Auction volume was up more than 8 percent year-over-year in June, and year-to-date figures continued to hold strong, according to the latest Economic Dashboard from the National Auto Auction Association. Specifically, the tally for the month of June climbed 8.3 percent against comparable weeks of 2014. Auction volume for the first half of the year was up 7.3 […] [Read More]

Ever wonder why we keep changing our industry arbitration rules? Every few years, we need to tweak them; some to make the issues less granular and some to make them more granular. I bet we can guess how the winds are blowing and from which direction with this latest round of changes. The interesting part […] [Read More]

If you’re having trouble finding a low-mileage unit in the off-rental lanes, don’t be alarmed. Manheim discovered the average mileage for these units reached a new high earlier this year, surpassing 50,000 miles for the first time. That amount is more than double the low points Manheim spotted. The industry saw average of about 25,000 […] [Read More]

In updating a move the company first discussed this past Tuesday, Copart announced the final results of its modified “Dutch Auction” tender offer three days later. Based on the final count by the depositary for the tender offer, Copart accepted for payment an aggregate of 6,254,061 shares of its common stock at a purchase price […] [Read More]

Though prices in the lanes still remained higher than the first days of summer last year, used-vehicle rates still experienced a significant downturn in June. According to the June edition of Kontos Kommentary, wholesale prices were down 2.5 percent from May, but up 2.4 percent year-over-year.  ADESA chief economist Tom Kontos reported the average price for […] [Read More]

Auto Remarketing has learned that General Motors and GM Financial are consolidating their remarketing organizations in the U.S. under the GM Financial brand. GM Financial sent an overview of the consolidation to Auto Remarketing on Wednesday, in which it explained the alignment in great detail. GM Financial will continue to sell vehicles at Manheim, ADESA and independent […] [Read More]

Manheim New York was one of 18 organizations recognized by the Light Energy Efficiency in Parking (LEEP) Campaign for its efficient lighting. The Manheim location was awarded the “Highest Absolute Annual Savings in a Retrofit at a Single Parking Area” award. The location honored replaced its medium and high-wattage metal halide fixtures with LED fixtures, […] [Read More]

In June depreciation for cars was significantly higher than for trucks and larger vehicles. But during the first week of July, some of the larger models began to experience more downward pressure on auction prices. According to the latest Black Book Market Insights report, the Fourth of July holiday week brought with it large declines […] [Read More]

After mentioning the latest movement of the Manheim Used Vehicle Value Index during his quarterly conference call on Wednesday, Cox Automotive chief economist Tom Webb touched on a topic that triggers the greatest volume of questions he receives — wholesale price projections. While Webb didn’t offer any specific figures, he did share some guidance in […] [Read More]

The TPC Management Co.’s continuing education program for auction professionals, Auction Academy, has hosted two successful classes in the first half of the year and has two more scheduled in the next two months. The program, designed to enhance essential skills sets, promote best practices and yield better auction performance, will host a session for “Class […] [Read More]