ServNet has added a new member, expanding its reach into Illinois. The latest to join the independent auction group is Greater Rockford Auto Auction, which is now in its third generation of ownership by the Clark family that founded it.   ServNet president Patty Stanley announced the addition at the recent ServNet Owners meeting in […] [Read More]

According to ADESA data, auction prices were up slightly in April. However, analysts say there is more to the story. In the latest edition of Kontos Kommentary, executive vice president of ADESA Analytical Services Tom Kontos said the bump in auction prices — a 0.07-percent increase from March — is due in part to the type of […] [Read More]

Hertz Global Holdings plans to cut down on its purchases of new model-year 2015 units this year, while also selling more units out of its existing pool of cars. The company, sharing these plans in a recap of its first quarter operating results released last week, said these steps are part of its effort to […] [Read More]

Recently, someone asked me why our seller revenue streams seem to be going down on a RPU (revenue per unit) to RPU basis, year-to-year, not even factoring in normal inflationary factors. My knee-jerk reaction was to say that we had benefited from hardware and software enhancements, which have increased productivity and thus lowered costs; as opposed […] [Read More]

The Southeastern Auto Auction of Savannah hosted its annual “Masters Sale” and golf tournament earlier this month, feeding on the hype for The Masters Tournament and raising funds for the Shriners Hospital for Children. On May 6, the sale featured a free breakfast, free golf visors and over 900 vehicles; the sale concluded with over a […] [Read More]

The 2014 model-year crop of vehicles still dominates the volume at auction, according to NADA Used Car Guide, but here’s the catch. Volume for this class actually decreased month-over-month in April, and future declines could be in store, the latest Guidelines report indicated. “If last year's auction results for the 2013 model-year are any indication, […] [Read More]

As tax season came to an end, prices in the lanes began falling in April. According to NADA data, auction prices declined by 1.4 percent last month, causing its Used Vehicle Price Index to fall to 124.3, down from March’s level of 124.5 And per seasonal norms, that pace of decline is expected to pick […] [Read More]

Used-vehicle sales for National Auto Auction Association member auctions totaled 8.7 million units in 2014, a sum worth $81.8 billion. The results, which came from the association’s 18th annual survey, also found the number of vehicles that entered its member auctions rose by 3.6 percent to 15.7 million units, and the number of units sold increased by 6.2 […] [Read More]

Many in the industry may have wondered why prices in the collectible car market have been soaring as of late. In fact, according to Black Book data, exotic vehicles appreciated by 38.3 percent year-over-year in April. For those wondering, Black Book analysts are attributing part of this steep price increase to what they are coining, the […] [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 Levi McCoy,  who is the director of remarketing at LeasePlan […] [Read More]