Manheim has built a new enterprise software business called Global Remarketing Management System that serves as a digital suite of remarketing management tools, the company announced Friday. It will be led by Nick Peluso, who will head up the new venture and become president of Global RMS on April 1. Peluso is currently senior vice […] [Read More]

Westlake Financial Services announced its 2013 Auction of the Year, an award given for sales effectiveness and service quality.  Earning the title this year is Kansas City Independent Auto Auction. “Kansas City Independent has been a reliable performer throughout the year, topping our rankings for the second, third and fourth quarters,” said Bill Walters, vice […] [Read More]

FLD Inc. has chosen an industry veteran with over 20 years of experience as its new senior marketing analyst. Picked for the position is Bill Bishop. Bishop touts over 22 years of experience in the medium, heavy truck and automotive industries, FLD reported. Prior to joining FLD, Bishop worked with the KAR Auction Services Group, […] [Read More]

Snow and ice have cast a big swath across the U.S. this winter. This inclement weather has served in part to keep truck and SUV prices high at auction, along with low prices at the pump. With an average of 1,864 vehicle prices adjusted per day last week in the lanes, Black Book’s Ricky Beggs […] [Read More]

Louisiana’s 1st Choice Auto Auction will celebrate what’s arguably the state’s biggest holiday with its second annual Rockin’ Mardi Gras Party and Sale next week. The two-day event, which will take place Monday and Tuesday, will include all the sights, music and food of Mardi Gras plus a 1,000-unit sale. It’s expected that buyers and […] [Read More]

NADA Used Car Guide’s latest Guidelines report released data that indicates prices might still spike during tax season before beginning a downward spiral. In January, prices remained flat, rising only by an average of 0.1 percent from December, according to NADA data. And price movements for the majority of segments were between a tight range […] [Read More]

There could be a higher-than-usual lift in off-rental volumes flowing through auction lanes in coming weeks, NADA Used Car Guide said in its latest Guidelines report, but this spike is likely to be offset by an increase in the number of buyers at auction, as well. The driver for both of these trends? Weather, of […] [Read More]

With the launch of three new facilities early this year, CarMax now has 60 dealer-only auctions throughout the U.S.  CarMax Auctions opened locations in Baton Rouge, La.; Newark, Del.; and St. Louis. Since 1996, CarMax has sold close to 3 million wholesale units, the company said. Dealers can visit the CarMax Auctions website for a […] [Read More]

Throughout 2013, trucks held consistently stronger retention rates in the lanes than the car segments. The tides may be changing, as Black Book’s Ricky Beggs reported cars maintained their value better than trucks for the first time in seven weeks. In his latest “Beggs on the Used Car Market” video report, Black Book’s editorial director […] [Read More]

Last year, full-size pickup trucks held to unusually high auction prices, bucking the declining trends, and experiencing strong price retention throughout 2013. This trend has come to a head with full-size pickup truck values beginning the new year with prices above normal. In Kelley Blue Book’s latest Blue Book Report, senior analyst Alec Gutierrez said, […] [Read More]