Winter was tough this year, even for residents of New York who are accustomed to heavy snows. But one ServNet auction demonstrated its “snowhow” in overcoming the weather to record new sales records. "We have been in the auction business since 1981, but 2014 will go down in history as perhaps the toughest winter we […] [Read More]

The percentage of price increases for vehicle segments flowing through the lanes this past week continued to grow, hitting the highest level seen over the past 12 months. This prompted some dealers to predict we might see another month of positive values before settling into a more stable auction market. According to Black Book’s Ricky […] [Read More]

The National Auto Auction Association has reached an agreement with Cherokee Automotive Group, publishers of Auto Remarketing, to combine its annual convention with CAG’s National Remarketing Conference, beginning in the fall of 2016. The combined meeting will be known as the National Remarketing Conference and National Auto Auction Association Convention and will be held each […] [Read More]

Making a trio of senior leadership announcements, KAR Auction Services said Thursday afternoon that it has created a chief operating officer position that will be filled by Don Gottwald, who has been chief executive officer of KAR subsidiary Automotive Finance Corp. since 2009.  John Hammer, who has been president and COO of AFC since 2013, […] [Read More]

The role of ringman is vital to the auction sales process, and fleet services provider ARI has publicly recognized two such employees with its Ringman of Distinction Award. The award from ARI, which recognizes the outstanding contributions of ringmen at various vehicle auctions, was recently presented live in the auction lanes to Art Mecias of […] [Read More]

Wholesale prices are projected to climb just under 1 percent this week, and four segments are expected to move up even more than that, according to AuctionNet data provided to Auto Remarketing by NADA Used Car Guide. NADA is anticipating that AuctionNet wholesale prices this week will climb 0.9 percent (or $150) against the two-week […] [Read More]

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]