As used-vehicle prices fell by 2.2 percent last month from June rates, according to NADA Used Car Guide data, auction volume was on the way down as well. According to NADA UCG’s latest Guidelines report, auction volume of models up to 8 years old reached nearly 310,000 units in July. This marked a 6-percent decline from […] [Read More]

Depreciation slowed marginally in July, though downward pressure proved to be a bit worse than historically seen in mid-summer. That’s according to the latest Guidelines report from NADA Used Car Guide, which reported prices of used vehicles up to 8 years in age fell by 2.2 percent last month from June rates. This hit about […] [Read More]

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]