The first month of 2015 is in the books, and Black Book editorial director Ricky Beggs shared his reactions to last week’s vehicle price movements in the latest “Beggs on the Used Car Market” video report.  Though pointing out that fuel prices continued to fall — by 2 cents and 7 cents for gas and diesel, respectively […] [Read More]

Insurance Auto Auctions made its third growth move in the past two months; this time expanding its services at a pair of Ohio facilities. To respond to the demands of the winter season, IAA expanded its Buckeye State branches in Columbus and Cleveland. The Cleveland branch, located on 7437 Deer Trail Lane in Lorain, Ohio, has […] [Read More]

Perhaps spending more than 30 minutes talking about how potential losses in new-vehicle lease business were going to hurt the company’s performance provided the kindling that was lit when an investment analyst asked Ally Financial chief executive officer Michael Carpenter if he would sell off SmartAuction to General Motors or another potential buyer of the […] [Read More]

KAR Auction Services announced Wednesday that Rich Levene has been promoted to vice president of enterprise optimization for the company. Formerly the director of the same KAR segment, Levene is responsible for “identifying and implementing opportunities to maximize resources and widen synergies across all of KAR’s business units, as well as leading the enterprise optimization […] [Read More]

There are likely to be hefty volumes of off-lease cars pouring into wholesale markets this year, and a new program announced Tuesday by ADESA is designed to foster greater confidence among dealers when they buy these cars online. ADESA Assurance is a buyer protection program that gives buying dealers a no-questions-asked return guarantee on selected […] [Read More]

As Black Book personnel visited and watched over 70 auctions last week, market insight reflected the approaching tax season as Black Book editorial director Ricky Beggs reported prices are strong, and of course, “the tax season favorites are getting sold.” As many dealers are tracking, the IRS began accepting tax returns on Jan. 20 — and […] [Read More]

Manheim Riverside plans on closing out the month of January with a bang via its One Hundred Grander Sale on Wednesday. Beginning at 3 p.m. PST, lanes one and two will feature more than 100 vehicles listing for $100,000 or more. The sale will include vehicles from several luxury brands, including Aston Martin, Bentley, Ferrari, […] [Read More]

Michigan’s own Flint Auto Auction will host its inaugural sale featuring vehicles from Chrysler Capital and Santander Consumer USA on Feb. 11. The sale, which the auction expects will include 100 units, will run vehicles for the account every other week. “We are delighted to welcome Chrysler Capital/Santander Consumer USA to Flint Auto Auction,” said […] [Read More]

News flowed out of Cox Automotive and the companies under its umbrella at the NADA Convention and Expo this past week. The announcements included a new training program for wholesale vehicle buyers as well as the revealing of this year’s recipient of the Barbara Cox Automotive Woman Of The Year Award, among other news. The […] [Read More]

Manheim released its 2015 Used Car Market Report at the NADA Convention on Friday, highlighting a positive outlook for the used vehicle market heading into the new year. The company pointed out several key topics for 2014, including growth in wholesale volumes, new and used vehicles, and stability in wholesale pricing. Tom Webb, the chief […] [Read More]