While revenue and gross profit at each of its three largest subsidiaries improved year-over-year, KAR Auction Services reported that its net income decreased 29 percent as a result of refinancing activities during the first quarter. KAR generated $583.8 million in revenue during the first quarter that ended March 31, representing a 5-percent increase from the […] [Read More]

Hendrick Automotive Group needed a way to find more used cars for its dealers while also employing a more efficient way to remarket the trade-ins that arrive on their lots. So, the retailer teamed up with Manheim and rolled out Hendrick’s first onsite auction lane in Charleston, S.C. Before today, there had been four sales […] [Read More]

As May rolled in last week, Black Book’s Ricky Beggs says it brought with it the end of the peak of spring used-car activity and overall strength of auction prices. Though 54 percent of the overall price changes in the lanes last week were still increases, this number was the lowest percentage of increases since […] [Read More]

Wholesale prices are expected to continue dropping from tax-season highs. In its AuctionNet price analysis sent Thursday, NADA Used Car Guide is predicting that this week's auction prices will end up dropping by an average of 0.3 percent, or $50. While the compact car and midsize van segments are expected to “hold steady” over the […] [Read More]

Announcing two new market vice presidents this morning, Manheim said Randy Beil — who has been vice president of remarketing for Chase Auto Finance since 2010 — will serve as the company’s MVP for the North Central Market, and Rob Touchette, who has been with Manheim since 2010, was named to the same role in […] [Read More]

Auction prices were still moving up in March as tax-season rate highs lingered a bit longer than usual, but the spike isn’t here to stay. According to RVI’s first-quarter newsletter, prices increased by 2.5 percent from February and 4.8 percent year-over-year last month (after adjusting for MSRP, the price change is slightly less, with an […] [Read More]

Brasher’s auctions across the country are reporting special sales events and at least one new hire, according to the latest update from ServNet. First up, Brasher's Northwest Auto Auction has named Jeff Cavalier as sales manager, bringing more than 20 years of experience to the post.  Mark Melton, auction general manager, says Cavalier will call […] [Read More]

Remarketing of America announced that Kevin Parmenter has joined the company as its new remarketing manager, effective immediately. In this role, the full-service recovery and remarketing provider indicated Parmenter will provide leadership within the organization and ensure that ROA achieves its core mission to enhance client experience through increased sales returns, efficient cycle times and […] [Read More]

Black Book editorial director Ricky Beggs used his weekly online video report to share a recent conversation he conducted with leadership of the International Automobile Remarketers Alliance. Along with sharing background about their professional careers, IARA president Levi McCoy of LeasePlan and alliance executive director Tony Long discussed a wide array of wholesale market issues. […] [Read More]

Need proof the off-lease volume surge may have already arrived? Ford Credit’s lease return volume in the first quarter was more than double the total from a year ago, according to metrics from Ford’s 2014 first quarter fixed income presentation that Manheim Consulting chief economist Tom Webb shared on his blog. It was also significantly […] [Read More]