As analysts predict that expanding off-lease volume will start pushing downward on used-car prices at a more rapid pace in the second half of the year, auction prices are expected to continue falling this week. According to NADA AuctionNet data, wholesale prices are expected to drop by an average of 0.5 percent or $75. David […] [Read More]

Copart has invited the general public to vote on the finalists of its first Copart Rebuild Challenge. The contest, which gathered video entries of various vehicle rebuilds from April 14 through July 6, has been narrowed down to 10 finalists. The three with the most votes by July 25 will receive one of three prizes: […] [Read More]

Analysts are predicting a larger flow of off-lease vehicles in the second half of the year to push down auction prices, but in June and for the whole first half of 2014, wholesale prices remained strong. According to the latest NADA Guidelines report, consumer demand for used and new cars was high last month, leaving […] [Read More]

Ready Auto Transport has announced it will be one of the lead sponsors for the Ride 430 Challenge. The fundraising occasion is a four-day, 430-mile biking event aimed at raising money for injured military personnel and their families. The challenge, which had its first iteration in 2008, has raised more than $1.8 million for military […] [Read More]

There is the expectation out there that off-lease volume is set to spike in the second half of the year, and Tom Kontos echoes that sentiment. In an interview with Black Book editorial director Ricky Beggs, Kontos — the chief economist at ADESA — talked on key aspects of the wholesale industry such as retail […] [Read More]

The National Auto Auction Association will hold its next round of Auction Standards Training about one month from now, as it will offer a course on vehicle grading (AutoGrade) at Manheim Dallas on Aug. 18 and Aug. 19. Day 1 will include a damage analysis overview, and Day 2 will include a structural damage overview. […] [Read More]

Leasing penetration rates rising to near-record highs at the same time that more and more people are turning to shorter lease terms isn’t something that Scot Hall finds to be a coincidence. In fact, the executive vice president of Swapalease.com said these movements may go hand-in-hand. “I think it actually has the same message on […] [Read More]

What can cripple conversion rates at auction? Delayed-title vehicles, according to a new industry study. According to a new white paper from Manheim, having a physical title on site at the time of sale is crucial to conversion rates. In fact, the study found having a physical title on hand can actually double vehicle conversion […] [Read More]

After reporting that consumer demand is driving wholesale prices up, Manheim’s Tom Webb covered one player that could potentially reverse this price trend in the future: off-lease and off-rental vehicles. During this week’s conference call to discuss Manheim Used Vehicle Value Index movement for the second quarter, Webb touched on a topic many dealers and […] [Read More]

So, used-vehicle sales in June were not as strong as they were earlier this spring. But, as ADESA’s Tom Kontos points out, new-car sales were “great.” And that means more trade-ins for dealers, which tends to bode well on the used-car side of their stores. “There was a bit of a respite in year-over-year retail […] [Read More]