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]

As Auto Remarketing prepares for its next “Spotlight on Commercial Consignors” as a part of its National Auto Auction Association Convention print issue, two of those operations — GE Capital Fleet Services and FLD — shared their newest achievements. On Tuesday, GE Capital Fleet Services announced a major milestone with the sale of its 100,000th […] [Read More]

It’s that time of year again: Auto Remarketing’s annual National Auto Auction Association Convention Issue, which will be published in the coming weeks and available on site at the event. One of our special sections in this magazine will be our “Auction Life” feature, which will include photos from the outstanding NAAA-member auctions across the […] [Read More]

Contrary to what the industry has seen through the spring and early summer, car value retention was actually stronger in the lanes than trucks last week — just the second time this trend has been spotted in 2013, Black Book’s Ricky Beggs reported. The overall car segment decline came in at 0.3 percent, or a […] [Read More]

Later this month, the National Auto Auction Association will kick off its annual National Auto Auction Week to recognize its members for their contributions to their local community and national economy, and one auction company recently shared its plans for the event. ADESA announced last week that each of its 67 North American auction locations […] [Read More]