Low gas prices and lots of winter weather compounded to bring strength to SUV prices at auction last month. According to the latest data from Black Book, the average price of a used vehicle for model years 2009-2013 dropped by an average of 1.2 percent in February, which showed no change from January depreciation. SUVs […] [Read More]

The latest action by Federal Trade Commission regarding online reviews didn’t fall within the spectrum of how a dealership performed; rather in connection with a segment of the wholesale space. The regulator said AmeriFreight, a vehicle shipment broker based in Peachtree City, Ga., has agreed to a settlement with the FTC that will halt the […] [Read More]

The last week of February — although snowy — was a positive one in the auction lanes, as both cars and trucks saw the lowest price drops experienced over the past three weeks. “This is an expected trend based on seasonality patterns that we have tracked and studied for the past decade,” said Black Book […] [Read More]

The Independent Auction Group and the International Automotive Remarketers Alliance have signed a four-year sponsorship agreement, IAG announced Monday. Under the agreement, IAG becomes the lead sponsor of the IARA’s Summer Roundtable and IARA’s website. The first IAG-sponsored event will be during the IARA Summer Roundtable scheduled for Aug. 18 and Aug. 19 at the […] [Read More]

In announcing its fiscal second-quarter and six-month results, Copart Inc. highlighted a decrease in revenue and vehicle sales, with bright spots being a spike in service revenue and inventory. Copart experienced a revenue slide of $10.2 million or 3.6 percent during their second fiscal quarter, a move the company’s management team discussed in more detail […] [Read More]

Dent Wizard International announced recently that it has promoted Jessica Stone to the position of director of sales for Mint, the company’s onsite SMART repair service program. Formerly the company’s regional business development manager for its Southeast territory, Stone will now work with the Mint team to develop additional sales opportunities and proliferate the number […] [Read More]

Manheim announced Friday that it has agreed to match the funds raised for a local man from Lancaster County, Pa. Manheim Pennsylvania plans to match up to $2,000 per week during the current five-week national Manheim promotion, called “Selling in the Zone,” to help Matt Newton, a former General Motors factory representative who currently suffers […] [Read More]

Used-car prices in February have begun responding positively to the usual tax season surge, but prices were still dropping in the lanes during the first month of the year. According to the RVI Used Vehicle Price Index, used prices dropped by 5.4 percent last month when compared to December. Used prices were up just a […] [Read More]

In the latest development to this story, ServNet announced Wednesday afternoon that it has also decided not to participate in the remarketing industry’s currently proposed Multiplatform Bidding System initiative (MPS). ServNet president Patty Stanley said in the company’s statement: “ServNet’s Board has spent countless hours over the past two years working with major industry partners attempting to […] [Read More]

Less than a day after ADESA announced that it has decided not to participate in the remarketing industry’s currently proposed multiplatform system initiative, Manheim sent a message to Auto Remarketing reiterating its position to maintain a commitment to the wholesale market project. Janet Barnard, president of Manheim North America, described MPS as an industry-wide effort that […] [Read More]