As we get closer to the new 2014 models are hitting the market and the average age of vehicles on the road continues to rise, Black Book’s Ricky Beggs said age is becoming a factor impacting change in the wholesale market. With the new model year on the horizon, dealers and buyers are seeing more […] [Read More]

Multi-platform selling: the new water-cooler topic in the remarketing business, and an issue that many in the industry are keeping a close eye on. It’s an issue that’s been examined by different leaders of the business, including the International Automotive Remarketers Alliance, Auto Auction Services Corp., and Liquid Motors. Gus Xamplas, vice president of remarketing […] [Read More]

On Friday, Edmunds.com announced that its vice chairman, Jeremy Anwyl, has retired. Anwyl has been with the company for nearly 14 years and served as its chief executive officer for four years, before moving into the vice chairman role in late 2011. [Read More]

There has been a 9-percent upswing in auction volume for vehicles up to 4 years in age this year — and consumers appear to have no problem with gobbling up this increased supply on the retail side. That’s the latest from NADA Used Car Guide, whose Guidelines report breaks down auction volume changes by age […] [Read More]

Though used prices are still falling from the abnormally high rates seen during 2008 and 2009, it seems used-vehicle depreciation is slowing as the summer progresses. After sliding by a slight 1.1 percent in June, depreciation “tightened” up even more in July, said NADA Used Car Guide’s Jonathan Banks. According to the latest NADA Guidelines […] [Read More]

Manheim determined wholesale used-vehicle prices (on a mix-, mileage- and seasonally adjusted basis) rose in July — the second straight monthly increase — a development chief economist Tom Webb said came “even in the face of higher supplies.” Webb continued when Manheim released the latest Used Vehicle Value Index on Wednesday by saying, “Rack that […] [Read More]

As ADESA volume jumped 10 percent year-over-year during the second quarter, KAR Auction Services chief executive officer Jim Hallett described how much online-buying activity is climbing, too. Hallett said during the company’s quarterly conference call on Wednesday that approximately 35 percent of the units ADESA sold during Q2 went to Internet buyers. Hallett noted that […] [Read More]

Today, the American Auto Auction Group is launching a private-label sale in Jacksonville, N.C.,  that will be operated by employees of Charleston Auto Auction (which is part of AAAG). Its official title is National Auto Auction, and Charleston AA assistant general manager Bill McCready shared a bit about what will be featured. The debut sale […] [Read More]

Auction officials are calling ABC Baton Rouge’s Grand Opening Sale a “major success.” At the July 18 sale, there was a conversion rate of 88 percent  for fleet and lease, with a dealer consignment sale conversion rate of 63 percent. Jason Hockett, president at Auction Broadcasting Co. president,  “The Grand Opening sale at ABC Baton […] [Read More]

In advance of this morning’s conference call with investment analysts, KAR Auction Services reported its second-quarter performance Tuesday, highlighting a 40-percent gain in net income among other increases. For the quarter that ended June 30, KAR generated $541.4 million in revenue, up 11 percent from $487.9 million posted in the second quarter of last year. […] [Read More]