Last week, Hertz Corp. held a groundbreaking ceremony for its state-of-the-art global headquarters to be located at the intersection of U.S. Route 41 and Williams Road in Estero, Fla. Officials highlighted the project is expected to create an estimated 400 headquarter jobs to be filled locally, and approximately 300 positions to be filled by Hertz […] [Read More]

<p>Though slight, the report stated used market supply is forecasted to rise slightly.</p> <p>And new-vehicle sales in October were the highest on record, according to ALG, the fourth consecutive month of record sales.</p> <p>This, of course, is also good news for pre-owned dealers, as these new-car customers may come back with trade-ins in the coming […] [Read More]

After highlighting the company’s performance during the first quarter of its 2014 fiscal year, Copart chief executive officer Jay Adair explained how the sales slowdown during the heat of the recession four years ago is still impacting the salvage industry. Adair told investment analysts that vehicles on the road today are older than what was […] [Read More]

As part of what the company called its continuing focus to develop products that drive business results for customers, Manheim selected a new vice president of product development on Monday.   Taking on this role is Bonnie Hensler. Hensler replaces Joe George, who became senior vice president and chief strategy officer for Manheim and the AutoTrader […] [Read More]

Black Book’s Ricky Beggs is asking a question that many dealers may be pondering, as well: “What happened to the trucks?” After holding strong price retention for most of this year, last week truck segments were showing a “significant market correction, with seven segments seeing a large downfall in values,” Beggs, senior vice president and […] [Read More]

Twenty-one years and 2,100 units linked the DAA Northwest 21st anniversary sale, held Nov. 6-7 and marking the auction’s inaugural offering from Toyota Financial Services. The 61-percent sale event saw a “dramatic lift in consignment, dealer attendance and sales,” the company noted, and took place in conjunction with the auction’s annual charity fundraiser.  It was […] [Read More]

On Thursday night, KAR Auction Services named a new president and chief executive officer of ADESA effective Jan. 6. Appointed to the role on that date will be Stephane St. Hilaire. Meanwhile, Tom Caruso will be named chief client officer for KAR. St. Hilaire is currently the president and chief operating officer of ADESA Canada. […] [Read More]

After a group of analysts reported that October saw the biggest auction price decline this year, it seems used-car price depreciation is slowing down this month. Following a 3.5-percent drop last month, according to NADA data, depreciation “eased up substantially over the first half of November,” NADA Used Car Guide senior automotive analyst Larry Dixon […] [Read More]

Patty Stanley — the new ServNet president and co-owner of Carolina Auto Auction and Indiana Auto Auction — recently outlined her plans for the two-year term of her presidency. Top-of-mind for Stanley will be efforts to continue the development of the technological initiatives that were launched during the term of her predecessor, R. Charles Nichols, […] [Read More]

Although prices are still up over 3 percent from 2012 levels, this past month auction prices experienced one of the only drops seen this year. Used-car prices in Canada fell slightly in October, going down 1.8 percent when compared to September, according to the lasted RVI Market Update for Canada. But despite the fairly significant […] [Read More]