Manheim announced this morning the appointment of former NextGear Capital chief operating officer Shane O’Dell into a new position with the company. As Manheim’s first senior vice president of wholesale services, O’Dell takes on the responsibility of setting and executing key business strategies around Manheim’s third-party logistics. The company’s wholesale services include vehicle transportation, reconditioning, condition reporting, […] [Read More]

Used prices remain elevated — the second quarter holds the record for highest used prices in history, and Q3 was the highest third quarter on record — and analysts are narrowing it down to two factors the industry expects are behind this trend. According to the Q3 2014 Used Vehicle Market Report from Edmunds.com, it comes […] [Read More]

Manheim announced Wednesday a series of new general managers across three states and Quebec, Canada, appointing six new GMs at seven auction locations. The promotions to general manager include: Alex Fraser (Manheim Portland), Ryan Mason (Manheim Fort Lauderdale), Jeff Modjeski (Manheim Dallas), Christina St-Germain (Manheim Montreal), Toni Williams (Manheim Daytona Beach and Jacksonville) and Robert […] [Read More]

Ernst & Young LLP announced this week the recipients of the EY Entrepreneur of the Year awards. Amongst them is Jim Hallett, the chief executive officer and director of KAR Auction Services Inc., who earned the EY Entrepreneur of the Year 2014 National Services Award. According to Ernst & Young, the award is a “leading […] [Read More]

The auction lanes are showing signs of a mid-fall market, which is manifesting through more stable price movement and waning interest in some of the sportier vehicles. Ricky Beggs, Black Book editorial director, highlighted this seasonal market in his latest “Beggs on the Used Car Market” video report. Beggs reported, “Consistent overall average segment changes […] [Read More]

Capital Automotive Reconditioning Services (CARS) recently announced that two National Auto Auction Association Hall of Fame members have joined its board of directors. Auction icons Tom Cunningham and Tony Moorby join the board with lifetimes of achievements in the auction industry. “We are extremely proud to know that these two gentlemen have accepted board positions […] [Read More]

After falling by 3.7 percent in October, according to NADA data, wholesale price drops are expected to be a bit milder the rest of the year. According to NADA's November edition of Guidelines, depreciation normally becomes more moderate from November through January before tax season sparks the usual spring spikes This month, NADA expects depreciation […] [Read More]

In 28 years with Ally Financial, Robert Stahl has done a little bit of everything. He has worked a repo lot, had multiple leadership tenures in remarketing, ventured into subprime finance and was involved in helping the SmartAuction online platform get off the ground. But one lesson that has stuck with Stahl since his first […] [Read More]

American Auto Auction Group has officially rebranded, chief executive officer Cam Hitchcock announced at the National Remarketing Conference today. “We are excited to officially launch the XLerate brand today. Our team believes that the new brand, which incorporates the attributes of speed and size, will directly benefit our customers throughout the United States,” Hitchcock said in […] [Read More]

Though ADESA’s monthly analysis of used-car prices showed a slight uptick from September, this bump in price may not accurately portray the current environment in the lanes. According to ADESA Analytical Services’ monthly analysis of wholesale used vehicle prices by vehicle model class, auction prices were up 1.3 percent to an average of $9,678 last […] [Read More]