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]

Manheim announced today during the NADA Convention and Expo in San Francisco it has created a new wholesale-to-retail vehicle solution for dealers, as well as revealing a new partnership with Hendrick Automotive Group to create a multi-lane auction operation in North Carolina. The new wholesale-to-retail vehicle solution, which the company said was created with dealer […] [Read More]

The ServNet Auction Group announced the recent expansion of its family of auctions with its 32nd auction location, Brasher’s Fresno Auto Auction. The California location was recently purchased by the Brasher family and hosted its first Brasher’s sale on Friday, Jan. 16. “It is with great pleasure that we welcome the newest member of the […] [Read More]

Auction giant ADESA recently announced that it has named a new senior vice president of strategic initiatives. John Hoctor has been chosen for the new SVP role. In this new role, Hoctor will be responsible for overseeing the company’s online dealer-to-dealer efforts, including both Dealer Connect and TradeRev in the United States, with a focus […] [Read More]

KAR Auction Services announced Wednesday morning that chief executive officer Jim Hallett has been named chairman of the board of directors. Making the announcement was Ryan Birtwell, who is the chair of the Nominating and Corporate Governance Committee at KAR. “Jim was a natural fit for this role, given his extensive industry experience and professional […] [Read More]