In part to help the organization make the transition for its annual convention to be a part of Used Car Week, the National Auto Auction Association announced the appointment of two staff members to new positions in a reorganization of its management structure. NAAA explained the change, effective immediately, will streamline operations and enhance internal […] [Read More]

After tax-season kept prices strong in the lanes earlier this spring, May depreciation rates showed signs of the seasonal “summer slowdown.” Average prices fell by 0.4 percent last month when compared to April rates, according to Black Book data. On top of normal seasonal changes, a softening in the lanes is also being spurred by […] [Read More]

Without giving specific figures, Copart chief executive officer Jay Adair described salvage vehicle prices as “what we would expect,” when the company discussed the financial performance of the third quarter of its fiscal year. Reflecting on the span that wrapped up on April 30, Adair indicated that pricing for salvage units “tends to peak in […] [Read More]

Alliance Auto Auction announced recently that it has brought on former National Auto Auction Association president Jimmy Compton as the auction’s regional sales and operations manager. In this post, Compton will head up Alliance’s business development efforts to help increase corporate and fleet accounts. His most recent position was as director of national accounts at […] [Read More]

Last week, auction prices continued to soften. Though the weather outside is indicating the approaching summer, this trend may be one of the first signs we “are heading toward the fall and the market getting ready for another model year to enter into the choices,” according to Black Book editorial director Ricky Beggs. During his […] [Read More]

From new employees to a visit with a heavyweight boxing champion, remarketing meets rock 'n' roll this summer at ServNet auctions. "ServNet's summer promotions have become a fixture in the industry," said Patty Stanley, ServNet president. "In June, July and August, ServNet auctions hold huge events that have a tremendous impact on the market."  The […] [Read More]

There were 8.2 million used cars sold at the National Auto Auction Association’s North American member locations in 2013, according to NAAA’s 17th annual survey, conducted by CliftonLarsonAllen LLP.  Sales of these vehicles were worth a grand total of $75.7 billion. The survey also found there were 15.2 million cars entering these auctions last year, […] [Read More]

Auction prices are falling at a consistent pace, as NADA Used Car Guide is predicting prices to drop by an average of $50 for the second consecutive week.   According to NADA UCG’s AuctionNet data, the expected $50 drop translates to a decline in price of 0.3 percent at auction. In fact, only two segments […] [Read More]

Around 5 p.m. Central Time on April 28, everyone had left Mid-South Auction with the exception of Bob Sullivan and a nighttime security guard. Throughout that afternoon, Sullivan — the vice president and general manager of the Pearl, Miss. auction— had been receiving tornado warnings on his phone. But just before 7 p.m., the tone […] [Read More]

Mid-State Auto Auction of Minnesota is entering into its third year of serving the General Service Administration through fleet vehicles sales. The auction’s first GSA sale this year is scheduled for Friday, and company management pointed out some of these vehicles are the most popular with dealers.   "Our relationship with GSA has been extremely […] [Read More]