Continuing a flurry of significant industry moves, KAR Auction Services announced Tuesday that its business unit ADESA has acquired a 50-percent stake in Toronto-based Nth Gen Software and its online vehicle remarketing system, TradeRev. KAR officials indicated the total purchase price for the transaction is approximately $30 million in cash. ADESA also announced that it […] [Read More]

As used-car supply continues to increase, consequently, used-car prices are slumping. The seasonal summer slowdown continues to push prices down, and RVI Group reported late last week it expects used prices to drop by 10 percent by 2019. When describing last week’s auction price movement, Black Book’s Ricky Beggs said the only difference from previous weeks […] [Read More]

Though the temperature may be rising as we head into the last month of summer, auction prices seem to be dropping on a weekly basis. According to NADA’s AuctionNet data, prices are expected to drop by 0.3 percent, or $50, this week. The losses will be led by the luxury car segment, NADA automotive analyst […] [Read More]

Elcometer, an inspection equipment provider to the coatings industry, has worked in the remarketing space for about two decades, and its history in the auto manufacturing industry dates back even further. And now, the company is going even deeper into remarketing. Elcometer will soon be launching a proprietary inspection tool for appraisers, buyers, finance companies […] [Read More]

The summer market is in full force in the lanes as we head toward fall, says Black Book’s Ricky Beggs.   For example, last week, car prices fell by an average of $81 at auction, almost twice the $42 decline during the same period of 2013. According to Black Book data, only once over the […] [Read More]

The roar of engines and the chants of auctioneers are mixed with the sounds of hammer blows and the rumble of paving equipment as ServNet auctions around the country work to finish expansion projects. Six ServNet members — including Missouri Auto Auction, Carolina Auto Auction, Dealers Auto Auction of the Southwest, Sparkling City Auto Auction […] [Read More]

Black Book has expanded its executive team with the hire of a vice president of analytics and strategic relationships. The company has chosen Anil Goyal to fill the VP spot. Goyal comes to Black Book with a background in strategy, primarily in banking positions, the company said. For example, Goyal has held senior risk positions […] [Read More]

Auction price drops are expected to remain consistent with last week’s movement, with wholesale prices once again predicted to drop by an average of 0.5 percent or $75, according to NADA’s AuctionNet data. But there's one exception. Interestingly enough, even though overall price declines are predicted to be moderate this week, large pickups are expected […] [Read More]

ServNet auctions in Minnesota and South Carolina have enjoyed an eventful summer so far, with one announcing a new era taking hold and another having another successful annual sale. First up, Bob and Rob Thompson and the crew at Mid-State Auto Auction celebrated the auction’s 31st anniversary in July, taking the time to review the […] [Read More]

General Motors announced this week it is bringing back closed sales to two Manheim locations. GM closed sales, open only to GM dealerships, will now be offered at Manheim Arena Illinois and Manheim Pennsylvania. “We value our partnership with Manheim,” said Dan Kennedy, national remarketing manager at General Motors. “We are confident that these closed […] [Read More]