Prices were on the way down at the auctions in May — by 0.6 percent month-over-month, according to RVI — but one segment, in particular took a much bigger hit. According to RVI’s 2015 Q2 Risk Outlook Report, compact car prices suffered in the lanes in May, dropping by 9.6 percent year-over-year, while the market […] [Read More]

It took just 35 days for J.D. Power to complete its acquisition of NADA Used Car Guide. Officials highlighted on Wednesday the acquisition first announced on May 28 culminates an investment to bring together the advanced analytics of new- and used-vehicle retail sales and pricing data within the Power Information Network (PIN) from J.D. Power […] [Read More]

Fleet management provider LeasePlan USA recently announced is expansion plans, including the addition of several employees in departments across the company. Its two newest sales professionals include Lisa Carter and Roston Willis. Carter joins the company as vice president of client relations, regional accounts while Willis takes on the role of vice president of sales, […] [Read More]

With the exception or the premium sporty cars, which traditionally see a boost in price closer to the summer months, all car segments are seeing historically expected price declines in the lanes. That said, according to the latest Black Book Market Insights report, trucks continue to “defy” seasonal patterns, holding strong retention at auction. Overall, […] [Read More]

Auction Broadcasting Co. announced the purchase of its eighth auction facility on Friday. Broadening its presence in the Southeast that already includes auctions in Louisiana, Alabama and Kentucky, ABC Auto Auctions bought Tidewater Auto Auction in Virginia Beach, Va. In a message to Auto Remarketing, ABC president Jason Hockett indicated the name of this new […] [Read More]

Sporty cars and trucks were the only segments to withstand stronger downward pressure on wholesale prices at auctions. These two groups remained ahead for price retention, while most other car values experienced steeper declines. In fact, car prices fell by 0.76 percent or $94, which is the largest decline seen in 52 weeks, according to Black […] [Read More]

Enterprise Holdings plans to expand its offerings via two acquisitions it announced today. Operating primarily in the Brooklyn borough of New York, AllCar Rent-a-Car and the car-sharing service Carpingo, brands formerly owned by Citiwide Auto Leasing Inc., will be added to the Enterprise portfolio. Gil Cygler, Citiwide’s president, says he was drawn by Enterprise’s similar […] [Read More]

Though pickup prices have begun to weaken a bit as summer approaches, cars are still seeing prices dip at a much faster rate. Part of this trend is due to increasing inventory, which is allowing dealers to be choosier about the units they buy for their lots. “As buyers remain picky about units, car segments […] [Read More]

In an effort to ramp up its business outside of North America, KAR Auction Services announced this week that its subsidiary ADESA (UK) Limited acquired HBC Vehicle Services. Headquartered in Canvey Island, England, HBC specializes in salvage vehicle auctions and related services. “This acquisition is the start of our expansion into new global markets, and […] [Read More]

The ServNet Auction group recently highlighted the wave of summer-season sales its independent auctions plan to host in the coming months. “The summer promotions at ServNet are trend-setting events, and for years have defined the season,” said Patty Stanley, the group’s president. “They bring customers together from all parts of the country for good times […] [Read More]