Prices fell by two percent in the lanes last month, with some segments seeing rates drop by over 4 percent from 2013 levels. And back in September, used-vehicle prices, after adjusting for MSRP, fell by 0.6 percent from August and 2.7 percent year-over-year, according to the latest RVI Risk Outlook report. What factors are contributing […] [Read More]

Though gas prices have fallen under $3, there has been no major reaction in the lanes due to the rapid decline. According to the Black Book editorial director’s latest “Beggs on the Used Car Market” video report, the average price of gas has now fallen to $2.99, down 6 cents from the past week and […] [Read More]

October didn’t disappoint as a month that historically brings about some pretty dramatic price drops in the lanes. Overall, the average price of a used vehicle for model years 2009 through 2013 saw the largest wholesale price drops this year with a 2-percent decline. And according to Black Book data, this past month, two car […] [Read More]

With dealers shifting to “acquisition mode” in October, wholesale prices ended a five-month streak of declines, according to analysis in the Manheim Used Vehicle Value Index released Friday morning. The report indicates that wholesale values (on a mix-, mileage- and seasonally adjusted basis) climbed last month, following five consecutive months of downward movement. The Manheim […] [Read More]

ADESA released this week the changes to its auction management teams at locations in Phoenix and Atlanta. Ryan Edwards, formerly ADESA Atlanta’s general manager, takes on the position of GM of ADESA Phoenix; Mark Brunn will fill Edwards’ previous position in Atlanta. “Ryan has been dedicated to making ADESA Atlanta an award-winning auction during the […] [Read More]

Multiplatform buying and selling will be a major focus during multiple sessions at Used Car Week, which gets rolling Monday. And on Thursday, the International Automotive Remarketers Alliance released an open letter on cross bidding multiplatform sales. The National Remarketing Conference — the flagship event of Used Car Week — will feature  a general session on […] [Read More]

Manheim has announced early this week the appointment of a new general manager for Manheim Detroit. Named to the position is Mandy Savage, formerly the assistant general manager at Manheim Palm Beach. In her new role, she is now responsible for leading auction activities, improving customer service and driving business efficiencies while reporting to Randy Beil, Manheim’s […] [Read More]

KAR Auction Services generated significant year-over-year increases in revenue, adjusted EBITDA and net income, according to the company’s financial statement released late on Tuesday. For the period ending Sept. 30, KAR’s quarterly revenue came in at $589.1 million, up from the $533.7 million that the company produced in the third quarter of last year. The […] [Read More]

The National Auto Auction Association is asking members to weigh in on potential NAAA Arbitration Policy changes via an online survey. The Auction Standards Committee is requesting all members review and comment on proposed changes. The NAAA has posted the survey on the naaa.com website and will also be sending the survey link by email to […] [Read More]

Management from a new wholesale location taking shape in Tennessee highlighted the progress being made to get Music City Auto Auction up and running. Music City AA general manager Tim Sherk indicated that the construction of a facility consisting of 30,000 square feet at 3639 Royal Park Blvd, in Spring Hill, Tenn., is on track […] [Read More]