Auto Financial Group, an online provider of innovative financing products including CarMark Auto Finance for credit unions and banks, recently named a former HSBC executive to be the company’s new director of remarketing and client relations. Joining AFG’s management team is Paul Marquez, who will oversee the remarketing department and help guide business development. AFG […] [Read More]

Manheim announced more than a handful of new general managers on Thursday, promoting six of its auction leaders to GM roles. The promotions include: Bo Beason (Manheim Mississippi) Donny Cohen (Manheim Daytona Beach and Manheim Jacksonville) Doug Kramer (Manheim Central Florida) Eddie Pope (Manheim Houston) Carter Theissen (Manheim Minneapolis) Kim Waterman (Manheim Central California). All […] [Read More]

After seeing prices drop by an average of $50 or more for the past three weeks, NADA Used Car Guide is predicting depreciation will slow slightly this week in the lanes. Wholesale prices are expected to drop by 0.2 percent (or $25) this week, according to NADA UCG AuctionNet data. This prediction compares to last […] [Read More]

ADESA this week announced continued benefits to registered dealers who purchase vehicles online, via the implementation of various new products and services. ADESA’s High Bid Wins program, for example, makes it easier to purchase dealer-consigned vehicles online by setting an opening price at reserve for all off-site dealer-consigned vehicles available on ADESA.com. “This program offers […] [Read More]

ADESA noticed dealers are seeing some post-tax season price relief in the lanes, but the amount managers are paying for inventory remains higher than a year ago. According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, prices in May averaged $10,321 — down 1.5 percent compared to April but […] [Read More]

Chances are, dealers at auction looking to shore up their supply of 1-year-old vehicles will find a good bit of vehicles from the rental-heavy segments. That’s according to the latest issue of Guidelines from NADA Used Car Guide, which said that off-rental units are currently making up a large portion of 2013 model-year auction volume. […] [Read More]

Tax season market strength wasn’t done with the auction in May — wholesale prices remained elevated for the third straight month. And according to NADA’s latest Guidelines report, strong seasonal demand served to lift NADA’s used-vehicle price index to a new high of 126.8. This is 0.5 percent better than the previous record set just […] [Read More]

Wholesale prices began falling in May, and according to NADA’s latest Guidelines report, the trend isn’t expected to slow down this month. NADA is predicting that prices will fall between a range of 2 percent to 2.5 percent this month. As for the rest of the summer, used-vehicle depreciation is expected to drop to a […] [Read More]

Manheim Riverside has received recognition from the City of Riverside, Calif., for its philanthropic efforts on behalf of community nonprofits, including teen crisis center Operation Safehouse. Also among its recent community efforts was participating in a fundraiser with Make-A-Wish, joining two other Manheim locations in California. More than 80 employees from three Manheim operating locations […] [Read More]

After falling 0.4 percent last month, auction prices were still on the way down during the first week of June. According to Black Book data, the car segments saw prices fall by $57 last week, larger than the $44 decline seen the week prior. This is compared to a $33 slide for cars during the […] [Read More]