While ensuring driver safety still is the biggest priority of fleet managers, they’re also quite interested in having a sound plan to remarket vehicles, according to a survey conducted at the 2014 NAFA Institute and Expo by GE Capital Fleet Services. After safety, 27 percent of survey participants pointed to enhancing productivity. The two biggest […] [Read More]

This week, Black Book editorial director Ricky Beggs sat down with International Automotive Remarketers Alliance president Levi McCoy, and IARA executive director Tony Long for the second time to discuss developments in the pre-owned market, including multiplatform selling.   This week’s “Beggs on the Used Car Market” video report touched on insight from the two […] [Read More]

Following loss and severe damages from recent tornadoes, the employees of one ADESA auction took it upon themselves to help their neighbors. Raising nearly $60,000 with an auction to benefit area tornado relief efforts was ADESA Little Rock. Sale proceeds were donated to the American Red Cross of Greater Arkansas. “Almost everyone knows someone who […] [Read More]

Wholesale prices remained strong in April — taking a bit longer to turn down from tax-season highs than in previous years — but price relief for dealers and buyers in the lanes is in sight. According to NADA’s latest Guidelines report, seasonality and a spike in used supply will serve to push wholesale prices down […] [Read More]

Wrapping up a strong tax-season selling season, used-vehicle prices were still on the way up in April. According to Black Book data, wholesale prices rose by an average of 0.9 percent compared to March rates. Specifically, domestic cars saw prices rise by 2.7 percent, followed by import cars with a price spike of 0.2 percent. […] [Read More]

More than 100 employees of Manheim Detroit took up their bags to make a difference in their community. In an effort to clean up and preserve the environment, the group spent more than three hours on May 2 collecting 130 bags of trash from the grounds and areas around the Carleton, Mich., location and the […] [Read More]

Dealers had to dig deeper into their floor plan dollars yet again last month. Manheim reported that wholesale prices (on a mix-, mileage- and seasonally adjusted basis) climbed in January, February, March and now April, too, extending a streak that dates back to December of last year. This movement resulted in the Manheim Used Vehicle […] [Read More]

Wholesale prices are continuing to correct after experiencing seasonal highs earlier this spring. Using its AuctionNet data and analysis, NADA Used Car Guide is predicting prices to fall by 0.4 percent or $75 this week. And only one segment is expected to see prices lift: midsize vans, which are predicted to see price gains of […] [Read More]

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]