Though wholesale prices were on the way down as 2015 came to a close, there are a few factors that held rates in the lanes up last year, even as used supply began to grow. According to ADESA Analytical Services, wholesale prices in December averaged $9,763, down 1.2 percent compared to November. December’s average represented […] [Read More]

Cox Automotive announced Tuesday the appointment of Eric Jacobs as the company’s new senior vice president of corporate development. Most recently working for Dealertrack Technologies, Jacobs is now responsible for leading strategic business development for Cox, including mergers and acquisitions, while also continuing to create partnerships for the company’s client portfolio. Jacobs now reports directly […] [Read More]

A new auction simulcast solution has officially hit the market — and it is one that was developed by the pair of brothers who were brought in to design AuctionPipeline.com in 2005. Auction Frontier LLC, a company founded by Scott and Brad Suchomel that focuses on online auction solutions, announced Tuesday it has launched Velocicast. “After many years […] [Read More]

Pay heed, auctions, consignors and dealers: The National Auto Auction Association has an amended arbitration policy that will become effective Feb. 1 and covers a few handfuls of areas that could impact your business. The association has also made changes to its structural damage policy and has a new flood, puddle or stream policy. Both […] [Read More]

ADESA announced Monday it has promoted a new executive director of dealer relations. Ryan Warzynski, who has been with ADESA for more than a decade, has been chosen for the role.   Warzynski, most recently national sales director, in his new position will manage all of ADESA’s dealer contact centers for vehicle inventory at the […] [Read More]

Insurance Auto Auctions announced Thursday the opening of its IAA Dundalk facility in Maryland. One of five IAA locations in Maryland, the Baltimore-area facility adds to the company’s 170-plus locations in North America. "The IAA Dundalk facility will enhance the company's presence in the greater Baltimore area by providing buyers and sellers with greater convenience and access […] [Read More]

Auction sales of cars aged eight years or less hit a five-year high, and late-model auction sales climbed 12 percent. That’s according to the latest issue of Guidelines from NADA Used Car Guide released Friday. The report said there were 4.17 million auction sales of cars 8 years old or newer in 2015, which beat […] [Read More]

The wholesale market closed the year out on a slow note with market activity down and auction prices falling. According to the latest Guidelines report from NADA Used Car Guide, prices of used vehicles up to 8 years old fell by almost 2 percent in December. This decline was much larger than the 0.5-percent decline […] [Read More]

Black Book president Tom Cross has been promoted and will now lead Hearst Business Media’s transportation division. Cross will be executive vice president and deputy group head of transportation at Heart Business Media, while also retaining his position as Black Book’s president. In addition to Black Book, the company’s transportation portfolio includes Canadian Black Book […] [Read More]

The news will come as no surprise to industry veterans, but market activity in the lanes last week began to slow, as is often seen at the turn of a new year. According to the latest Black Book Market Insights report, last week brought with it continued higher depreciation for smaller cars. But after a […] [Read More]