Two new records were set by Charleston Auto Auction, at its 10th annual Luau/Pig Pickin’ & Car Sale, held June 14. The auction hosted featured more than 1,600 vehicles, a record for the company, along with 800 dealers and $35,000 in cash and prizes, auction officials reported. Dealers began the auction day with a pig […] [Read More]

Auction volume for May was up more than 10 percent against comparable weeks of 2012, and year-to-date, the upswing has eclipsed 3 percent. That’s according to the latest Economic Dashboard prepared by National Auto Auction Association economist Ira Silver. Specifically, volume for the month climbed 10.3 percent year-over-year, with the year-to-date increase at 3.1 percent. […] [Read More]

KAR Auction Services announced two additions to its management team on Monday, promoting Peter Kelly to chief technology officer and naming Lisa Price to the position of executive vice president of human resources. Both will report directly to Jim Hallett, chief executive officer of KAR. Kelly’s most recent position was president and CEO of OPENLANE, […] [Read More]

Though trucks have retained value a bit better in the lanes so far this spring, last week’s auction activity saw both car and truck prices decline. In fact, the overall segment change for trucks was the largest average segment decline since the week of Nov. 16, said Black Book’s Ricky Beggs. Last week, the truck […] [Read More]

The National Auto Auction Association will host the next class in its Auction Standards Training Program next month at Manheim Dallas.   The first day of the two-day course is a condition report writing class, and Day Two is a structural damage policy class. The upcoming course is scheduled for July 25-26, with classes beginning […] [Read More]

Auction Academy held its first ever “joint session” early last month as the two current class groups — the Managers Group and the Next Generation/Sons and Daughters Group — traveled with the Auction Academy staff to the Baltimore and Washington D.C. areas for a series of training programs. Organizers recapped that the session began with […] [Read More]

There appears to be a rather significant divide in the auction lanes between older and newer vehicles this year when it comes to their supply and pricing behaviors. How so? According to the latest Guidelines report from NADA Used Car Guide, there has been a 17.7-percent year-over-year decline in AuctionNet auction supply for cars between […] [Read More]

As PROFIT magazine unveiled its 25th annual list of Canada’s fastest-growing companies, a familiar name in the country’s auto industry made the ranking this time around. Identified in the list is North Toronto Auction. The PROFIT 500 — which ranks Canadian businesses by their revenue growth over five years — is published in the summer […] [Read More]

ADESA Analytical Services found the same year-over-year wholesale price declines for both April and May. The company’s monthly analysis of used values by vehicle model class showed  wholesale prices in May averaged $9,811 — down 2.8 percent compared to April and 4.5 percent relative to May. ADESA pointed out the 4.5 percent year-over-year decline matched […] [Read More]

For dealers trying to gauge just how much they will be spending in the lanes this month, NADA Used Car Guide's latest Guidelines report may be of particular interest. Though auction prices have been falling all spring, NADA expects that June’s rate of depreciation will be smaller than May’s decline of 2.1 percent. Dealers will […] [Read More]