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]

Manheim chief economist Tom Webb dissected the short- and long-term impact of rising off-lease volume when he conducted his first quarterly conference call on Wednesday morning. Webb highlighted the positive prospects including the swell of potential certified pre-owned vehicles for franchised stores as well as how the entire industry is in much better position to […] [Read More]

Wholesale prices ended the year down about 2 percent, but they were still historically high due to several market dynamics, including robust retail demand, prudent use of incentives and a greater focus on the certified pre-owned market.   That’s according to analysis released today from Manheim, which said 2013 used-car values were much higher than […] [Read More]

With more than 55 workshop topics, 159 workshop sessions and seven different tracks, the NADA Convention is bound to have something of relevance for every dealer. This year’s workshops are brought to you by NADA University, the educational arm of NADA. Barbara Roos, manager of workshops and webinars at NADA University, explained the seven workshop […] [Read More]

Manheim named a new general manager and vice president of its Manheim Pennsylvania location, appointing 2013 Women in Remarketing honoree Julie Picard to the role. Picard, whose prior post was market vice president for Manheim’s Pacific Market, moved into this new position on Jan. 1, taking over for Tim Van Dam. Picard will report to […] [Read More]

Many in the industry use Black Book’s “Beggs on the Used Car Market” weekly videos as a way to stay on top of auction price movement and trends in the lanes. This week, Black Book editorial director and senior vice president Ricky Beggs took a different approach for the series. He sat down with this […] [Read More]

In response to severe weather conditions in the Midwest and East Coast, Manheim said Monday it is waiving online fees for vehicles purchases through Simulcast and facilitation fees for vehicles purchased through OVE.com to assist dealers. Manheim indicated the fee waivers are effective from Monday through Jan. 31 and apply on all open and closed […] [Read More]

KAR Auction Service made an acquisition late last week that the company contends will continue to boost the wide array of dealer services it offers. Now in KAR’s fold of subsidiaries is Miami-based High Tech Locksmiths (HTL), one of the largest providers of transponder, remote, high-security and vehicle smart keys in North America. Chief executive […] [Read More]

With both Christmas and New Year’s Day each falling directly in the middle of the business week this year, Black Book editorial director and senior vice president Ricky Beggs discussed the definitive impact that timing left in the lanes. During his most recent online video commentary, Beggs said, “Sure, the overall activity has been reduced, […] [Read More]