Canadian minister of finance Jim Flaherty confirmed this week that the government has made strides to move General Motors towards private sector ownership. Canada GEN Investment Corp. — a wholly-owned subsidiary of the Canada Development Investment Corp., who holds Canada's interest in GM — has sold 30 million shares of common stock of General Motors […] [Read More]

Auction volume dropped more than 2 percent sequentially last month, with most vehicle-age classes declining “sharply.” However, a late-model class of vehicles bucked the trend, spurred by rental-car sales in the lanes. That’s according to the latest Guidelines report from NADA Used Car Guide, which said there was a 2.2-percent drop in AuctionNet wholesale transactions […] [Read More]

A report that Auto Remarketing highlights weekly is celebrating its five-year anniversary this week. Black Book is celebrating the milestone of its weekly “Used Car Market Report” video series, hosted every week by Black Book editorial director and senior vice president Ricky Beggs. The reports have run continuously during the five-year span without interruption, according […] [Read More]

RoadDealer.com — an online platform that affords dealerships the ability to buy, sell and trade aged and wholesale vehicles between other stores — formed a strategic partnership with the Chicago Tribune this week. Through its members-only website, RoadDealer.com highlighted that its inventory database now holds more than 20,000 vehicles ready for used-car managers to buy […] [Read More]

If you had told a dealer at auction 50 years ago that he would be able to attend 11 auctions at the same time, he most likely wouldn’t have believed you. Yet today, ADESA launched a new LiveBlock online simulcast tool that allows its customers to participate in 11 online auctions simultaneously — a result […] [Read More]

It seems the Labor Day holiday and strong sales put a temporary hold on fall depreciation, according to Black Book’s Ricky Beggs. That said, only 12 percent of price adjustments last week were price increases, which marks the smallest level recorded this year, he reported in his latest “Beggs on the Used Car Market” video […] [Read More]

Not since Hurricane Sandy rocked the Northeast has the Manheim Used Vehicle Value Index jumped this much in a single month. Manheim determined wholesale used vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) rose for the third consecutive month in August, pushing the index to 122.3. The reading represents an increase of 1.3 […] [Read More]

The National Independent Automobile Dealers Association announced their Auto Auction of the Year award at last week’s National Auto Auction Association Convention in Indianapolis, and taking home the honors was Dealers Auto Auction of the Rockies.   Auction owners Brad Sturgeon and Bill Baker along with general manager Michele Noblitt were presented the award during […] [Read More]

In addition to the previously announced award winners being recognized at the National Auto Auction Association’s Convention, Chase Auto Finance and NAAA had even more honors to share late last week. The 2013 Chase Cup for Auction Excellence Awards were handed out Thursday at the convention, with seven auctions taking home the hardware. These particular […] [Read More]

LeasePlan USA has recently promoted two members of its leadership team, Christopher Stoner and David Doyle. Both Stoner and Doyle have been elevated to the position of regional vice president of client relations sales. The company indicated Stoner and Doyle will be responsible for delivering LeasePlan’s award winning service to a portfolio of clients in […] [Read More]