Capital Automotive Reconditioning Services announced the appointment of a new chief operating officer. Kay Hudson, formerly the senior vice president of operations, took the role of COO effective Sept. 1 after more than five years with the company, which she joined in 2008 as the human resources director. Ron Hope, CARS Recon’s president and chief executive […] [Read More]

Prices continued dropping at the auction this August, and overarching trends remained unchanged: the groups with the biggest declines in the lanes are still the luxury and fuel-efficient segments.  And these trends are causing many analysts to take another look at where prices will stand in the lanes come year-end. “Despite our projection that 2014 will end the […] [Read More]

Cox Automotive is going national with its DealShield Purchase Guarantee product that lets wholesale buyers return a vehicle for any reason and receive a complete refund of purchase price and buyer’s fee. Through DealShield, the car can be brought back for up to 21 days and 500 miles from the time of purchase, depending on […] [Read More]

Auction volume was up nearly 5 percent in August, according to the National Auto Auction Association, continuing what’s been a solid 2014 so far and likely the third straight year of increased volumes — with more growth on the horizon. The association’s latest Economic Dashboard — prepared by NAAA economist Ira Silver — indicated that […] [Read More]

Along with giving an update on how many dealers are using its mobile apps, Manheim highlighted the benefits from the investment in its new Enhanced Vehicle Imaging Suite, which is aimed at helping customers who have struggled to find vehicle condition reports with consistent imaging quality. Manheim introduced the Enhanced Vehicle Imaging Suite to customers […] [Read More]

Lynnway Auto Auction named a new vice president of national account sales, and appointed to that position is a former leader at ARI and State Line Auto Auction, Jeff Bennett. “It is with great pleasure that we welcome Jeff Bennett to Lynnway Auto Auction,” said company president James Lamb.  “His many years of experience in the […] [Read More]

ADESA named a new vice president of finance operations and general manager of the ADESA business offices in Mesa, Ariz. Amy Carlson, with 16 years of business experience in finance and operations and five years of experience at ADESA’s Mesa office, takes on the new role effective immediately. She reports to Paul Lips, the executive vice president of operations and finance […] [Read More]

Analysis from Black Book and Manheim for how the wholesale market behaved in August showed somewhat similar conclusions even though the exact figures each company shared differed slightly. As the Manheim Used Vehicle Value Index retreated for the fourth month in a row, Black Book data showed the average price of a used vehicle for […] [Read More]

Only 11 percent of the wholesale value adjustments last week were increases, according to Black Book, which indicated that this ratio has not been this small in nearly 11 months. After recapping in-the-auction-lane comments from editors in his weekly video report, Black Book editorial director Ricky Beggs said: “The resulting analytical efforts and actual value […] [Read More]

Hertz Global Holdings chairman and chief executive officer Mark Frissora has resigned from his position for personal reasons, the company said in a statement Monday morning.    Appointed by the company’s board of directors to serve as interim CEO is Brian MacDonald, the president and CEO of Hertz Equipment Rental Corp. Appointed as independent non-executive […] [Read More]