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]

Manheim Canada announced this week it has chosen a new director of commercial accounts. Joining the company’s leadership team is Steve Coulman, effective this coming Monday. Commenting on the hire, Russ Stegall, executive director of Manheim customer management, said,  “We’re very pleased to have Steve on board. “He brings a valuable customer perspective to the […] [Read More]

Manheim has opened a new service center in California, home to multiple services the company says will help customers grow their own businesses. The new Manheim California Service Center is an 89,000 square-foot building housing the Volkswagen Credit/Audi Financial Services Technical Operations Center, Manheim’s Employee Service Center West, and other sales and support services for […] [Read More]

Wednesday afternoon, Manheim announced a partnership with subprime credit used-car dealer DriveTime to form Go Auto Exchange, a new separate and independent wholesale auction company focused on independent dealers and the low-end vehicle segment.   The first locations for Go Auto Exchange will be rolled out this year in Atlanta and Phoenix, with more to […] [Read More]

Auction volume in October was up more than 10 percent against comparable weeks of 2012, according to the latest Economic Dashboard from the National Auto Auction Association, which said that year-to-date volumes are ahead 6.6 percent through 10 months. The report, prepared by NAAA economist Ira Silver, found that average auction prices last month were […] [Read More]