After forming America’s Auto Auction 10 years ago and leading its growth to the 12-member group it is today, Richard Gundy retired from the business in late March. Taking on the role of chief executive officer is Ben Lange, who adds the CEO title to his existing duties as president of the company. Meanwhile, former MAFS, […] [Read More]

Tax season buying and selling activity is still in “high gear” with April 15 quickly approaching. That’s according to the latest Black Book Market Insights report, which showed strong price retention in the lanes last week for both cars and trucks. On average, the car segments saw a $6 (or 0.5-percent) increase in prices, while […] [Read More]

Manheim is currently hosting a national promotion, titled “Pump Up Your Volume,” that is aimed at aiding dealers in their inventory building efforts to prepare for the impending selling season.  The national promotion, expected to drive traffic at all of Manheim’s 79 wholesale auctions, will include offers from DealShield and Ready Auto Transport via a […] [Read More]

All of that profit dealers are generating with record-setting certified pre-owned metal and other used vehicles are keeping wholesale prices at slightly higher levels than a year ago. Although wholesale prices fell in the final two months of this year’s first quarter, Manheim determined that the average level for Q1 came in 1.6 percent higher than […] [Read More]

For the most part, used electric-vehicle prices continue to be very soft, a trend that has remained pretty steady over the past couple of years and has been compounded as of late due to low gas prices. And with many of the newer model-year EVs, such as the 2014 Chevy Volt, set to hit the […] [Read More]

Spring trends in the lanes haven’t played out quite like they normally do, according to Black Book, and depreciation patterns in March continued to show differences when compared to 2014 as demand for larger vehicles dominated tax season. According to Black Book, wholesale prices for model years 2009-2013 fell by an average of 0.7 percent […] [Read More]

Auto Remarketing has launched a new series this year called “Consignor Connection,” in which we catch up with a leading remarketing executive at a different consignor each month. In a Q&A format, we talk about best practices, auction industry trends and more. The latest in this series features Dan Kennedy, manager of GM Remarketing: Auto Remarketing: […] [Read More]

Dent Wizard International announced Thursday the introduction of Ready Line Express, a vehicle reconditioning program designed for rental companies.                             Ready Line Express consolidates paintless dent removal, minor paint, bumper repair, wheel repair and interior repair into its program, which focuses on fast, quality […] [Read More]

CarMax’s in-house auction arm, whose fiscal year ended Feb. 28, recently accomplished something it had never done before — it exceeded $1,000 in profit, per wholesale vehicle, in its fourth quarter. To be exact, the wholesale vehicle gross profit for the quarter was $1,036, a roughly 9-percent year-over-year increase. When asked what fueled that kind […] [Read More]

This week’s Used Car Market Insights report from Black Book once again focused on how spring in the used-car business is panning out a bit differently from years past. Throughout tax season this year, Black Book has noticed stronger-than-average retention in the entry midsize car and the upper midsize car segments as well as the […] [Read More]