Cox Automotive chief economist Tom Webb reviewed the Manheim Used Vehicle Value Index going back more than two decades to give dealers and finance companies context relating to the latest wholesale-price decline. Webb indicated wholesale vehicle prices (on a mix-, mileage- and seasonally adjusted basis) dropped for the fourth consecutive month in May, bringing the index […] [Read More]

Despite a sequential price decline of more than 2 percent, ADESA noticed dealers still had to dip into their floor plan well on average of more than $10,000 per vehicle to fill inventory needs. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, officials found that wholesale used vehicle […] [Read More]

The word on the streets in the specialty markets: expensive. Prices for collectible cars continue to soar at a surprising pace, with zeroes being added to already expensive price tags right and left. “Collectible cars continue to appreciate at an astounding pace, extending the pattern we have been seeing for the last few years,” said Eric […] [Read More]

ADESA announced on Wednesday its plans to rename two of its auctions in the Pittsburgh area. With its recent acquisition of Pittsburgh Auto Auction, ADESA now has three auctions in the area, also including ADESA Pittsburgh in Mercer, Pa., and ADESA PA in York, Pa. Because the newly acquired Pittsburgh AA is located closer to the […] [Read More]

Though pickups have been strong when it comes to price retention most of the spring, another segment joined them this past week: the premium sporty cars. According to the latest Black Book Market Insights report, premium sporty cars began picking up in price this past week at auction, a trend which is expected during the […] [Read More]

KAR Auction Services announced Monday it has purchased Autoniq and MobileTrac, which is doing business as instaVIN. The purchase expands the company’s Digital Services Group, KAR said in a news release. “Dealers in-lane and online require real-time access to relevant vehicle information to make split-second decisions when buying and selling inventory,” said KAR Digital Services […] [Read More]

Registration is now open for the 2015 International Automotive Remarketers Alliance Summer Remarketing Roundtable, which is being held August 17-20 at the Hilton Fort Worth in Fort Worth, Texas.  Registration can be completed here. The program for the IARA Summer Roundtable is also available online. Among the highlights: — Two roundtable sessions, which will repeat. — […] [Read More]

For most auctions, no-sales mean less money, and the numbers of units not selling as they cross the auction block tends to grow as we approach the summer months. That said, Manheim is now offering what they call a “second chance” for these vehicles. The company announced the nationwide rollout of 2nd Chance Sale, a […] [Read More]

Copart reported its financial results for its fiscal third quarter ending April 30 on Wednesday, highlighting the impact of how the strengthening U.S. dollar and lower scrap values affected its year-over-year results. The company experienced a year-over-year decrease in revenue and gross margin along with a substantial increase in net income for the quarter. Third quarter […] [Read More]

Whether we like it or not, those in the automotive industry now live in the age of recalls. It’s a lingering thought in the minds of individuals on every end of the sales spectrum. And while recalls of any nature are anything but simple to manage on the front end, the waters tend to get […] [Read More]