Dealers looking for off-rental vehicles from Hertz will be seeing them coming from a newly created operation. The Hertz board of directors announced on Tuesday that it approved plans to separate into two independent, publicly traded companies. The two companies will be Hertz, comprised of the Hertz, Dollar, Thrifty and Firefly rental car businesses as […] [Read More]

Dealers are scouring the lanes trying to find inventory to prosper during tax season. The daily result is that Black Book editors are seeing some of the highest levels of price adjustments. Black Book editorial director Ricky Beggs shared in his weekly online video commentary that since the first of February, editors have averaged 1,820 […] [Read More]

Consulting and recruiting firm TPC Management Co. has selected a long-term employee as its newest vice president. Company president and chief executive officer Pierre Pons made the promotion announcement, naming 10-year employee Penny Wanna as vice president of administration. “Penny has been instrumental to the growth of our firm in all aspects, and along the […] [Read More]

In its latest Blue Book Market Report, one trend that Kelley Blue Book noted about February wholesale price activity was the movement in the values of full-size SUVs from General Motors. Comparing the four-week period ending Feb. 21 with the one ending Jan. 24,  the average overall change for the segment was a 0.5-percent decrease. […] [Read More]

Hyundai Motor America recently announced its 2013 Auction of the Year and recognized Manheim Riverside with the annual award.   Each year, the award goes to the top-performing auction in terms of sales values, customer service, dealer satisfaction, quality and overall performance.  This marks the first time a West Coast auction has won the award […] [Read More]

The National Auto Auction Association sent out an NAAA Update on Thursday afternoon indicating that the International Automobile Remarketers Alliance has implemented a Standardized Auction Audit Checklist that auctions can use to prepare for audits by their IARA member auction partners. This checklist can be accessed on the IARA website or the NAAA website. “This […] [Read More]

The first day of spring is less than a week away, and auction prices are right in line with usual seasonal trends — that is to say, they are on the way up. The good news? NADA Used Car Guide is predicting auction prices to peak this month, and then continue to slide downward through […] [Read More]

Manheim operating locations across the U.S. were honored by customers for delivering top results in the vehicle remarketing industry in 2013, from service, volume and quality to auction of the year, the company said Wednesday. Presented during the NAAA/CAR/IARA event held last week in Las Vegas, the awards earned include recognitions for Auction of the […] [Read More]

ADESA’s Tom Kontos pointed to two factors as to why February’s wholesale price movement ended up being “atypical.” According to ADESA Analytical Services’ monthly analysis of wholesale used-vehicle prices by vehicle model class, used vaules in February averaged $9,839 — down 1.4 percent compared to January, but up 0.9 percent relative to February of last […] [Read More]

Though wholesale prices rose overall last month, according to Kelley Blue Book’s latest Blue Book Market Report, values for full-size pickup trucks are lagging behind the industry average. This may come as a surprise, since  large truck segments showed very strong retention levels throughout 2013. Much of this strength was due to a spike in […] [Read More]