Dan Kennedy remembers the paper-intensive days of remarketing, when he would bring home invoices on cars GM Remarketing was selling, rail bills and truck bills in order to match up VIN numbers by hand and make sure all payments were square. “I had them spread all over the living room floor and kitchen table,” Kennedy […] [Read More]

Contrary to previous reports, on Tuesday ADESA’s Tom Kontos shared that October average wholesale prices “partially reversed declines” seen in previous months. And the same day, NADA reported the largest used vehicle price drop since October 2011. First up, according to ADESA Analytical Services’ monthly analysis, auction prices in October averaged  $9,590, up 1.2 percent […] [Read More]

Wholesale values held steady last week, as the truck segments continued to outperform average retention values, and cars experienced the same average change as the previous week. Last week, truck segments saw an average drop of $59, which marked a slight increase from the prior week’s rate (-$50), Black Book editorial director and senior vice […] [Read More]

Looking back at October, Black Book data shows that prices in the lanes dropped by almost double the rate seen in September, following seasonal trends dealers have come to expect. Black Book senior vice president and editorial director Ricky Beggs reported that used vehicles model years 2008-2012 depreciated by 2.1 percent in October. This was […] [Read More]

Late last week, Manheim promoted six leaders to new roles within the company that span five states and Puerto Rico. First, Eddie Pope has been named  auction manager at Manheim Houston. Five others will assume general manager positions: Nelson Acosta (Manheim Puerto Rico), Kim Dittoe (Manheim New York/Metro Skyline), David Kaflik (Manheim Louisville), John Olejniczak […] [Read More]

Manheim chief economist Tom Webb cut through technical jargon analysts sometimes use and explained why the fundamentals for October’s wholesale price decline are “shouting.” Webb indicated wholesale used vehicle prices (on a mix-, mileage- and seasonally adjusted basis) dropped in October after increasing in each of the previous four months. The development left the Manheim […] [Read More]

<p>To further build and strengthen its leadership team and role in the industry, Manheim and AutoTrader Group announced this week that Andrea Kane has been appointed chief people officer at Manheim and AutoTrader Group.</p> <p>Meanwhile Rock Anderson, Manheim&rsquo;s former chief people officer, has been named regional vice president of the West region.</p> <p>Both appointments became […] [Read More]

Online salvage vehicle auction company Copart broadened its presence in Canada this week by acquiring a privately held operation. Augmenting its two sites apiece in Alberta and Ontario, Copart acquired Berpa Auto Auction, which is located in Montreal, Quebec. “This is an important acquisition for Copart,” chief executive officer Jayson Adair said. “It provides us […] [Read More]

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Enterprise Holdings recently crossed a big annual used-vehicle-sales threshold, as the company said Wednesday that fiscal 2013 marked the first time it has moved more than 1 million cars internationally via dealer, consumer and auction sales channels in a given year. This was one of several financial and performance points shared by the privately owned […] [Read More]