In a collaborative effort spanning the wholesale business, Auto Auction Services Corp. announced that it will be providing AASC members a new industry standard for vehicle condition data reporting — developed in partnership with Manheim — that is designed to foster consistency throughout the auction industry. Thanks to a deal with the National Auto Auction […] [Read More]

For vehicles up to 8 years in age, there was a 1-percent year-over-year decline in the number of AuctionNet wholesale transactions last year, according to NADA Used Car Guide. Here’s the thing, though: this overall change in volume doesn’t necessarily paint an all-encompassing picture of the entire market. The year-over-year movements in AuctionNet auction volume […] [Read More]

Dealers continued to enjoy lower auction prices in the lanes as 2013 wrapped up. Falling in line with the downward trend seen throughout much of last year, wholesale prices continued to drop in December. According to ADESA Analytical Services, auction prices fell 0.9 percent compared to November and were off 1.3 percent when compared to […] [Read More]

Toward the end of 2013, the respective retained value leaders of the subcompact and compact vehicle segments were showing strong leads over the closest competitors, according to the most recent Blue Book Market Report — Used Car Edition. The analysis released by Kelley Blue Book indicates that the retained value (auction value as a percent […] [Read More]

In its January/February Industry Report, ALG took an in-depth look at three premium sports cars to see how their residual values stack up against fellow models in their respective segments and within their own brands. Starting with the 2014 Chevrolet Corvette Stingray, its 36-month residual value is at 57 percent. This is 6 percentage points […] [Read More]

The industry recently closed out the fifth straight year of used-vehicle growth (0.4 percent year-over-year), according to NADA Used Car Guide’s latest Guidelines report. And the year’s closing prices constituted an 18-percent hike when compared to pre-recession values in 2007. Which models saw the biggest price jumps last year? Supported by what NADA UCG’s Jonathan […] [Read More]

Though used supply may finally be loosening, it didn’t expand enough to push used prices down in 2013. According to NADA’s latest Guidelines report, December closed out the fifth straight year of used-vehicle price growth. More specifically, 2013 ended with prices of units up to 8 years in age 0.4 percent higher than they were […] [Read More]

Late last week, ADESA and Volvo Cars of North America announced the launch of a new site that will make finding used inventory a bit easier for franchised Volvo dealers. The new lease portfolio management and vehicle purchase website, the Volvo 360 Private Store, is a dedicated auction platform for Volvo dealers. ADESA explained it […] [Read More]

The industry recently closed out the fifth straight year of used-vehicle growth (0.4 percent year-over-year), according to NADA Used Car Guide’s latest Guidelines report. And the year’s closing prices constituted an 18-percent hike when compared to pre-recession values in 2007. Which models saw the biggest price jumps last year? Supported by what NADA UCG’s Jonathan […] [Read More]

KAR Auction Services announced Thursday evening that Insurance Auto Auctions chief executive officer Tom O’Brien is stepping down from his IAA post on April 30. Taking his place will be John Kett, who is currently IAA’s president and chief financial officer. Kett becomes president and CEO on May 1. O’Brien will remain a KAR board […] [Read More]