Last month showed some price softening in off-rental wholesale cars, according to the latest Manheim Used Vehicle Value Index analysis, which said that not since 2013 has the straight average of rental-risk auction prices been this low in February. Even with rental-risk units having 11.5 percent less mileage on them, prices still fell 4.1 percent […] [Read More]

Want to know the best bargain in the automotive industry today? It’s the average selling fee for consignors at wholesale auto auctions in the U.S. Let's have some fun and look at a typical fee of, say, $100 — and I am being generous, as we all know, when chain auctions are offering less than […] [Read More]

Manheim has announced its new general manager of Manheim Pennsylvania. Serving in his 15th year with Manheim and taking the reins as GM of Manheim’s home auction location is Joey Hughes. In the new role, Hughes will be responsible for all aspects of the auction’s operations, over both its internal workforce of 1,600 full- and part-time […] [Read More]

February represented the steepest drop in wholesale prices (on a mix-, mileage- and seasonally adjusted basis) in over three years, according to comments accompanying the latest Manheim Used Vehicle Value Index published on Monday. The index’s reading for February was 123.3, down 1.4 percent year-over-year.  Of the six vehicle segments included in the report, five showed […] [Read More]

Buyers and dealers — no need to take out your smartphone to check run lists. Why don’t you just check your watch? ADESA said Friday it has launched its Marketplace app for the Apple Watch. “Car dealers are leveraging technology in new and exciting ways, and this Apple Watch app allows them to monitor their auction […] [Read More]

In a trio of moves first reported by Cliff Banks of The Banks Report and later confirmed by Auto Remarketing, Cox Automotive has created a chief operating officer position and has named Mark O’Neil to the position. In addition to announcing the COO move, Cox Automotive said Thursday that Keith Jezek will become president of […] [Read More]

John Brasher was only 14 when his grandfather and family business patriarch — who shared his first name, but went by Frank — passed away in 1986. But his grandfather’s reputation in the business provided more than a wealth of stories for John Brasher, who shared a few of these with Auto Remarketing last month, […] [Read More]

Though depreciation had slowed a bit at the start of the year, wholesale depreciation is now continuing at a steady pace, and the industry isn’t seeing much of the usual tax season strength. This is true especially for some of the smaller car segments, which are seeing significant price drops. According to the latest Black […] [Read More]

Insurance Auto Auctions recently announced the grand opening of its IAA Louisville North location in Eminence, Ky. The new location officially opened on Feb. 22, featuring a ribbon cutting ceremony and selling more than 150 vehicles, including a 2013 Rolls-Royce Ghost that sold for $93,000. “The IAA Louisville North facility will expand the company’s presence […] [Read More]

LeasePlan USA recently announced the hiring of a new region sales vice president of national accounts. Bringing over 15 years of fleet industry experience to the position is Melissa Cook, who most recently served as the district sales manager for Supreme Corporation. In the new position, Cook will be serving the Northwest and Midwest regions, […] [Read More]