It’s not just the supply boost that slowed wholesale vehicle values in May.   Some of the decline, says ADESA chief economist Tom Kontos, was driven by flat used-car retail sales and a dip in certified pre-owned sales (albeit year-to-date CPO sales are still up and at a record pace). “This limited the demand side support for wholesale values, which […] [Read More]

In addition to announcing that dealers can now register for its sales online, CarMax Auctions recently shared plans to add five locations in fiscal-year 2017, including one this summer that will be its first in the San Francisco Bay area.   The five new locations include: Pleasanton, Calif.  (Set to begin this summer) El Paso, […] [Read More]

As wholesale prices for compact vehicles continued to soften, Black Book representatives in the lanes last week noticed a significant amount of dealers sat on their floor-plan wallets stemming from the frequency of units that rolled over the block without the hammer finalizing a sale. According to the latest Black Book Market Insights report, the […] [Read More]

Sales of off-rental heavy 2015 model-year vehicles at auction have finally surpassed sales of 2014 vehicles on a like-age basis, according to NADA Used Car Guide’s Guidelines report for May. While sales of mostly off-rental 2015s trended downward over the past two months, the nearly 136,500 sold at auction in April and May was 12 […] [Read More]

NADA Used Car Guide’s seasonally adjusted used-vehicle price index rose by 0.7 percent to 119.1 — the first increase since November. And while wholesale depreciation sped up in May as prices of used vehicles fell by 2 percent compared to April, May’s performance was better than expected and was an improvement over the 2.7 percent […] [Read More]

BMW Group Financial Services has teamed with Cox Automotive on a remarketing solution that allows all dealers to source BMW and MINI vehicles before they cross the auction block. Powered by RMS Automotive’s web-based vehicle portfolio management solution, BMWGroupDirect.com is now accessible to independent and non-BMW franchised dealers — not just BMW franchised dealers. The site […] [Read More]

Global online vehicle auction company Copart has acquired a location in Candia, N.H. "If you look at Copart's recent expansions and acquisitions, it's clear that we are experiencing significant growth," Copart's chief executive officer Jay Adair said in a news release. "Candia is a great location that will allow us to better serve Manchester and surrounding […] [Read More]

Wholesale vehicle prices climbed sequentially for the second straight month and posted a year-over-year gain for the first time in 2016. But don’t take that to mean those supply-driven expectations for downward sloping used prices are suddenly over, Tom Webb warns in commentary accompanying the latest Manheim Used Vehicle Value Index. “They do suggest, however, […] [Read More]

Quest Resource Holding Corp. has announced what it believes to be a safe, sustainable, turnkey solution to destroy millions of recalled Takata airbags. The company’s airbag recycling program, which is being offered to more than 12,000 dealership and automotive aftermarket client locations, is designed with two goals: to prevent recalled items from being sold in […] [Read More]

Wholesale price trends are starting to settle into a pattern Black Book is expecting. At least that’s the view of Anil Goyal, senior vice president of automotive valuation and analytics, when this week’s Black Book Market Insights report took a look at valuation activity from the first week of June. “Weekly depreciation rates are beginning […] [Read More]