When CarMax announced results from a successful first quarter of its 2015 fiscal year — notching record quarterly sales and earnings — company management focused on one used metric, in particular: wholesale unit sales. While total used retail sales rose by 9.8 percent in Q1, wholesale unit sales were up slightly higher, experiencing a 9.9-percent spike. […] [Read More]

Insurance Auto Auctions is ramping up its presence in Colorado’s capital with a brand new facility. The salvage auto auction company announced Wednesday the opening of a new branch, Denver East, in Commerce City, Colo. The new facility is located at 8510 Brighton Road, and grows IAA’s capacity in the Denver market to more than […] [Read More]

You might not have gone to summer camp since you were 12, but Manheim’s here this season to provide a similar experience — minus the tents and mosquitoes. In an effort to increase traffic at its auctions during the months as well as help dealers build inventory for the busy third quarter, the company is […] [Read More]

Two years ago, Cam Hitchcock and Chuck Tapp worked together to create Primeritus Financial Services, one of the lead sponsors again for this year’s Re3 Conference at Used Car Week. Hitchcock and Tapp are collaborating once more; now as part of the leadership of American Auto Auction Group. Tapp, who is the chief executive officer […] [Read More]

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]