Wholesale value declines last week continued to be strong, as seasonality takes its toll on the lanes. According to the latest Black Book Market Insights report, wholesale prices for cars fell by 0.72 percent or $78 last week, while the trucks took an average hit of 0.44 percent or $68. These are much higher declines than […] [Read More]

Manheim announced Tuesday it has chosen a vice president of product management to help deliver a better experience for its clients. Promoted to the role is Stephen Smith, who will now help guide the development of strategic products services. “Stephen’s wholesale and retail marketing expertise, coupled with his knowledge of understanding the challenges clients face […] [Read More]

Consolidated Asset Recovery Systems’ fourth appearance on the Triangle Business Journal’s annual Fast 50 list is also its first time coming in at No. 1, representing the top of the top of the fastest-growing private companies in the Raleigh-Durham area. The company was founded by two software supply chain experts, Steven Norwood and Terry Groves, […] [Read More]

Wholesale prices were on the way down last month due in part to a lessening in demand, but according to Black Book data, depreciation varied widely based on vehicle size. Black Book reported the average price of used vehicles for model years 2010-2014 declined by 2.6 percent last month, which was up significantly from the […] [Read More]

Dealer’s Auto Auction of Huntsville brought its year-to-date tally of charitable donations over $80,000 following its recent donation to the Make-A-Wish Foundation that was announced on Thursday. During a fundraising sale benefiting Make-A-Wish supported by local dignitaries and civic leaders along with dealers, the event raked in $32,775 in donations. “For the past several years, […] [Read More]

Auction volume continued on an upward trajectory last month, following a trend the industry has been watching for most of the year. According to the latest Guidelines report from NADA Used Car Guide, auction volume of vehicles up to 8 years old jumped up by 4 percent over the four-week period ending Oct. 26. This increase […] [Read More]

Auction Academy is expanding its Seminar Series for 2016, and will now include four individual sessions throughout the year. The inaugural session was held in the Chicago area in late July and focused on the role of digital managers at auction. “We felt there was a need in the industry for a shorter-term training program […] [Read More]

After dropping by 3.5 percent in September, October used-vehicle prices held up a bit better, but depreciation has picked up again this month. According to the latest Guidelines report from NADA Used Car Guide, used-vehicle prices fell by 2.8 percent in October. Jonathan Banks, executive automotive analyst at NADA Used Car Guide, pointed out this […] [Read More]

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]