Canadian auto tech company Selectbidder, best known for its auction-centric dealer trade networking platform, has been busy lately with the signing of three new auction locations on the Eastern Seaboard. Selectbidder signed Bloomsburg Auto Auction in Bloomsburg, Pa., a couple weeks ago, and penned an agreement with Acadia Auto Auctions on Tuesday. The latter has two […] [Read More]

Three years ago, I was getting ready to go to my first Used Car Week, which was taking place, coincidentally, at The Phoenician. Jonathan Fredin, our chief photographer here at Cherokee Media Group, told to me expect lots of food throughout the five-day conference series. This, of course, was music to my ears. (And, by […] [Read More]

After strong used pickup prices contributed to wholesale prices rising in the lanes in October, the tides quickly turned this month as seasonality is taking its toll. During the first week of November, truck prices took the biggest hit seen this year — and last week, prices took another hefty plunge. According to the latest […] [Read More]

KAR Auction Services chairman and chief executive officer Jim Hallett reiterated that it’s unlikely the company will close any more acquisitions before the end of the year even though he described the activity pipeline as “active.” Hallett expanded on the point during the company’s latest quarterly conference call by stating, “I can tell you that […] [Read More]

Amid a strong certified pre-owned and overall used-vehicle sales market, wholesale prices continued to climb in October, driven in part by strong pickup residuals. According to ADESA Analytical Services’ monthly analysis of wholesale vehicle prices by model class, auction prices were up 1.1 percent compared to September and 0.6 percent year-over-year. Vehicles at auction sold for […] [Read More]

Really, anywhere that Howard Segal has gone, there have been cars. His job as a youth at the gas station, pumping fuel at age 13. Following the footsteps of his older brother, the southern New Jersey native then became a mechanic in his late teens. That eventually led to the dealership world, auto finance and […] [Read More]

To borrow from “Sesame Street,” one of these things is not like the others. Surrounded by mostly trucks and larger vehicles, the model at the top of the heap of auction price strength in the third quarter was the Nissan LEAF, according to Kelley Blue Book. Its latest Blue Book Market Report indicates that KBB […] [Read More]

Wholesale prices were on the way up last month, and that marks the fifth month in a row auction prices have spiked. This increase brought the Manheim Used Vehicle Value Index up to 125.3, which is exactly where it started 2015, and up 2.9 percent from October of 2014, on a mix-, mileage- and seasonally adjusted […] [Read More]

Auction values dropped to a two-year low in the third quarter, but there were a few brands and segments bucking the trend and holding on their values well. Kelley Blue Book took a look at one brand, in particular, in its latest Blue Book Market Report — Subaru. For price retention, some Subaru models are tops […] [Read More]

As used supply expands, wholesale prices continue to slide. In fact, rates in the lanes hit a two-year low in the third quarter. That’s according to Kelley Blue Book’s Q3 Blue Book Market Report, which showed auction values for 1- to 3-year-old vehicles fell by an average of $850 or 4.3 percent in the third […] [Read More]