both of whom have the title of vice president of remarketing. Cieslak heads up upstream dealer direct and strategic sales channels, sales of medium/heavy […] [Read More]

The Columbus Fair Auto Auction announced on Monday the appointment of a new general manager. On Feb. 1, Chuck Dearing officially took the reins as Columbus Fair AA’s new GM. “I want everyone to understand that we are a tried-and-true independent auction — our focus is always on achieving an excellent level of customer service,” […] [Read More]

It’s interesting watching the auction industry heading towards more mobile, more technology and less personal contact. It’s also fun watching the continued vertical and horizontal integrations driven by the largest players in the market. What is not so interesting is the fact that everything we seem to be moving towards, including the automated “if bid” […] [Read More]

With gas prices low, and many consumers turning toward larger vehicles, the compact and subcompact segments suffered some pretty significant depreciation in 2015. But as we approach tax season, the early spring period is bringing with it a strengthening in values for many of these segments. According to the latest Black Book Market Insights report, […] [Read More]

Vehicles prices at auction fell a bit in January, but depreciation remains low — and analysts expect this trend to continue through the spring and tax season. And price retention is particularly strong in the full-size SUV segment, as gas prices remain unusually low. According to Black Book, the average price of a used-vehicle for […] [Read More]

The past four years of wholesale prices have been the most stable since the 1995 launch of the Manheim Used Vehicle Value Index, according to the company’s 2016 Used Car Market Report released Monday morning. But can we expect that stability to continue? Well, there will likely be compression in wholesale prices this year. “But […] [Read More]

Wholesale used-vehicle prices technically softened in January, marking only the second decline in the past eight months, to leave the Manheim Used Vehicle Value Index at 125.2 — virtually unchanged from a year ago. But Cox Automotive chief economist Tom Webb pointed out that a straight average of all auction sales in January showed wholesale […] [Read More]

Updates from Barret-Jackson this week show that the auction raised $3,406,000 for both local and national charitable organizations during its 45th Anniversary Auction held in Scottsdale, Ariz. at the end of January. The auction sold 11 charity vehicles during this year’s event, bringing the company’s overall charitable auction sales to date to a little over […] [Read More]

vAuto, whose parent company is Cox Automotive, is coming out with a new wholesale sourcing tool. The companies aim to launch the all-new Stockwave at the upcoming 2016 NADA Convention & Expo in Las Vegas. And the tool isn't just for stores who use vAuto — it is open to all dealers. Dale Pollak, the […] [Read More]

ADESA president and chief executive officer Stéphane St-Hilaire announced this week that Troy Peterson has been named general manager of the company’s upcoming ADESA Chicago location. In his new role, the company highlighted, Peterson will oversee all business operations at ADESA Chicago and lead business development in the nation’s third largest metropolitan area. Peterson will […] [Read More]