For the first time this year, the average monthly wholesale used-vehicle price fell below $10,000, as July continued a string of heavy sequential price drops that has now reached three consecutive months. That’s according to the July edition of Kontos Kommentary, where ADESA chief economist Tom Kontos attributed the continued price drops to increasing supply. “Supply growth continues to […] [Read More]

Trends shifted a bit in the lanes this past week, with a reversal of the pattern of depreciation the industry has come to expect this year. Last week, according to the latest Black Book Insights report, the car segments averaged lighter-than-normal depreciation, while trucks saw prices drop at a more rapid rate. As far as […] [Read More]

America’s Auto Auction has named a national sales director for its 12 auctions, appointing Tammy Swofford to the role. “We are pleased to announce the promotion of Tammy Swofford to national sales director,” said Jeff Bunch, chief operations officer of America’s Auto Auction.  “Tammy has worked in the auction and remarketing industry since 2005, handling […] [Read More]

Along with discussing two elements impacting the revenue stream at Insurance Auto Auctions as well as more auction locations that might become part of the company, KAR Auction Services chief executive officer Jim Hallett said the company is seeing volume growth both in the physical lanes as well as its online-only channels. What especially impressed investment […] [Read More]

Few names in the remarketing industry are as resoundingly familiar as Ricky Beggs, the recently retired editor, expert and all-around good guy who reached thousands of people through his writings and weekly video blog for Black Book, a leading provider of used-vehicle values and market research. Ricky is a good friend of mine and, now […] [Read More]

Up next in our Q&A series from the Power 300 issue of Auto Remarketing, we turn to the auction world and connect with Geoff Parker, general manager of ADESA Cincinnati-Dayton.   Auto Remarketing: What are some of the top challenges you’re seeing in the wholesale market this year, and how is your auction overcoming those […] [Read More]

Fueled by double-digit improvements year-over-year within three of its largest divisions, KAR Auction Services finished the second quarter with a 17-percent jump in net income. KAR officials said this week that their Q2 revenue came in 12 percent higher at $658.3 million, up from $585.6 million in the same quarter a year ago. For the […] [Read More]

The co-founder and general manager of one of Cox Automotive’s newest enterprises — Flexdrive — emphasized during a phone conversation with Auto Remarketing on Tuesday that ramping up its rental fleet numbers and relationship with Uber — the online transportation service provider that’s grown in popularity in some of the largest U.S. metro areas — […] [Read More]

The latest installment of our Q&A series from the recent Power 300 issue of Auto Remarketing features Anil Goyal, the vice president of automotive valuation and analytics at Black Book.  In this feature, Goyal looks at maximizing big data in the auto market and offers his take on used-car price trending, as well. Auto Remarketing: […] [Read More]

This week’s edition of Black Book Market Insights not only analyzed last week’s price movement in the lanes, but it also took into account trends seen over the past three months. And one thing is clear. It’s not hard to figure out where consumer demand is headed these days, as the smaller car segments felt […] [Read More]