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]

Auction Management Solutions (AMS) continued to add to its client roster on Monday as the firm now has partnered with Greater Erie Auto Auction in Erie, Pa., for business development consulting. Started in early July by industry veterans Tom Stewart and Richard Curtis, AMS now has eight auction partners, including DAA Chattanooga, DAA Murfreesboro, DAA Memphis, […] [Read More]

Following a study conducted by the Best Companies Group, Auto Remarketing has announced the honorees in the inaugural Best Auto Auctions to Work For. Auto Remarketing, teaming with Best Companies Group (BCG) in Pennsylvania, underwrote the workplace study. BCG staff administered all of the surveys, then analyzed the data from the group of auctions choosing to […] [Read More]

ADESA has announced changes to its management teams at ADESA Orlando and ADESA Los Angeles, effective immediately. Theo Jelks, previously general manager of ADESA Los Angeles, will lead ADESA Orlando as general manager. Jeff Brinkley, previously assistant general manager at ADESA Indianapolis, will step into the role of assistant general manager. “Theo is a proven leader […] [Read More]

Perhaps contrary to dealers who do not have unlimited floor-plan availability, Cox Automotive chief economist Tom Webb said “wholesale pricing is not exceptionally high” even as the Manheim Used Vehicle Value Index moved higher for the fourth consecutive month. Wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) increased in July by […] [Read More]

Copart has announced the expansion of its location in San Antonio. Earlier this year, Copart purchased locations in Temple and Wilmer, bringing the total number of Texas locations to 14. “We are excited to expand our location in a community we are already a part of,” said Jay Adair, chief executive officer of Copart. “This […] [Read More]

It’s not just the retail operations of dealerships that are being impacted by the Takata airbag stop-sale. There is also a “backlog” of cars that would otherwise be hitting the wholesale market, KAR Auction Services chief executive Jim Hallett said during his company’s earnings call Wednesday. KAR is the parent company of auction company ADESA. […] [Read More]