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]

As fuel rates have evened out this year, interest in alternative-fuel vehicles has waned, putting downward pressure on values for these cars. But, it seems the tides have turned for one particular unit. Kelley Blue Book reported that the Nissan Leaf has experienced a bit of a “rebound” in the second half of the year. […] [Read More]

KAR Auction Services boosted its revenue by 12 percent year-over-year in the third quarter, as its ADESA, Insurance Auto Auctions and AFC business units all showed gains. Meanwhile, the increase in net income for KAR was even higher, climbing 19 percent to $22.8 million for Q3. Drilling down into specifics, KAR’s quarterly revenue was $533.7 […] [Read More]

High levels of supply. That’s a term not heard in the used-car market in quite a while, but if Chrysler and Dodge minivans are hot items on your lot, you might want to take note.  According to Kelley Blue Book, dealers have been enjoying “high supply” of Chrysler and Dodge minivans at auction. As noted […] [Read More]