Comments thrown back and forth in the lanes last week didn’t illustrate the market the industry is used to seeing in mid-October. Instead of no sales and tough sales, the Black Book editorial staff were bringing back reports of a “steady, “good” and “solid market.” Black Book editorial director Ricky Beggs broke down last week’s […] [Read More]

In addition to providing details on its new location opening this month, CarMax Auctions unveiled a new logo and announced plans to thank its wholesale customers during its Customer Appreciation Month. CarMax Auctions will be hosting catered meals and giveaways to dealers throughout the month of October. The company has over 60 auction locations, with its newest facility […] [Read More]

Whether you’re working the auction block or trying to buy what’s on it, one thing is the same: time is money. The process, on average, lasts just 37 seconds. For dealers, the quality of every second spent on auction day generally makes the difference between a profit and a loss, taking advantage of a gainful […] [Read More]

Along with giving some hints as to where the Manheim Used Vehicle Value Index might be trending — as well as what this year’s record amount of recalls did to the remarketing of rental risk units — chief economist Tom Webb explained why new-vehicle leasing is going to have a greater impact than the market might […] [Read More]

September marked the largest price decline for used vehicles all year, following seasonal trends most in the industry expect when the weather starts to cool. According to Black Book data, the average price of a used vehicle for model years 2009-2013 saw the largest monthly depreciation of 2014, falling by 1.7 percent last month. Interestingly, August […] [Read More]

Manheim chief economist Tom Webb determined wholesale used vehicle values declined by a little more than 2 percent in the third quarter, stating the market showed signs of returning to more normal levels after historically high prices earlier in the year. As a result, the Manheim Used Vehicle Value Index — a measure of wholesale […] [Read More]

Consistency was the word in the lanes last week — especially for the car segments. Black Book’s Ricky Beggs reported the car segments’ prices fell by an average of $71 last week, which is slightly lower than the previous week’s drop of $84. In his latest “Beggs on the Used Car Market” report, the Black […] [Read More]

Auto logistics services provider MetroGistics announced today that it has formed strategic partnerships with Precision Motor Transport Group and McNutt Automotive Logistics. The company said in its announcement that the combined entities will provide a full range of logistics and asset-based transportation solutions to the full spectrum of customer segments. That includes automakers, the used-car […] [Read More]

Pedal cars may be primarily for kids, but you wouldn’t have known it at the National Auto Auction Association’s recent Convention and Expo in Boston. The Black Book Pedal Car Auction garnered some very “adult-sized” donations, raising more than a half-million dollars to benefit the nonprofit NAAA Warren Young, Sr. Scholastic Foundation Inc. Amazingly, the […] [Read More]

Enterprise Holdings announced Wednesday its annual Auction Achievement Award winners, honoring nine auctions in the U.S. “Our relationships with local auction partners are a critical part of our auto remarketing strategy, and each year we look to recognize some of those partners who excel at what they do,” said Nate Lattimer, vice president for vehicle […] [Read More]