As the year draws to a close, ServNet president R. Charles Nichols took the time to reflect on the company’s performance and achievements for 2012, saying “we have much to be proud of.” Nichols began by sharing that ServNet’s market share is on the rise, showing growth of 11 percent over the past 12 months. [Read More]

The National Auto Auction Association shared news Monday afternoon that Jacob B. Hershey, co-founder of what was formerly known as Pennsylvania Auto Dealers Exchange, died Friday at age 90. His funeral is scheduled for 2 p.m. EST on Thursday in New Oxford, Pa. It will be held at the Nicarry Meeting House at The Brethren […] [Read More]

As buyer demand in the lanes continues to rise — in part due to Hurricane Sandy and the need for replacement vehicles in the Northeast — it seems dealers are turning toward one particular group of vehicles to fill up the lots. In the latest “Beggs on the Used Car Market” video report, the Black […] [Read More]

American Auto Auction Group announced that two of its newest auction properties have been officially recognized as members of the National Auto Auction Association. The two newest NAAA members are Your Auction of Pasco and Badger State Auto Auction. Your Auction of Pasco is a greenfield site opened in Holiday, Fla., this past March, and […] [Read More]

Greater Rockford Auto Auction on Monday launched a promotion for Consumer Portfolio Services called, “Say Yes to CPS.” Management explained the promotion runs through June and gives dealers a chance to win a 2013 Polaris Outlaw 90 ATV in addition to other weekly events and giveaways. The auction said all CPS vehicle purchases also have […] [Read More]

Manheim has purchased Ready Auto Transport, the auction company told Auto Remarketing.  Sharing more details on the deal that closed Friday, Manheim said it will operate the transport company as a fully independent business, with  Ready Auto Transport president Mark Jensen staying on in the role of group vice president of Ready Auto Transport The […] [Read More]

Auction industry leaders took to the classroom for the latest Auction Academy session, serving as faculty for the Senior Managers Class on topics from vehicle valuation to online selling technology and dealer funding. Auction Academy, a professional education program developed by TPC Management, held the class in Nashville, Tenn., from Nov. 29 to Dec. 1. […] [Read More]

Canada is following the lead of the U.S. and rolling out a set of environmentally friendly rules that aim to cut greenhouse gas emissions from cars and light trucks. Under the new regulations, vehicles produced between 2017 and 2025 will have to reduce emissions by an average of 5 percent a year — every year. […] [Read More]

Continuing a pattern the company said it has seen since the spring, ADESA Analytical Services’ monthly analysis of wholesale prices by model class showed the November figures softened both year-over-year and month-over-month. ADESA determined wholesale values in November averaged $9,554 — down 2.2 percent compared to October and off by 3.2 percent relative to November […] [Read More]

Due largely to the impact of Hurricane Sandy, used-vehicle prices fell only 1 percent month-over-month in November, according to the latest Guidelines report from NADA Used Car Guide, which said that December pricing should behave similarly before a modest turnaround to begin 2013. [Read More]