The National Auto Auction Association noticed overall wholesale volume declined 0.4 percent during the first quarter, but the organization insisted the lanes showed plenty of life as time passed. During Q1, NAAA economist Ira Silver pointed out an increase in dealer consignment was offset by a decline in commercial consignment, leaving the overall mark slightly […] [Read More]

The volume of hybrid and plug-in cars is growing, and Black Book’s Ricky Beggs says hybrid price retention is closing the gap versus sister gas models. According to www.hybridcars.com, the level of hybrid-only penetration has grown from 3.15 percent of the market in 2012 to a current level of 3.34 percent through April; electric versions […] [Read More]

According to action seen in the lanes this past week, wholesale car and truck prices continue to slide. In the latest “Beggs On the Used Car Market” report, Black Book's Ricky Beggs explained that the trend within the car segments had  a fourth consecutive week of greater than $40 average segment price dips. Last week, […] [Read More]

KAR Auction Services announced Monday the commencement of an underwritten offering of 15.0 million shares of its common stock by existing stockholder KAR Holdings II LLC, subject to market and other conditions. KAR said it will not receive any proceeds from the offering. Officials explained the LLC is controlled by entities affiliated with Kelso Investment […] [Read More]

ARI recently held a celebration to honor its 2012 Regional Auction of the Year award winners, spotlighting these facilities that “exhibit a commitment to consistent quality and superior customer service.” Receiving the annual award were: •    Northeast Region    Southern Auto Auction (East Windsor, Conn.) •    North-central Region    ABC Detroit/Toledo (Perrysburg, Ohio) [Read More]

Copart announced more than just the third-quarter financial performance of its current fiscal year as the company also said late last week that it acquired Salvage Parent, which conducts business primarily as Quad City Salvage Auction, Crashed Toys and Desert View Auto Auction. The move is leaving Copart management with the task of how to […] [Read More]

Kelley Blue Book reported last week that used auction values reached a three-year low in May and also highlighted a few interesting trends within the segments, some based on seasonality with high incentives playing a role, as well. First up, highline vehicles retained a bit of price strength in the lanes this past month. Auction […] [Read More]

Kelley Blue Book has reported that used-car auction values have reached a three-year low. After the 2008 recession and the consequential drop in off-lease supply, news like this has been a long time coming for dealers. In fact, KBB senior market analyst for automotive insights Alec Gutierrez said, “This year started at a three-year high, […] [Read More]

If you look at Kelley Blue Book’s graphs, you will see that the monthly movement in auction retention values for used hybrids has resembled waves the past two years. In 2013, however, it has looked more like a ski slope (albeit, a bunny slope, not a double black diamond). “2013 has been a year of […] [Read More]

Central Auto Auction of Hamden, Conn., this week announced its new assistant general manager. Peter Saldamarco, president of the auction, named Anthony Salerno to the role. Salerno previously worked as assistant general manager for ADESA Long Island, and more recently as general manager of ADESA Miami. Salerno’s prior experience at these major national auction facilities […] [Read More]